Cramer said Pepsico remains a terrific turnaround story and Nooyi a terrific global CEO.
In the Lightning Round, Cramer was bullish on
Cramer was bearish on
Executive Decision: Nick Pinchuk
In his third "Executive Decision" segment, Cramer sat down with Nick Pinchuk, chairman and CEO of
(SNA - Get Report), a company that reported a six-cents-a-share earnings beat on lighter-than-expected revenue, but also one that has an excellent read on the economy, said Cramer. The company deals with everyone from auto mechanics to aerospace to power generation.
Pinchuk explained that technology is making the difference for Snap-on. He said even though sales in Europe were down, the company's diagnostic products for cars were up 9.3%, more than offsetting the weakness. Pinchuk said that simple hand tools are not enough to repair today's automobiles, which is why Snap-on has a proprietary database of tips, information and procedures to make thousands repairs based on what the company's diagnostic computers tells technicians.
Snap-on is also "moving out of the garage," said Pinchuk, and into other critical industries such as the military, aerospace and natural resources, all of which appreciate the Snap-on brand and all it has to offer. He also noted that Snap-on is expanding aggressively in China, where many of the cars are still new, but will be needed more repairs starting soon.
Cramer said Snap-on is truly a worldwide technology company and not merely a toolmaker, which is why it deserves its spot on the 52-week-high list.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer sounded off against the bears who claim housing is not big enough to save the U.S. economy, and those who feel that oil and natural gas can't make a dent in hiring.
Cramer's response? "Lies!"
Cramer said that for every one dollar spent on buying a home, dozens of other dollars are spent in everything from the realtor to the moving van to home furnishings and beyond. Housing's effects on the economy are indeed profound, said Cramer, yet complicated lending requirements still hamper the industry.
As for oil and natural gas, Cramer said cheap energy encourages companies from all over the globe to locate here in the U.S. Additionally, with a simple stroke of the pen, President Obama could mandate all government vehicles convert to U.S. made natural gas, and kick off a huge ramp in infrastructure spending.
There is a way out of our joblessness, Cramer concluded. The government just needs to get out of the way.
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-- Written by Scott Rutt in Washington, D.C.
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