'Mad Money' Spotlight: Cramer Shames Valero

Still, according to Cramer, Kleese took bumbling from a hobby to an art form when Valero announced the company's 40 million share offering this week. On Tuesday, they released the dreadful forecast. On Wednesday, the market responded predictably -- sending shares in the Texas-based oil refiner plummeting nearly 18% to finish at $18.40. And at the end of the day, Valero priced the offering at $18 per share.

Nice work.

In a release, the company said it plans to "use net proceeds of the offering for general corporate purposes, including its capital spending program as well as recently completed and pending acquisitions."

And the topper: These moves comes only after buying back 141 million shares over the past three years at sky-high prices, totaling nearly $9 billion.

But today, Valero is trading in positive territory, along with most of the energy sector. It looks like many investors got past yesterday's bearish crude-oil inventory numbers and moved on to today's better-than-expected jobs data. Valero was changing hands up 32 cents, or 1.8%, by early afternoon.

Last month, the company continued a recent buying binge by entering into a deal to buy a 45% interest in Total Raffinaderij Nederland N.V. from Dow Chemical(DOW Quote). The $725 million deal is intended to give Valero a European foothold, building on international expansion plans.

We'll see how that one works out.