Big Winners in a Bad Month: Cramer's 'Mad Money' Recap (Wed 2/28/18)

Don't get too discouraged by Wednesday's big market selloff, Jim Cramer told his Mad Money viewers. The market's leaders bounced back quickly from the last decline, Cramer said, and they'll probably do the same now.

Just look at stocks like Boeing (BA) , a company with unbeatable products and an order book that spans 20 years. Is Boeing affected by a tick up in interest rates or a spike in the VIX volatility index? Cramer said Boeing is headed to $400 a share.

Then there are the other market leaders, like Amazon (AMZN) and yes, Apple (AAPL) , both Action Alerts PLUS holdings. Less than a month ago, analysts were declaring, again, that Apple's best days were behind them. Today, the stock hit a new all-time high.

These are just a few examples of how wrong you'd be by just following the day-to-day stock market action, Cramer concluded. Investing takes discipline, patience and a long-term view.

On Real Money, Cramer says he hopes you didn't get spooked out of these winning stocks. Get more of his insights with a free trial subscription to Real Money.

Executive Decision:

For his "Executive Decision" segment, Cramer again sat down with Marc Benioff, chairman and CEO of Inc.  (CRM) , the cloud computing giant that today posted a-penny-a-share earnings beat.

Benioff said that Salesforce had another blowout quarter and is the faster company ever to reach $10 billion in revenue. Europe remains a growth opportunity for the company, he said, with companies like Adidas using the Saleforce platform to connect and interact with their customers like never before.

Benioff has also been a vocal critic of the technology industry, calling on tech CEOs to "lead with values." He said that CEOs must take responsibility for their technology and know if it's addictive or is manipulating customers or society as a whole. Trust is the most important thing for a CEO, Benioff said.

Cramer and the AAP team are adding to their stake in 3M (MMM) because they think this is going to be a strong year for industrial multinationals. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.

Executive Decision: Under Armour  

In his second "Executive Decision" segment, Cramer sat down with Kevin Plank, chairman and CEO of Under Armour (UAA) , the athletic apparel maker that struggled in 2017, but as rallied 15% so far this year.

Plank said he was humbled by last year's missteps, but this year, Under Armour is focused, confident and will be the best at getting better. His company made three important changes in 2017, Plank said. They upgraded their technology, they changed their structure and they doubled down on innovation.

Now, instead of having a head of footwear and a head of apparel, Plank said they have the head of running and a head of basketball, a structure which brings them closer to the consumer and better able to meet and anticipate their needs.

Plank was also upbeat about the connected fitness movement, where Under Armor has 225 million members tracking their workouts.

Finally, when asked if he was completely focused on Under Armour's turnaround, Plank responded, "there's no place I'd rather be."

Is Papa John's Having a Domino's Moment? 

How can a company post miserable earnings and still see its shares rally? That was the case today with Papa John's (PZZA) and Cramer explained why.

Papa John's posted stunning disappointing earnings, missing estimates by five cents a share with a decline in same-store sales of 3.9%. Shares have fallen over 36% from their highs in 2016, as the company has been hit by disappointment after disappointment. In its previous quarter, Papa John's blamed controversies at the NFL for its weakness, marking a new low for the company.

But Cramer said Papa John's could now be having their "Domino's moment," referring to Domino's Pizza (DPZ) remarkable turnaround from a few years ago. The company announced it's long-time CEO is stepping down and they're ending their sponsorship with the NFL.

As for the stock, Cramer said at 19 times earnings, Papa John's has transitioned from growth to value and may be attractive to investors betting on a turnaround or a potential acquisition.

No-Huddle Offense 

In his "No-Huddle Offense" segment, Cramer said sometimes the losers are the real winners. That may be the case with Lowe's Cos. (LOW) , which saw its shares plunge 6.47% Wednesday after a monster earnings miss of 13 cents a share.

There's no denying that rival Home Depot (HD) is the better company, Cramer admitted, but in the case of the stock, Lowe's is now cheaper and unlike Papa John's, Lowe's management owns up to missteps.

On its conference call, Lowe's management admitted that it needs to do better and assured investors it would do just that. Cramer said Lowe's is not getting the credit it deserves and the stock will be a buy once the analyst downgrades are done.

Lightning Round

In the Lightning Round, Cramer was bullish on Magellan Midstream Partners (MMP) , Johnson & Johnson (JNJ) , Herman Miller (MLHR) , Alibaba (BABA) , Nokia (NOK) and Micron Technology (MU) .

Cramer was bearish on Steelcase (SCS) .

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