We're overhauling our Bullpen watchlist — 3 stocks are gone, the rest stick around

Our watchlist of stocks got a much-needed shakeup at the November Monthly Meeting . Jim Cramer on Thursday reviewed the 10 companies in our Bullpen to determine how many still were worthy of being considered for the portfolio. Some were kicked out. Here's what Jim had to say about the whole group. Pepsico : After reporting a bad third quarter with declining sales in its key U.S. market in early October, Jim said it's time to remove the beverage-and-snacks giant from the Bullpen.

Amgen : Shares were hit hard this week on potential safety concerns related to its experimental obesity drug, though the company later pushed back on those claims . Some equity analysts agreed with Amgen's assessment at this stage in the clinical-trial process. Overall, Jim believes Amgen's cancer franchise is undervalued. We're leaving it in the Bullpen because "the stock has got a lot of good things going" besides its obesity treatment, Jim explained.

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