Altria (MO), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, recently spun off its Philip Morris International operation, creating two separate companies. In a recent episode of “Mad Money”, Cramer opined what investors should do with these offerings. The new Altria will consist of 85% domestic tobacco sales, with the company's investment in SABmiller Brewing along with other investments making up the remainder. Cramer liked the company's cost cutting measures, stock buy-back program and 5.2% dividend yield. Cramer also indicated that although the domestic tobacco business declined 5% last year, Altria commands 41% of the marketshare in that business. The new Philip Morris International, which is set to trade under the ticker symbol "PM," will consist solely of international tobacco sales. Cramer stated, "This is where the growth is.” He also added that the new Philip Morris is expected to grow 10% to 12% annually, provide a 3.6% dividend yield and offer a stock buyback program. If viewers are looking for a value stock, then the old Altria, with its dividend, aggressive cost-cutting and buyback program is where they should be. For growth-focused investors, Cramer suggested Philip Morris based on its double-digit growth expectations.

Cramer recently apologized to viewers for standing behind Schering-Plough (SGP), a stock which he owns for his charitable trust, Action Alerts PLUS. The stock lost nearly 20% of its value recently after the company's anti-cholesterol drug was harshly criticized at a cardiology conference. Cramer, who got behind Schering early largely because of company Chairman and CEO Fred Hassan, welcomed Hassan to his show recently to ask him what the company was going to respond to the bad news. Hassan defended the company, saying Schering's products and outlook remains the same. He was frustrated that a scientific forum was not conducted to evaluate the drug. Hassan stands behind Vytorin and pointed out the company’s strength in Remicade and Organon, two other drugs. Cramer said that while he felt that Schering's stock is now "ridiculously cheap," he advised investors to do their own homework and decide for themselves whether or not to continue investing in the company.

Cramer said, "Every time I want to say it's cheap, it gets even cheaper. I just don't think there's anything proprietary there. I don't want to own that stock."

From 4/9/08: Cramer stated, “They're starting to do some good things over there and get their arms around the problems, but for now it's "don't buy"."

From 4/11/08: Cramer stated, "No, I've been out of that company since 1994. It's scary. I don't care that its only at $6, stocks can still go lower. You don't touch that."

From 4/11/08: Cramer stated, "I like the CEO, but I don't want to own any brokerage stocks. I like JPMorgan Chase (JPM) and Goldman Sachs (GS), but Jefferies missed the quarter and that should've been an easy one for them."

From 4/10/08: Cramer stated, "Yahoo is already done. There's maybe one to two points of upside. I say no to Yahoo."

From 4/10/08: Cramer stated, "I hate to recommend a stock solely on its yield and potential upside, but that's exactly what this one has. I still like Merck (MRK) more though."