Cramer's 'Mad Money' Recap: When Progress Isn't Good

Cramer said adding up all of Warnaco's assets would take shares dramatically higher than where they trade today. He only hopes company management is listening.

Lightning Round

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

Lululemon Athletica (LULU): "I like Lululemon. They are a well-run company."

Magnum Hunter Resources (MHR): "This is a spec on oil going back to $120. That's where this stock would hit a new all-time high."

Ross Stores (ROST): "This is part of a complex that's being sold. That's a mistake. They should be bought right here."

Hain Celestial Group (HAIN): "Hain did a good job and delivered. I like that story."

Wells Fargo (WFC): "I want you to be big in Wells Fargo. They have 30% of America's mortgage market. Pull the trigger right here."

Pulte Homes (PHM): "It's good, but Toll Brothers (TOL) is the best. I'm going to say don't buy and wait for a pullback."

Cobalt International Energy (CIE): "It's still up for the year but oil has to go up big for it to work. Let's wait for crude to comeback, then this stock will come back."

Realty Income (O): "I like their acquisition. I want to pull the trigger tomorrow."

United Technologies (UTX): "People don't like aerospace, but that's wrong. I think under $80 you have a big opportunity."

Conference Preview

In the middle of this year's conference season, Cramer highlighted what he called his favorite one of the year, the UBS Global Life Sciences Conference, which gets under way Wednesday. He provided viewers with a outline of what to expect during the presentations, which are usually available via webcast.

Cramer said Allergan (AGN) remains a favorite and he's anxious to hear about the company's new indications for Botox and get an update on its pipeline of new products. Gilead (GILD) will also be presenting, and Cramer said that stock is not done going higher despite its recent 10% move up.

Cramer was also bullish on Celgene (CELG), another favorite biotech with a terrific pipeline of new drugs on the way.

Cramer was less enthusiastic about Isis Pharmaceuticals (ISIS) along with Ariad Pharmaceuticals (ARIA) and Affymax (AFFY), three companies that have become too hot to handle.

As a speculative play, Cramer noted NPS Pharmaceuticals (NPSP), a stock that's up 25% for the year. He said the company's two orphan drugs should be receiving news next month, so there's no hurry for investors to buy in on Wednesday's presentation.

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