Cramer Discusses Upcoming IPO's: KBR from Halliburton

Last night on Cramer’s MAD MONEY on CNBC, Cramer went over upcoming IPO’s on what to look for and what to avoid. He also said he doesn’t want to get caught short this market.KBR (KBR) Cramer said he has been covering this but it is selling 17%, stock is being sold by Halliburton (HAL). KBR is an engineering and constructuring company that builds plants, but it has a permanent dark cloud of negativity and more so now with the Democrats in charge of Congress. Cramer said it is coming very cheap to market because it may get hammered by new Congress or may lose Iraqi business. He said that is just not the right case. Cramer noted it has a $15 Billion backlog and will be valued at roughly $4 Billion in market cap. He thinks it is at a 20% to other engineering and consulting firms. Cramer said even if bad press continues the numbers will speak for itself. It is oversubscriber. He noted the way to play it was to play pin action in Halliburton (HAL). This has the lowest multiple and could get a valuation expansion in its multiples.He still will review NYMEX (NMX), and Hertz (HTZ) in the coming segments.Jon C. Ogg