Jim Cramer: Viacom, Lamson & Sessions, Joy Global, Marvell

Viacom Inc. (VIAB) signaled a new focus on profitability by firing 250 workers yesterday, Jim Cramer said on his ``Mad Money'' television program on CNBC. He told viewers to buy the stock.

Cramer, a market commentator and former hedge-fund manager, also said to buy Lamson & Sessions Co. shares because the company is a likely takeover target for private-equity firms.

After interviewing Agrium Inc. (AGU) President and Chief Executive Officer, Cramer reiterated his recommendation to buy shares of the fertilizer maker because demand for the product is rising amid increased ethanol production and limited new manufacturing capacity.

In response to callers, Cramer said to not buy Lions Gate Entertainment Corp. (LGF) because the company isn't interested in being taken over and doesn't have enough earnings per share. He said to buy shares of Walt Disney Co. He said that while Martha Stewart Living Omnimedia (MSO) Inc. was unlikely to be taken over and is in print media, the stock may be worth owning for earnings.

Cramer recommended Joy Global Inc. (JOY), Marvell Technology Group Ltd. (MRVL), Ford Motor Co. (F) convertible bonds, Lundin Mining Corp. (LUN), L-1 Identity Solutions Inc., CarMax Inc. (KMX), AutoNation Inc. (AN), Service Corp. International and Level 3 Communications Inc. (LVLT) in response to questions during the show's ``Lightning Round,'' and ``Sudden Death'' segments. He said to buy Palomar Medical Technologies Inc. after the end of a current selloff.

He also told viewers to avoid LSI Logic Corp. (LSI), Ford's common stock, Urban Outfitters Inc. (URBN), Symmetricom Inc. (SYMM), Taser International Inc. (TASR) and Allos Therapeutics Inc.

To contact the reporter on this story: Steven Bodzin in San Francisco at sbodzin@bloomberg.net.

To contact the editor responsible for this story: JoAnne Norton at jnorton@bloomberg.net.

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