Lightning Round: AT&T, Apache, Transocean and More

Ingersoll Rand : It’s getting sold off along with anything else that’s industrial, but Cramer called IR a great American company that he believes in.

Qwest Communications : Sell it, Cramer said, and pick up some AT&T.

American Apparel : Cramer has hated this stock ever since it came public.

AerCap Holdings : Airplane leasing is a terrible business, Cramer said.

FEMSA : This Mexican beverage maker is in a “good situation,” Cramer said.

Transocean : If the driller breaks $140, Cramer would immediately pick up a quarter of a position. This is one to buy on the way down, he said.

Apache : Cramer would buy Apache tomorrow. Natural gas is here to stay, even if the market takes these stocks down from time to time.

Questions for Cramer? madmoney@cnbc.com

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