Cramer again reiterated his belief that the housing markets have bottomed. In addition, housing now seems to be appreciating in value. Cramer believes this will lead to a positive turn for both KB Homes and Lennar. This recommendation was a change of course for Cramer who said just last month that he would stay away from homebuilders Lennar and KBH despite fair numbers because of stiff competition from foreclosures. “There’s just no money being made by these homebuilders,” Cramer said. This decidedly bullish shift helped both stocks gained over 6% on the positive recommendation. 

Philip Morris shares gained 4.9% after Cramer called the tobacco manufacturer a “quintessential growth stock”. Cramer likes Philip Morris overseas growth opportunities even if sales are sluggish here in the U.S. He also loves Philip Morris’s nearly 5% dividend. 

Other Cramer bullish stock picks: 

First Merit (FMER: 16.55 0.00%) gained 5.2% – “Listen…they’ve done everything right…to the victor goes the spoils.”

BHP Billiton (BHP: 80.73 0.00%) rose 3.3% – After Cramer reiterated that he likes the stock.

Chevron (CVX: 106.76 0.00%) jumped 3.0% – “Now you’re talking…buy, buy, buy.”

Pharmacy retailer Walgreens (WAG: 33.13 0.00%) dropped 5.7% after reporting worse than expected quarterly results. The disappointing earnings results weighed more heavily on the stock that Cramer’s comments on Friday that he liked the stock “a lot”. 

Other stock picks that tumbled today: 

MetLife (MET: 37.69 0.00%) down 7.5% – “MetLife did not need TARP. It’s a very good situation. Two thumbs up.”

JP Morgan Chase (JPM: 38.30 0.00%) down 6.1% – “It’s a good time to buy JP Morgan on sale.”

Union Pacific (UNP: 114.35 0.00%) down 5.3% – “They have the ability to cut costs and grow not just revenue but income.”

First Merit (FMER: 16.55 0.00%) down 4.5% – “I still think that FMER is going to be the winner, when the smoke clears.”

BP (BP: 46.97 0.00%) down 4.1% – “It’s a good time to buy BP on sale.”

Hasbro (HAS: 35.73 0.00%) down 3.3% – “Hasbro is a cheap stock and has steady, consistent growth.”