Black & Decker Corp., the biggest U.S. maker of power tools, may rise as more people focus on fixing up their homes instead of selling them, CNBC host Jim Cramer said on his ``Mad Money'' show today.
Since the beginning of 2005, the Towson, Maryland-based tool maker has repurchased 10 percent of its stock, focused on cost-cutting and improving its margins and reported higher earnings and revenue.
Black & Decker, which plans to unveil a new line of portable power tools that are likely to catch on with customers, ``could break $100 a share,'' said Cramer, a market commentator and former hedge-fund manager.
Celgene Corp. (CELG), the cancer-treatment developer, was also recommended by Cramer based on the performance of the company's drug Revlimid, derived from thalidomide and used as a treatment for multiple myeloma.
The company last week reported Revlimid first-quarter sales of $32.4 million, which are ``very strong numbers,'' Cramer said. That beat forecasts for $22 million. The company, which may also be an attractive takeover target, has other promising drugs currently in clinical trials, he said.
NTL Inc., Britain's biggest cable company, was also recommended by Cramer. The company last month agreed to buy Richard Branson's Virgin Mobile Holdings Plc. for 962 million pounds ($1.67 billion), adding wireless phones to its television and Internet services.
Stocks recommended during the ``Lightning Round'' of responses to viewers' questions include DuPont Co., Dow Chemical Co., Goldcorp Inc. (G), Wachovia Corp., Commerce Bancorp Inc., Wells Fargo & Co. (WFC), BNP Billiton Ltd., Energy Partners Ltd., At Road Inc., Saks Inc. (SKS), SunOpta Inc. (SOY) and Washington Mutual Inc.
Cramer told viewers to avoid Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) and Evergreen Solar Inc.
To contact the editor responsible for this story: Dan Reichl at email@example.com