Looking for a stock that's both recession-proof and doesn't have anything to do with the fiscal cliff? Cramer said investors need to consider
(ABT - Get Report)
, a stock he owns for his charitable trust,
Action Alerts PLUS
, which has not one, but two catalysts helping to drive shares higher.
Cramer reminded viewers that back in October 2011, Abbott Labs announced it would be splitting itself into two companies as of Jan. 1, 2013. Shares have already posted a 21% return since that news, but Cramer said there's more to come now that the split is only 53 days away.
It may seem counter-intuitive that two companies would be worth more than one, said Cramer, but in fact, Abbott's pharma business and its diagnostic and medical devices business grow at different rates and therefore appeal to different investors.
He said the future Abbott Labs will have faster growth with a lower yield, while the new pharma company will have slower growth but a juicy 4% yield. Add those two companies together and they're worth $74 a share, said Cramer.
But Abbott also has a second catalyst, and that's positive data on it's Hepatitis C treatment. That news will be relayed at an upcoming conference and should also help send shares higher.
Cramer said with Abbott Labs trading at just 12.2 times earnings with a 9% growth rate, he'd be a buyer through the end of the year, especially since shares have come down eight points off their highs.
In the "Executive Decision" segment, Cramer once again spoke with Cheryl Bachelder, president and CEO of
, purveyors of the Popeye's Louisiana Kitchen chain of quick-serve restaurants. Shares of AFC are up 85% for the year and 14% since Cramer last spoke with Bachelder in August.
Bachelder said that Popeye's new flavorful menu is bringing excitement to the stores and is part of the reason the company delivered a an earnings beat of 2 cents a share on a 6.3% rise in same-store sales. She said the company's fourth annual crawfish festival is once again being well received and is proving that seafood should remain a mainstay on the Popeye's menu.