Cramer's 'Mad Money' Recap: Follow the Market Leaders

During the last round of bank stress tests, SunTrust failed to make the grade, but Cramer said the company has been aggressively working to better its balance sheet and lower its expenses by workforce reductions. It has also been growing its deposit base while making more money from increased mortgage activity throughout the Southeast and Mid-Atlantic, where it remains a dominant player. SunTrust delivered a four-cent-a-share earnings beat when it last reported.

With SunTrust expected to pass this round of stress tests with flying colors, Cramer said he expects to see the company buy back as much as 5% of its shares, thereby dramatically reducing its share count and boosting its earnings per share. He also expects to see a sizable dividend boost to boot.

Cramer said expectations for SunTrust are very low, which has caused the stock to lag its peers, something he expects will change starting next week.

Building an Energy Renaissance

The North American energy renaissance rages on, Cramer told viewers, and that's great news for not only the oil and gas companies but also for the engineering and construction companies that are helping to build out our much needed energy infrastructure.

Everything from pipelines to power plants to refineries to export terminals are being built, explained Cramer, and one company, Chicago Bridge & Iron (CBI), seems to be at the heart of it all.

Cramer said that despite its name, Chicago Bridge and Iron, another Action Alerts PLUS holding, doesn't just build bridges and it isn't located in Chicago. But that didn't stop it from delivering an eight-cent-a-share earnings beat on a 22% rise in revenues, sending shares to all-time highs.

Compare that to another engineering and construction player, Foster Wheeler (FWLT), which posted a 19-cent-a-share earnings miss on a 35% fall in revenue, and Cramer said it's easy to see which company is the best of breed of the group.

Chicago Bridge's strength is being helped by its acquisition of Shaw Group, which has helped send its backlog of business to a staggering $28 billion. Yet, the stock still trades at just 14 times earnings with a 23% growth rate. Cramer said that low valuation won't last long as the company has an analyst day coming March 28 and will be explaining to the world just how well the Shaw acquisition is going.

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