Cramer's 'Mad Money' Recap: Wild About Defense

As the military industry continues to spend, Alliant's numbers should come up, Cramer said. The company has an "amazing" buyback, so much so that "some would say it's taking itself private."

In fact, the decrease in Alliant's share count leads Cramer to believe there is an upside surprise coming soon.

However, if people are going to buy Alliant, they should be careful, Cramer warned. The company reports earnings Thursday. He said he would put half his position on before the quarter in case it runs after it reports.

B&G Foods' (BGS Quote) President and CEO David Wenner joined Cramer on his show and discussed his company's plans.

B&G tends to buy smaller brands that have been neglected but have great brand equity and margin structures, Wenner said. "We focus on them and are typically successful in turning them around."

When Cramer asked whether B&G is able to pass on the food inflation, Wenner said the company has done so this year and that it's a trend that's improving.

For those investors who are worried about being in a world where mortgages are causing pain, Cramer suggested taking a look at BGS.

During the "Sudden Death" round, Cramer was bullish on Wal-Mart (WMT Quote) and bearish on Global Payments (GPN Quote).