Exelis has many growth areas, Melcher said, including internationally, where the company derives 10% of its revenues. The demand for Exelis' night vision, radio and networking equipment all remains strong. Additionally, aerospace remains in secular growth mode, and Exelis continues to be a big supplier to Boeing (BA).
Cramer said that companies like Exelis continue to prove that execution matters, even in the face of continuing budget cuts.
Priceline.com in Spotlight
Don't freak out over its price tag, shares of Priceline.com (PCLN - Get Report) are worth every penny, Cramer told viewers, as he highlighted the travel Web site that's given investors a 1,909% return over the past five years, 77% of which came from this year alone.
Cramer called Priceline THE growth stock to own going into the end of the year, as it currently trades for just 19 times earnings despite a 20% growth rate. He reminded viewers that money managers will pay up to twice a company's growth rate, or 40 times earnings, for a stock like Priceline, which is why the stock is incredibly cheap at its current valuation.While its true that Priceline has been rallying for years, Cramer said the company remains the best of breed playing in a secular growth industry. The company has a big exposure to Europe, which is finally taking a turn for the better, and it also derives 75% of its revenues from lucrative hotel bookings and far less from cut-throat airline reservations. Priceline also uses an agency model, acting as a broker between buyers and sellers, taking a 15% to 20% cut of the transaction fee. That makes it a far safer bet than its peers, Cramer said, especially given its scale. Priceline also snapped up Kayak, making it a big player in the fast-growing mobile bookings space. Given the company's huge cash flows, which afford it lots of options for buybacks, dividends and future acquisitions, Cramer said that Priceline should be on everyone's wish list this year. While some fretted over the companies' recent guidance, Cramer reminded viewers that Priceline is renowned for its tepid guidance, which explains the stock's $100 swing from its post-earnings selloff to its close the following day.