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Cramer's 'Mad Money' Recap: Europe Can't Keep Stocks Down for Long

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NEW YORK ( TheStreet) -- While Europe never fails to hurt our markets in the short term, U.S. companies nerve fail to impress over the long term.

That's how Jim Cramer saw Monday's trading action. He told "Mad Money" viewers it should come as no surprise that just about everyone hates the Cyprus bailout plan.

Europe once again proves it has no plans for growth, a stance that has yet again managed to ding the overall global economy, he said. This is certainly true with companies that sell into Europe including Caterpillar (CAT) and John Deere (DE).

But then there are the rest of U.S. companies such as Kraft (KFT) and General Mills (GIS), both of which are offering a flight to safety out of the European malaise. Cramer said investors and corporations would be foolish to keep their money in European banks, which is why U.S. banks continue to trend higher.

Cramer said it's hard to ignore the strength in U.S. housing stocks given the affordability and easy availability of credit. It's also hard to ignore many of the master limited partnerships, which continue to increase the size of their dividends. So while Europe may dominate for a few days, it won't be long before U.S. stocks are back in control of the market's direction.

Know Your IPO

In the "Know Your IPO" segment, Cramer offered a look into Pinnacle Foods, which is set to come public this Thursday. Cramer said Pinnacle reminds him a lot of another favorite food company, B&G Foods (BGS), which has made a name for itself by buying forgotten brands and turning them around.

Pinnacle's current brand portfolio currently holds such notable names as Bird's Eye vegetables, Mrs. Paul's fish, Celeste pizza and Lender's bagels, just to name a few. The company was purchased by Blackstone (BX) in 2007 but now Pinnacle is set to offer 29 million shares in a range between $18 and $20.

Cramer said there's a lot to like about this deal because many private equity-backed deals have seen big pops on their first day of late. Pinnacle plans to offer a dividend of 18 cents a share right out of the gate, which would afford it a 3.8% yield. The company also plans to retire a sizable chunk of its high-interest debt with the proceeds of the IPO.

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