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Cramer's 'Mad Money' Recap: Ignore the Headlines

The market is also clamoring for restaurant stocks, with everything from fresh IPOs like Chuy's Holdings (CHUY) and Bloomin' Brands (BLMN) to old standbys including Red Robin Gourmet Burgers (RRGB) solidly in the black for the year.

With so many things going in its favor, Cramer said it's easy to see why the market quickly snapped up Noodles and continues to drive the stock higher. He said that while he wouldn't buy the stock at current levels, he would be tempted on any weakness.

Be Cautious on Onyx

Shares of Onyx Pharmaceuticals more than doubled on the news the company is being acquired, but Cramer reminded investors that risk-reward matters and in the case of this red-hot biotech, the easy money has already been made.

That's why Cramer said he'd ring the register and sell shares of Onyx, despite talks of the company receiving an even higher bid. "There are better ways to play this sector," he said, including some long-standing recommendations like Seattle Genetics (SGEN), Immunogen (IMGN) and BioMarin (BMRN).

But investors truly looking to cash in on the long-term promise of the biotech group need to stick with the big boys, said Cramer, mainly Celgene and Gilead Sciences (GILD). He said both Celgene and Gilead have what it takes for the long term and he'd be a buyer of any of these names on the next market pullback that puts them on sale.

Lightning Round

In the Lightning Round, Cramer was bullish on Hershey Foods (HSY), Walgreen (WAG), CVS Caremark (CVS), Bed Bath & Beyond (BBBY), Dean Foods (DF), Five Below (FIVE), Six Flags (SIX), Cedar Fair (FUN), Kodiak Oil & Gas (KOG) and Celldex Therapeutics (CLDX).

Cramer was bearish on Vale (VALE), Pengrowth Energy Trust (PGH), EMC (EMC) and Oracle (ORCL).

Mad Tweets

In the "Mad Tweets" segment, Cramer responded to questions sent via Twitter to @JimCramer.

Starting with a round of biotech names, Cramer said Trius Therapautics (TSRX) was "too hot to handle," but he would bless Array Biopharma (ARRY), which is up 27% so far this year. He said that investors missed the move in Cytokenetics (CYTK) if they're not already in it.

When asked about Sony (SNE), Cramer said the stock is not expensive but he's not betting that a breakup is eminent. He was still bullish on Costco (COST), but said that Broadcom (BRCM) needed to be sold.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer sounded off against the notion that acquiring another company is a bad thing. He said that companies need only look at ConAgra (CAG) and B&G Foods (BGS) for two recent examples of acquisitions done right and ones that are making shareholders money.

Cramer said he was hard-pressed to think of a recent merger that wasn't a big win for investors. That's why company managements need to "wake up and acquire" if they want to reinvigorate their stall share prices and growth rates.

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 COST and VALE.

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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