Finally, there's Diageo (DEO), another Cramer favorite. Shares have risen 14% since October and Cramer said this company continues to deliver for shareholders.
Hit the DECK
Speaking of circling back to old ideas, Cramer also took a new look at Deckers Outdoor (DECK), makers of Uggs boots and Teva sandals. Deckers has been one of Cramer's favorite footwear plays, but the stock imploded in 2012 -- falling from a high of $117 a share down to just $28 a share as investors feared that the Uggs fad had run its course.Deckers did not help its situation by slashing guidance as its sales slowed at the same time its prices for materials like sheepskin were on the rise. The trends, said Cramer, were horrid, which explains why nearly 46% of Deckers' shares are still sold short. But things are looking up for Deckers. The company posted stronger sales and is seeing its materials prices begin to decline. Deckers caught an important upgrade Monday, which sent shares up a quick 10%. What do the analysts see in Deckers? In a word, takeover. Cramer said VF Corp (VFC) has a terrific acquisition in Timberland footwear, leading may to think Deckers could be an attractive target. Until now, the fundamentals at Deckers had been horrible, keeping suitors away. But with things looking up, the tide may be turning, according to Cramer. With the fiscal cliff looming, Cramer said that he'd only start half a position now, and buy more on weakness or after the fiscal cliff is solved.