Cramer's 'Mad Money' Recap: 'Fallen Angels' Prepare for Flight

"The fallen angel will get its wings back," he said. In fact, Cramer said the stock should go back to where it was before this fiasco -- right after it reports on Feb. 6 -- and continue to climb higher.

Cramer would be a "serious buyer" of VF ahead of its earnings report.

Flight Time

Amgen (AMGN Quote) is another stock that has taken a hit for the wrong reasons, Cramer said.

Last week it got its wings ripped off because of headlines that said its Aranesp drug was fatal to some patients, Cramer said. But the bad headlines, which caused the stock to fall, were actually off base, he said.

The patients who died had terminal cancer and had given up on chemotherapy and radiation treatment, Cramer explained. They weren't expected to get better.

While Amgen fell in part because of the negative headlines, it also fell because it gave low guidance, Cramer said.

Amgen is notorious for being conservative with guidance, he said. Therefore, if history repeats itself, he believes that people should see an upside surprise here.

The fact that Amgen is selling like a traditional slow-growth pharma company is "crazy," Cramer said.

Forget the headline risk, because with steady earnings growth and with a new colon cancer drug and new osteoporosis drug in its pipeline, the stock has only good news ahead of it, he said.