All About Optimism: Cramer's 'Mad Money' Recap (Tuesday 3/2/21)

Jim Cramer goes straight to the CEO of J&J for the latest on accelerating the production of COVID vaccines -- and what it means to the markets.
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How optimistic should you be about the future and your portfolio? Those were the questions Jim Cramer tackled on Mad Money Tuesday as he opened the show by talking to Alex Gorsky, chairman and CEO of Johnson & Johnson  (JNJ) - Get Report.

On Tuesday, J&J announced a partnership with rival Merck  (MRK) - Get Report to ramp up their one-dose COVID vaccine even faster.

Gorsky said J&J has been working nonstop for 13 months to produce a safe and effective vaccine to help end this pandemic around the world. Now that Johnson & Johnson's vaccine is approved for use, it was only fitting to partner with Merck to bring 30 million doses by the end of March and over 100 million doses in the first half of 2021. Gorsky said the cooperation between J&J, Merck and the federal government, under the defense production act, has never been better.

J&J plans go well past U.S. borders, however. Gorsky said they're committed to working with Europe and the developing world to ensure that everyone on the planet has access to vaccines as quickly as possible. The fact that Johnson & Johnson's vaccine is only a single dose and doesn't require special refrigeration are key to these efforts.

When asked when the pandemic will be over, Gorsky said the next several months will be critical. He said we can't let our guard down or relax restrictions too early, but he's optimistic that by summer we'll have made significant progress.

Executive Decision: XL Fleet

For his second "Executive Decision" segment, Cramer also spoke with Todd Hynes, founder and president of XL Fleet  (XL) - Get Report, the leader in hybrid and electric conversions for fleet vehicles. Shares of XL Fleet closed up 7.4% Tuesday.

Hynes comments on XL Fleet's new mega-charging station at UBS Arena in New York City, which will provide an incredible 1,000 EV chargers. When completed, the station will be seven times larger than the current largest public charging facility. Hynes explained that during events, the stations will be used by arena patrons, but at night, the charging center will provide fueling for fleet vehicles. The project includes not just chargers, but also power generation, storage and power management to keep the electrons flowing.

Stations like these are important because transportation is the largest source of emissions in our country. By converting fleet vehicles to hybrid and fully electric, we can significantly reduce those emissions, Hynes added.

XL Fleet currently has over 200 customers, including municipalities, hospitals, shuttle buses and more.

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Executive Decision: Canopy Growth

For his next "Executive Decision" segment, Cramer welcomed back David Klein, CEO of Canopy Growth  (CGC) - Get Report, the Canadian cannabis grower with shares up 43% for the year.

Klein had positive things to say about Quatreau, his company's first CBD-infused beverage. He said sales are off to a brisk start and Canopy is using the experience to "test and learn" how they will market drinks like these in the U.S.

Canopy's "secret sauce" is their partnership with Constellation Brands  (STZ.B) - Get Report, Klein explained. His company is leveraging Constellation's production and distribution capabilities to bring products to market at scale where others simply can't.

Shifting focus to the U.S., Klein said the trend towards legalization for cannabis continues, and he's confident that through increased education and awareness, everyone will have a good experience with cannabis products. In the meantime, Canopy is focused on operating a profitable business so they will not be seen merely as a speculative company.

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Executive Decision: Public Service Enterprise Group

For his final "Executive Decision" segment, Cramer checked in Ralph Izzo, chairman and CEO of Public Service Enterprise Group  (PEG) - Get Report, the utility with a 3.7% dividend yield.

Izzo reiterated that Public Service has announced they will be divesting in the carbon-based generation assets to focus solely on carbon-free assets in the future. One of those assets will be an offshore wind farm in Cape May, NJ. Izzo noted that the turbines will be 16 miles off the coast, which will make them nearly invisible to beach goers, but will provide clean, reliable power.

When asked about nuclear power, Izzo explained that many people fear nuclear plants as they get older, however plants are constantly being renewed and refurbished to ensure they will continue to run as good as the day they were new.

Izzo also commented on the recent electric grid failure in Texas. He said the Northeast had a similar event with a polar vortex in 2014, however, unlike Texas, utilities do extensive winterization of their plants and the grid itself is well interconnected so power can be sent where it is needed.

Finally, Izzo noted that Public Service has paid their dividend to shareholders continuously for 114 years.

Energy Transitions

In his No-Huddle Offense segment, Cramer said the age of oil is finally coming to an end, only this time, we won't need a bridge fuel like natural gas to get us there.

Cramer recalled his conversations a decade ago with the late Aubrey McClendon of Chesapeake Energy  (CHK) - Get Report, who was a champion of natural gas as a bridge to an electrified future. Flash forward to today, and ExxonMobil  (XOM) - Get Report is adding climate change activists to its board of directors to help speed up its transition away from oil.

The rejection of fossil fuels is impossible to deny, Cramer continued. Automakers are finally on board, with General Motors  (GM) - Get Report, Ford  (F) - Get Report and countless others all jumping on the bandwagon in a big way. Given how much money is flowing into this space, we will be surprised how fast this transition is going to take place.

Lightning Round

Here's what Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Tuesday evening:

Cognyte Software  (CGNT) : "This is cybersecurity. My favorite is Palo Alto Networks  (PANW) - Get Report."

BorgWarner  (BWA) - Get Report: "Bingo. Autos are red hot. I'll throw in Magna International  (MGA) - Get Report as well."

Oracle  (ORCL) - Get Report: "Oracle is inexpensive with a good balance sheet."

Zillow Group  (ZG) - Get Report: "Zillow has been on fire lately. This was one of the best conference calls. It's a buy."

Pfizer  (PFE) - Get Report: "I like Pfizer. It yields 4.5% and it's OK. "

Incyte  (INCY) - Get Report: "This one hasn't worked out. There are issues and this whole group is under pressure."

Hydrofarm HYFM: "I believe Canopy Growth is the cannabis stock you want to be in."

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At the time of publication, Cramer's Action Alerts PLUS had no position in the stocks mentioned.