Cramer's 'Mad Money' Recap for July 23

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People better start caring about General Electric (GE Quote), Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

He argued that while the company's share fells along with the financial sector, it has not rebounded in recent days, leaving it a prime buying opportunity.

Cramer cited an article is this weekend's BusinessWeek, which called into focus GE's exposure to the financial sector.

Cramer, though, said GE is not just a financial. Unlike the financials, GE, with many other businesses, actually made money this quarter, beating Wall Street's expectations, he said.

Furthermore, Cramer noted that the company has plans to sell of its under-performing consumer and industrial segment. The remaining segments, such as its infrastructure division, should all perform well in the coming year.

Cramer said infrastructure companies like Fluor (FLR Quote), Jacobs Engineering (JEC Quote) and ABB (ABB Quote), are up 36%, 24% and 15% respectively year over year, while GE is down 28% over the same period.

Cramer said he also liked GE's wind power business and sees its healthcare segments as an additional driver of growth for the company. He also noted the company's international exposure, which accounts for 50% of the company's sales, and 20% of its sales in emerging markets are further positives for the stock. Cramer also likes the company's 4.5% dividend yield.

But perhaps GE's strongest case, said Cramer, is its recent plans to partner with Abu Dhabi's Mubadala sovereign wealth fund. "The deal can be looked at as almost a second stock buyback program," said Cramer, who noted that the fund's 10% stake in GE could be worth as much as $3.4 billion worth of stock.

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