In a difficult market environment, stocks that have been deeply loved can suddenly become targets, Jim Cramer cautioned his Mad Money viewers on Wednesday -- a day when indexes rose and fell dramatically, and then ended near where they started.

Shares of Amazon (AMZN) - Get Report fell sharply after a report that President Trump is "obsessed" with the notion that the company doesn't pay its fair share of taxes. Amazon ended the day down 4.3% after many investors remembered that companies targeted by Trump ultimately do pretty well.

Cramer said the worries over Amazon, Facebook (FB) - Get Report and Twitter (TWTR) - Get Report have all been blown out of proportion, as are rumors that Nvidia (NVDA) - Get Report chips are only being used to mine Bitcoin. Cramer told viewers to ignore the minute-by-minute headlines and stay focused on the long-term picture.

What investors should be buying is Clorox (CLX) - Get Report , Cramer said, as shares of that company rose 3.1% Wednesday. Clorox, one of his longtime favorites, an old classic, continues to be a solid, steady earner with a growing business in dietary supplements like probiotics.

Cramer and the AAP team say that despite the treacherous look of the market, they want to put capital to work. Their targets? Honeywell (HON) - Get Report and Nucor (NUE) - Get Report . 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.

The Facebook Story 

The Facebook saga continued today, with Playboy announcing that it's taking a cue from Tesla (TSLA) - Get Report and countless others in removing their pages from the social media giant. Playboy boasted 25 million fans on the platform, and while that may not seem large, Cramer noted it could become a problem if the exodus continues.

To date, Facebook shares have plunged 21% since the privacy scandal erupted, and Cramer put that into context compared with other recent corporate scandals. Shares of United Continental (UAL) - Get Report fell 6.7% after a video showed air marshals dragging a passenger off a plane. Wells Fargo (WFC) - Get Report fell 14% after its cross-selling scandal become public.

Shares of Target (TGT) - Get Report suffered a 19% loss after the company's credit card breach, a move Cramer said was justified as shoppers could simply take their business elsewhere.

Finally, there were Equifax (EFX) - Get Report , which lost a third of its value, and Chipotle Mexican Grill (CMG) - Get Report , which was nearly cut in half.

Where should Facebook fall in this list of events? Cramer said it's certainly not as bad a making people sick or losing their Social Security numbers, which puts it on par with Target. He felt a loss of 25% could be possible before the stock finally finds its footing.

Over on Real Money, Cramer notes that Playboy, "the authority on all things moral, has had enough and is leaving" Facebook. What next? Get more of his insights with a free trial subscription to Real Money.

Executive Decision: PVH

For his "Executive Decision" segment, Cramer again welcomed Manny Chirico, chairman and CEO at apparel maker PVH Corp.  (PVH) - Get Report , to discuss his company's blowout earnings which included an 11-cents-a-share earnings beat with an 18.6% rise in revenues, and a boost to the company's full-year guidance.

Chirico said PVH is doing well with great products at value prices and a marketing message that's aligned with consumers. He said sales are strong in Europe and also in Asia. In the U.S., retailers like Macy's (M) - Get Report , continue to recover. PVH's close partnership with Amazon is also going strong.

Adding to PVH's earnings are favorable global exchange rates. After seeing a very strong dollar in 2015 and 2016, Chirico said currency is finally swinging to a tailwind and that is welcome news.

When asked about tariffs with China, Chirico said that in principle he's opposed to tariffs as a means to solve problems, but he also admitted that China doesn't play fair and targeted actions need to be taken. He'd like to see our two countries negotiate and come to terms, but he also felt that apparel is unlikely to be affected with new tariffs as they already pay import duties.

Executive Decision: UnitedHealth Group 

In his second "Executive Decision" segment, Cramer sat down with David Wichmann, CEO of UnitedHealth Group (UNH) - Get Report , the healthcare provider with a stock that's off 13% from its January highs.

Wichmann said there are 285,000 people at UnitedHealth that are focused on helping people lead healthier lives. They are passionate about changing healthcare for the better and engaging customers to take a more active role in living better.

One of UnitedHealth's biggest assets to solve the problem of gaps in our healthcare system is having the best data. The company's Optum system provides data on 124 million individuals and is behind most of UnitedHealth's big data initiatives.

UnitedHealth is also helping to lower drug prices, offering patients the ability to use drug rebates upfront to help lower their out-of-pocket costs.

Finally, Wichmann noted that UnitedHealth realizes that mindfulness, staying active and relieving stress is also a big part of living well and his company is in the early stages of investing in these areas.

Executive Decision: Norwegian Cruise Line Holdings

In his final "Executive Decision" segment, Cramer also sat down with Frank Del Rio, president and CEO of Norwegian Cruise Line Holdings (NCLH) - Get Report , a stock that's off $9 a share from its February highs.

Del Rio said that younger millennials now account for 25% of passengers at Norwegian and are the company's fastest growing segment. Cruises offer everything millennials are looking for, he explained, including variety, value and experiences that are second to none.

Del Rio was also bullish on China, where he said the economy is improving and the Chinese government is encouraging families to get out and take vacations together.

With the global economy booming, Del Rio said things are already looking strong for Norwegian in 2019. 

Lightning Round

In the Lightning Round, Cramer was bullish on Henry Schein (HSIC) - Get Report , Align Technology (ALGN) - Get Report , Zoetis (ZTS) - Get Report , Deere & Co.  (DE) - Get Report , Applied Materials (AMAT) - Get Report and Splunk (SPLK) - Get Report .

Cramer was bearish on Fitbit (FIT) - Get Report and Smart Global Holdings (SGH) - Get Report .

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At the time of publication, Cramer's Action Alerts PLUS had a position in HON, NUE, FB, AMZN, NVDA.