Cramer's 'Mad Money' Recap: Bet on the Thoroughbreds

Ettinger said Hormel is emerging as a leader in the sandwich market and the company now has a strong presence three of the top four sandwich categories. He said Skippy will enhance Hormel's business model and he's confident in their projections for both growth and margins.

When asked how Hormel will be able to run Skippy better than giant Unilever (UL), Ettinger said Hormel excels in niche areas and has proven it can hold its own against bigger competitors. Skippy also fits well into Hormel's international strategy, particularly in China.

Skippy also gives Hormel a bigger footprint into the healthy eating category, noted Ettinger, and fits into Hormel's plans to build a broad portfolio of brands that span multiple categories and channels. Ettinger said the Skippy deal was not a strain on his company's balance sheet and the company remains committed to its dividend and its long history of paying one.

Cramer called the Skippy deal "transformative" for Hormel.

Lightning Round

In the Lightning Round, Cramer was bullish on Whiting Petroleum (WLL), Becton Dickinson (BDX), Hain Celestial (HAIN), Whole Foods Markets (WFM) and Sprint Nextel (S).

Cramer was bearish on Medtronic (MDT), The Geo Group (GEO), Mako Surgical (MAKO), Amarin (AMRN) and Clearwire (CLWR).

Am I Diversified?

In the "Am I Diversified?" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.

The first portfolio included: Starbucks (SBUX), Facebook (FB), Apple (AAPL), McDonald's (MCD) and Pandora (P).

Cramer said that he's not a fan of McDonald's or Pandora and would add an industrial and a health-care or drug stock to complete this portfolio.

The second portfolio's top holdings included: 3D Systems (DDD), Chicos (CHS), United Rentals (URI), Neustar (NSR) and Wells Fargo (WFC).

Cramer advised selling Neustar and adding a health-care stock in order to diversify this portfolio.

The third portfolio had: KeyCorp (KEY), Cheniere Energy (LNG), Valero Energy (VLO), Jarden (JAH) and SPDR Gold Shares (GLD) as its top five stocks.

Cramer said this portfolio has too much energy with Valero and Cheniere so he once again advised selling Valero in favor of a health-care stock.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer reminded viewers that while most retail stocks are cheap, only a few are worth buying.

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