Sometimes Jim Cramer tells a caller that he needs to do homework before he can make a decision on a stock. And he's not kidding.
Following is Cramer's research or homework on stocks recently called to his attention by investors who watch the TV show.
TravelCenters of America (TA)
On March 21st Tyler in Virginia called about TravelCenters of America, one of the largest operators of travel centers in the country.
Cramer likes the story. "The stock was spun out of its landlord, Hospitality Properties Trust, back in 2007, and after a rough couple of years during the recession, TravelCenters has come out the other side stronger than ever with improved systems and a more manageable rent agreement," Cramer said.
However, Cramer isn't sure the stock is a buy at current levels.
"The stock has surged 150% year to date, that's a huge run. I'd wait for a pullback before pulling the trigger. It just feels too much like chasing at these levels," Cramer said.
Jazz Pharmaceuticals (JAZZ)
On March 19th, Jeff in New Jersey asked about Jazz Pharmaceuticals, a biopharma company that's focused on treating sleep disorders.
"Jazz has a number of drugs on the market, including Xyrem for narcolepsy," Cramer said. "The stock has been pulling back due to worries about generic competition for Xyrem, which accounts for 69% of the company's revenues and it loses patent protection next year."
Cramer thinks worries may be overdone because even if generic versions are approved, they will still need to license Jazz Pharma's proprietary distribution system.
"Plus, the company is tied up in litigation with the generic player that's trying to copy its drug, and its possible they could end up negotiating a significant delay in when generic Xyrem actually hits the market," he said.
Nonetheless, if you don't already hold the stock Cramer thinks you should avoid the uncertainty. "I'd stick with one of the many other biotechs profiled on Mad Money that have cleaner stories. (Read More: Cramer: Biotech Stock Could Gain; Even If Economy Fails)