Lightning Round OT: Wal-Mart, Best Buy, ConocoPhillips and More

Emerson Electric : Cramer likes this accidental high-yielder, which pays 3.9%. He might not recommend this stock during a recession, but that sizable dividend makes EMR worth owning.

Valero :ConocoPhillips and its 4%, or BP and its 7.5%, yield are better plays, Cramer said. Plus, COP and BP operate larger, integrated businesses, making them stronger companies than Valero. But VLO will work as a short-term trade on wider refining margins.

KBR : KBR’s cheap and the balance sheet is good. Cramer’s bullish on this stock.

Best Buy : Wait until Circuit City liquidates – another whole quarter – Cramer said, before buying BBY. Who will shop at Best Buy when prices are so cheap at CC? But Wal-Mart’s his favorite retailer right now.

Cramer's charitable trust owns BP and Wal-Mart.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

Contact Mad Money

  • Showtimes

    Monday - Friday 6p ET
    Saturday 8a, 1p, 7p SYD
    Sunday 12a, 1a, 8a, 7p SYD
    New Zealand
    Saturday 10a, 3p, 9p NZ
    Sunday 2a, 3a, 10a, 9p NZ
  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

Mad Money Features

  • Grab the latest CNBC gear from the NBCUniversal Store!

  • Get a behind-the-scenes look at how Cramer formulates his investment advice. "Inside the Madness" is a column, which features e-mails and more with Cramer and his researcher Nicole Urken.

  • You’ve always wanted to hit the “Hallelujah!” button. Here’s your chance.

Mad Money Moments

Cramer's New Book