“I’m out to change the way people look at stocks,” Jim Cramer told fans of his “Mad Money” TV show Thursday. Cramer was out promoting his new mantra that the usual high-tech companies are old news, and that new-tech manufacturers are the real gems in the market because they are solving the world’s most crucial problems. He said he’s adding Illinois Tool Works (ITW) to his list of new-tech manufacturers. The company makes food packaging equipment that helps process and store food more efficiently, in turn reducing waste and feeding the world. Cramer also likes the company’s specialty power segment and growing international revenues. He said the company has great earnings visibility and growth the usual technology company’s dream about. Cramer explained that the stock is down 12% because of a bidding war with Manitowoc (MTW) over Enodis. He said this is a perfect time to pick up shares of ITW because the stock will be driven lower due to the bidding war. Once the bidding is over he thinks the stock will march higher.
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