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Cramer's 'Mad Money' Recap: Dazed and Confused Markets

When asked about the company's plans for its cash flows, Bunch said PPG will continue its balanced approach towards its cash, which includes increasing its dividend and boosting its capital spending.

Cramer said PPG is a stock that is "not up enough" given its huge leverage to the return of the Chinese economy.

Executive Decision: Sandy Cutler

In his second "Executive Decision" segment, Cramer spoke with Sandy Cutler, chairman and CEO of Eaton (ETN), another Action Alerts PLUS holding. Eaton saw its shares pop 2.7% after its earnings release and it currently yields 2.75%.

Cutler confirmed the global economic outlook is sluggish, but added that execution matters for companies like Eaton, and his company has been executing very well. He noted that sales were up 24% and profits by 28% for the quarter, thanks to a $50 million restructuring effort, especially in Europe, to help streamline operations there.

Cutler said Eaton's electrical products, which now account for 60% of sales, have been led by innovations in LED lighting and also by moving the company's heavy-duty power equipment products downstream into medium-sized applications. He said that aerospace also continues to be strong for Eaton because the company has products in everything from business jets to large military helicopters.

In the construction market, Cutler said commercial construction is seeing activity in some segments and Eaton is seeing some growth return in the residential market as well.

Cramer once again gave his endorsement for owning Eaton, an industrial stock that's been bucking the weak global economy and still delivering for its shareholders.

Lightning Round

In the Lightning Round, Cramer was bullish on Potash (POT) and First Solar (FSLR).

Cramer was bearish on Sandstorm Gold (SAND), Agrium (AGU), Sunpower (SPWR) and Life Technologies (LIFE).

Executive Decision: Michael Bonney

In a third "Executive Decision" segment, Cramer sat down with Michael Bonney, CEO of Cubist Pharmaceuticals (CBST), a stock Cramer found out about from a caller inquiry during an earlier show.

Bonney said Cubist currently has three drugs in late-stage clinical testings, two of which are new antibiotics. He said his company is bullish on the prospects for all three drugs, including its urinary tract infection treatment, which could represent a $1 billion opportunity.

Regarding the Cubist's antibiotics, Bonney explained that nearly 1.7 million patients acquire infections while in hospitals every year and of those, 100,000 die from them. Given the widespread use of antibiotics in hospitals, Bonney said hospitals have also become hot-beds of drug-resistant antibiotics, which is why Cubist's new drugs are s desperately needed.

Bonney commented on the company's current legal battles regarding patent infringement. He said Cubist will be vigilant in protecting its patents and expects a ruling within the next 30 days. Of the five lawsuits the company has brought, he said only one needs to win in order to keep infringing products off the market.

Cramer said Cubist has a lot of good data points coming this year and investors need to do their homework and read up on the company's prospects.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer clarified his position on Netflix (NFLX), a company he said should be bought by either Apple or Microsoft (MSFT).

Cramer said to be clear, he does not expect Netflix to actually be acquired by either company, but the exercise does show how investment bankers would approach such a merger.

He said that Apple has been trying to expand its TV offerings, and owning Netflix would allow it to bypass its major road block, the cable operators. Meanwhile, Microsoft already has integration with its Xbox, but could do a whole lot more if it owned the company outright. In either case, Cramer said that Netflix could recapitalize its balance sheet and negotiate even better deals for more content going forward.

Will it happen? Not likely. But is it interesting to speculate on the possibilities? Absolutely.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here: Scott Rutt

Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL, ETN and IBM.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC Universal or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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