His reply consisted of the three following names:
1) Graco (NYSE:GGG) - Gabelli likes it as a play on the housing market and loves its free cash flow.
2) Weatherford (NYSE:WFT) - Looks very cheap relative to competitors that have been acquired.
3) United States Cellular (USM) - This company will be consolidated at a premium.
Gabelli lays out his reasoning in the video below: