Jim Cramer Advises His Viewers On Oclaro, Alaska Air And Stamps.com

On CNBC's "Mad Money", Jim Cramer said he would stay away from Oclaro Inc OCLR. He explained that the stock missed earnings estimates and he wants to wait for three months, because this could be the first of many bad quarters.

Alaska Air Group, Inc. ALK is not making the numbers it used to, said Cramer. He would rather own Southwest Airlines Co LUV.

Stamps.com Inc. STMP is a very difficult stock to value, because it has been a big short squeeze, said Cramer. He doesn't want to buy the stock.