Turning to the company's stock buyback program, Jordan said First Horizon continues to drive returns for share holders. He said the bank has bought back $135 million worth of stock and sees a boost to its dividend in the future. As for loan growth, Jordan predicted only modest loan growth consistent with an economy growing at 2% to 3% in 2013.
Cramer said he remains a believer in First Horizon and said that as housing picks up, loan growth will as well.
Shares of Krispy Kreme (KKD) have been on fire of late, up 75% over the past two months. But have investors missed the move? Cramer said not a chance -- he thinks shares can hit at least $14 a share with ease.
Cramer said Krispy Kreme is giving investors two ways to win. The first is the possibility of a takeover. He said similar takeovers have been going for a 30% premium, which would value Krispy Kreme at 29 times earnings, or a whopping $16.24 a share.But even without a takeover, Cramer said the coffee and donut chain is still a worthwhile investment. After a checkered past, the company has now delivered positive same-store sales for 16 consecutive quarters, most recently delivering a 6.8% boost in sales. The company also delivered a four-cent-a-share earnings beat with better-than-expected revenues and upside guidance to boot. Cramer reminded viewers that Wall Street loves growth and Krispy Kreme is continuing to grow its 744-store count, both domestically and abroad. He said the stock remains cheap compared to Dunkin Brands (DNKN), which trades at 23 times earnings with a 17% growth rate, and Starbucks (SBUX), which trades at 21 times earnings with an 18% growth rate.
Lightning RoundIn the Lightning Round, Cramer was bullish on KKR Financial Holdings (KFN), Synovus Financial (SNV), International Rectifier (IRF) and American International Group (AIG). Cramer was bearish on Verizon (VZ) and Aflac (AFL).
A Business TransformedIn a second "Executive Decision" segment, Cramer sat down with Barry Davis, president and CEO of Crosstex Energy (XTEX), a master limited partnership with 3,500 miles of pipeline and 10 natural gas processing plants.
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