Here is a review of the performance of Jim Cramer’s stock picks from Wednesday’s Mad Money show.

Williams Sonoma (WSM: 36.51 0.00%)
The retail stock gained 5.0% today after Cramer’s recommendation on last night’s Mad Money show. Cramer believes that back to school sales are going strong and recommended Williams Sonoma along with Tiffany’s (TIF: 65.16 0.00%), Family Dollar Stores (FDO: 57.53 0.00%) and Ralph Lauren (RL: 157.41 0.00%).

Big Lots (LOTS: 0.00 N/A)
In part 3 of the weeklong series, Jim Cramer profiled Big Lots as a potential candidate to be the next “discount king”. The company has been able to beat Wall Street’s estimates and has increased its 2009 guidance. While same-store sales have been declining, Cramer believes that trends will change by the end of the year. With the stock trading at a discount to peer Costco (COST: 85.04 0.00%), Cramer believes the stock is cheap and recommends buying.

Cramer’s Lightning Round stock picks:

Caterpillar (CAT: 113.78 0.00%) dropped 0.4% – Cramer believes the stock will likely dip back down to $40, but is bullish over the long term.

Kirklands (KIRK: 16.78 0.00%) rose 6.6% – “They put up some good numbers and I think it goes higher.”

Oracle (ORCL: 29.00 0.00%) dropped 0.2% – This tech stock bucked the “Cramer effect” and fell despite a strong buy recommendation from Jim Cramer.

AT&T (T: 29.97 0.00%) fell 0.3% – Cramer feels the telecom stock is going from $25 to $30, but the markets seem to shrug off the recommendation.

Verizon Communications (VZ: 38.14 0.00%) dropped 1.3% – Cramer believes that Verizon is going from $30 to $35.

Cinemark Holdings (CNK: 20.26 0.00%) fell 0.1% – Cramer dislikes the cinema business due to their high debt loads.

CNH Global(CNH: 43.38 0.00%) gained 0.5% – Cramer was bearish and recommended selling the stock.