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Lightning Round OT: Ford, NewAlliance Bancshares and More

Ford Motor : Cramer recommended Ford’s preferred shares over the common. The common stock has run, so investors might want to wait for a pullback before buying.

First Midwest :NewAlliance Bancshares , First Niagara Financial , Hudson City Bancorp and US Bancorp are better picks, Cramer said.

Integrys Energy : Cramer is bullish on TEG and its 7.2% dividend yield.

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    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."

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