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Cramer's 'Mad Money' Recap: No Reason to Panic

Eaton has a long history of dominating its markets, said Cramer, and he sees no reason for that trend not to continue. Shares of Eaton currently trade at just 7.7 times earnings, while historically shares fetch on average 13.1 times earnings. With Eaton's exposure to the fast-growing energy efficiency and aerospace markets, Cramer said that Eaton is most certainly a buy at these levels.

Lightning Round

Here's what Cramer had to say about caller's stocks during the "Lightning Round":

Cognizant Technology (CTSH): "I'm sending you to Accenture (ACN), which is a better buy and cheaper."

Las Vegas Sands (LVS): "I am worried about Chinese slowing, but it is the best of the bunch."

Fortinet (FTNT): "I like it longer term, but let's wait and see. I can't recommend it here."

Rosetta Stone (RST): "That is way too speculative for me."

Isis Pharmaceuticals (ISIS): "I like this kind of stock. It has no economic sensitivity."

Gentex (GNTX): "No. I am very worried about them. There are real issues there."

Executive Decision

In the "Executive Decision" segment, Cramer spoke with Kelcy Warren, chairman and CEO of Energy Transfer Partners (ETP), a pipeline master limited partnership with an 8% yield. Cramer currently owns shares of Energy Transfer for his charitable trust, Action Alerts PLUS.

Warren said master limited partnerships have not been faring well in the markets as of late. He called it an "odd market" where an 8% yield is out of favor.

That said, Warren admitted that Energy Transfer Partners has created a complicated story with a large acquisition and a drop-down of assets from its parent company. He said the company is working to simplify the balance sheet and will be answering many questions in the months to come.

However, as a result of the asset reshuffling, Energy Transfer is in a "good position," said Warren, with assets in the right place at the right time. The company is still investing over $2 billion into new pipeline projects, he said, all of which will offer huge growth. "We continue to be a growth story," said Warren.

Warren confirmed that his company will still need to issue equity to fund its growth, but added that the recent sale of its propane business has added to their cash position. With natural gas storage facilities starting to show supply and demand in balance, Warren expects growth to pickup soon.

Cramer continued his recommendation of Energy Transfer Partners.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer opined on the sudden change in fortunes for Celgene (CELG) after the company pulled its European application for Revlimid, its primary cancer-fighting drug. Meanwhile, rival Onyx Pharmaceuticals (ONXX) received approval for a similar drug. Has an old star fallen while a new one is being born, asked Cramer?

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