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Editor's Note: Because of CNBC's Olympics coverage, Cramer's "Mad Money" show was rescheduled to noon, EST.
NEW YORK (
) -- In a market where good news on the U.S. economic front is being overshadowed by global economic worries, Jim Cramer told the viewers of his "Mad Money" TV show that there are still reasons to like stocks.
In the start of two weeks of special mid-day episodes of "Mad Money" during the Olympics, Cramer spoke with
's Bob Pisani for a real-time take on what's really moving the markets.
Pisani asked candidly, "where did the correction go?" After last week's turbulence, Pisani said the markets are calming down and stabilizing quite a bit. He said the rise in commodity prices, from oil to gold to copper, seem to be what most traders are focused on since they're often seen as the barometer for global demand.
Cramer also cited phenomenal growth from restauranteur
Simon Property Group
takeover of General Growth Properties as two other bright spots in the market, as is
Mitsui & Company
for drilling rights in the Marcellus shale fields.
Pisani and Cramer both agreed that overall, the markets are extremely frustrating, with stocks seemingly ignoring logic and fundamentals, trading instead on the whims of global news. Perhaps that's why do many professionals are sitting on the sidelines, they theorized.
In the "Executive Decision" segment, Cramer spoke with Duncan Neiderauer, director and CEO of
, which just beat earnings estimates and raised guidance for the third consecutive quarter.
Neiderauer said the NYSE is finally starting to get some momentum, and after a long journey, the company has revenues up and expenses down. He noted that just a few years ago, 80% of the company's revenues came from listing fees, but today, 80% of their revenues come from derivatives, futures and options. He said that shareholders have been very patient, but now they're finally in a position to be rewarded.
Neiderauer said that the metric to watch for the NYSE is no longer market share, which had been the benchmark for the exchange for many years, but rather derivatives volumes and the futures markets.
When asked whether the tone in Washington is helping or hurting the recovery on Wall Street, Neiderauer characterized it as a mixed bag. He said he understands the need to create jobs and reform the markets, but he cannot support additional transaction taxes and some other proposals being floated around in Washington.
Well-Positioned for Growth
In a second interview, Cramer spoke with Greg Wasson, president and CEO of
, the nation's largest drugstore chain, which is on the front lines of health care in America.
Wasson painted a rosy picture for Walgreen, saying the the company is very well positioned, with 50% of the country's population now within two miles of the company's 7100 neighborhood drug stores. He said Walgreen's has administered a staggering 7.5 million seasonal and H1N1 flu shots this year as part of their ongoing efforts to serve their communities.
Wasson was also upbeat about Walgreen's store upgrades. He said that 640 of the company's stores have the cleaners, more upscale look that makes things easier to find and focuses on solutions for its customers. Wasson said in its core categories, such as vitamins, health care and skin care, they're seeing encouraging results.
Cramer called Walgreen's a bargain, trading at just 12 to 13 times its earnings. "There are a lot of good things coming at Walgreen's," he said.
Big Natural Gas Deal
In a third interview, Cramer spoke with Jim Hackett, chairman, president and CEO of
, about the company's recently announced deal with
Mitsui & Company
Hackett said the Mitsui deal validates Anadarko's oil shale strategy, which values the company's Marcellus properties at over $4.5 billion. He said Anadarko and Mitsui have worked together in other parts of the world and it's happy to have them as a partner domestically as well.
Hackett and Cramer agreed that all of the recent foreign interest in America's huge natural gas reserves should be a wake up call for Washington, where both the Obama administration and Congress, need to take action to help natural gas become more prevalent before the U.S. becomes an exporter of its biggest natural resource.
Hackett said things seem to be moving in the right direction in Washington, but action needs to be taken. He said natural gas is a great answer for America's national security and job creation problems.
Cramer called Anadarko a huge performer, and he also gave the nod to
as another great natural gas company to own.
Following the real-time pulse of the market, Cramer said that
remains his No. 1 speculative stock for the year.
He also had positive comments for
Sirius XM Radio
, where he said the balance sheet is improving, and for
, where the semiconductors continue to rally.
Cramer had cautious words for
, as that company continues to butt heads with
, a stock, which he owns for his charitable trust,
Action Alerts PLUS, over the the future of web video standards. Cramer said he continues to like Apple, as the company is once again breaking out to the upside.
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long Apple.
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."
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