Cramer's 'Mad Money' Recap: Tech Tonic

Powell noted that General Mills first predicted raw cost inflation in 2003 and 2004, when the company began taking steps to combat them. He said that the company has an intensive, holistic approach to eliminate waste and cut costs.

Powell also cited strong international growth as a key to the company's continued success. With 25% of the company's sales now overseas, Powell sees continued growth in China and in other overseas markets.

Finally, Powell said that new products and innovation are driving his company forward. He noted the company's "Fiber One" brand as one that's doing exceptionally well in an otherwise difficult market.

Outrage of the Day

In this segment, Cramer called out Fortress Investment Group (FIG Quote) chairman and CEO Wes Edens for his $300 million payment to CIO Adam Levinson while the company posted a $55.6 million loss for the quarter with revenues falling 30%.

Cramer also directed viewers to the recent action in Great Atlantic & Pacific (GAP Quote), which also posted a horrible quarter, but is now seeing strong insider buying.

Finally, Cramer said the time is now right to buy Fluor (FLR Quote). He said the stock has fallen way to far in relation to the price of oil and natural gas. He's also bullish on Nabors Industries (NBR Quote) and Halliburton (HAL Quote).

Cramer also sees strength in the defense contractors ahead of the Republican Convention. He recommended General Dynamics (GD Quote), L-3 Communications (LLL Quote), Northrop Grumman (NOC Quote) and Raytheon (RTN Quote) as great short-term plays.

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