Cramer's 'Mad Money Recap': Foster Wheeler: Setting the Record Straight

Going forward, Cramer said Schering-Plough is a buy at these prices. He said the company is much more diversified than it previously was and feels that such hostile negative news won't be repeated.

Am I Diversified?

Cramer played "Am I Diversified" with callers to see if their portfolios have what it takes.

The first caller's portfolio included Verizon (VZ Quote), JP Morgan (JPM Quote), Dow Chemical (DOW Quote), Merck (MRK Quote) and Altria (MO Quote).

Cramer said this was a great high-yielding portfolio.

The second caller's top holdings included Rite-Aid (RAD Quote), Sirius Satellite (SIRI Quote), Apple (AAPL Quote), Cal-Maine Foods (CALM Quote) and AT&T (T Quote).

Cramer said Rite-Aid, Sirius and Cal-Maine were speculative stocks and he wanted to see changes made. He suggested adding a defense and healthcare stock to the portfolio.

A Strong Report Card

Cramer once again welcomed David Pyott, Chairman and CEO of Allergan (AGN Quote) to discuss his company's outlook.

Pyott said his company has a great story to tell, with sales up 23% year over year, earnings per share up 15%, and R&D spending up by 32%.

When asked about the company's slumping Botox sales domestically, Pyott focused on the drug's strength in overseas markets. He also said Botox is only one part of the company's portfolio and accounts for just 10% of its sales.

Cramer said Allergan is cheap, trading at just 17 times its earnings. He told viewers "this is your change to buy it cheap."

Sudden Death

Cramer was bullish on Murphy Oil (MUR Quote).

Cramer was bearish on VeriFone (PAY Quote).

Lightning Round

In the Lightning Round, Cramer was bullish on DuPont (DD Quote), Dow Chemical (DOW Quote), Marathon Oil (MRO Quote), Sirius Satellite Radio (SIRI Quote), World Wrestling Entertainment (WWE Quote), Eaton (ETN Quote), Parker Hannifin (PH Quote) and ONEOK Partners (OKS Quote).