JC Penny’s (JCP: 42.35 +0.50%) jumped 9.7% after Cramer said he thinks the retailer will have a great back-to-school season. He also recommended Urban Outfitters (URBN: 27.14 +0.89%) which gained 6.8%. 

One financial stock that Cramer continues to recommend is Huntingdon Bancshares (HBAN: 6.05 +2.02%). The stock jumped 6.6% on Friday after Cramer said the stock is “dynamite” and he prefers it over KeyCorp (KEY: 8.17 +1.24%). Cramer recommends investors continue buying Huntingdon. 

Cramer all tried to reassure the market in the wake of the accounting scandal at Huron Consulting (HURN: 38.33 -0.80%). While Huron has seen its stock price fall nearly 70% in the last few days and probably has completely destroyed its reputation, Cramer sees opportunity in some of the other accounting firms that have fallen along with Huron. Cramer recommended Duff & Phelps (DUF: 14.87 -2.81%), but also likes FTI Consulting (FCN: 43.14 -1.12%). The stocks reacted positively to Cramer’s bullish recommendation gaining 2.7% and 2.9% respectively. 

Citigroup managed only a 1.3% gain on Friday despite Cramer spending a great deal of time on his show outlining the merits of investing in Citigroup. While Cramer believes that investing in Citigroup is like investing in America, he also laid out five reasons for investors to be buying Citi’s shares: 

1. It is very cheap. Cramer believes the book value is about $4 per share and thinks the stock should sell at 1.5x book value for a $6 price target.

2. The governments 34% stake. The government can sell its 34% stake in Citigroup on September 10. The government has already made $5 billion on its position, and could have a $20 billion windfall from the sale.

3. Geographic positioning. Citigroup is the dominant bank in 108 countries. In spite of its domestic woes, Citigroup is still the leader in emerging markets.

4. Good bank vs. bad bank. Citigroup is spinning off its toxic loans by dividing itself into two companies. This will leave the main bank with three profitable businesses; retail banking, global services and investment banking.

5. Solid management. Cramer likes the current management team at Citi and believes the government would be crazy to replace CEOs Vikram Pandit and Ned Kelly.

Shares of Wynn Resorts spiked up 13.3% after a very positive recommendation from Mr. Cramer. “Wynn Resorts is a $70 stock masquerading as a $50 stock”, said Cramer. Evidently investors took that advice to heart as the stock closed at $58, well on its way to Cramer’s $70 price target. 

Time Warner also benefited from the “Cramer effect” on Tuesday with the stock up 3.0%. Mr. Cramer spent almost an entire segment of his Mad Money show talking up Time Warner. He believes the company has a stellar CEO in Jeffrey Bewkes and has many the necessary decisions to sell off the underperforming parts of the company (such as AOL). TNT, TBS and the Cartoon Network have “endlessly re-runnable material” and its movie business (which has a 21% market share), generated a record-breaking $1.8 billion in revenues. While the magazine business continues to struggle in this weak ad environment, the company owns the iconic names in the business: Fortune, Time, and Sports Illustrated.  Cramer is bullish on Time Warner and sees the stock reaching $32-34 as the advertising environment recovers. 

Cramer also recommended two Brazilian utility stocks that did quite well on Tuesday. CPLF Energia (CPL: 30.86 -0.71%) gained 3.5% and Cemig (CIG: 21.05 +0.96%) jumped 2.4% after Cramer recommended these stocks as a play on the weak US dollar. Both stocks offer very high dividend yields which Cramer believes will remain safe. 

Other Cramer stock picks: 

Potash (POT: 46.46 +1.02%) gained 2.8% – After Cramer said that agriculture is the best place to be in today’s market.

Fifth Third Bank (FITB: 13.61 +0.59%) rose 4.1% – Cramer said these are the stocks in the banking sector that people want to be in right now.

PPG Industries (PPG: 91.61 +0.37%) jumped 3.7% – Cramer reiterated his bullish position on the stock and their 4% dividend yield.

JC Penny’s (JCP: 42.35 +0.50%) dropped 1% and Darling (DAR: 16.07 +1.07%) fell 2.2% – After Cramer said that neither stock was worth buying.