Investors have entered forgive-and-forget mode, Jim Cramer told his Mad Money viewers Monday. The market is learning to accentuate the positives, forget about the negatives and embrace stocks that were hated just last week.
That's certainly been the case with shares of Walt Disney Co. (DIS) - Get Walt Disney Company Report , a stock that was hated last quarter on fears of cord-cutting losses at ESPN. This quarter however, shares are at 52-week highs and the company reports earnings Tuesday. Then there's Facebook (FB) - Get Meta Platforms Inc. Class A Report , the Action Alerts PLUS holding that plummeted last week, but on Monday rallied 4.4% as investors posited that the worst may already be over at the company.
Those same bearish investors panned T-Mobile (TMUS) - Get T-Mobile US, Inc. Report after the company planned to merge with rival Sprint (S) - Get SentinelOne, Inc. Class A Report . Today though, shares were surging on the promise of a vigorous cellular competitor.
Investors were also anxious to snap up shares of Henry Schein (HSIC) - Get Henry Schein, Inc. Report and even Chipotle Mexican Grill (CMG) - Get Chipotle Mexican Grill, Inc. Report , which fell 7% last week, but rallied 2.5% today.
But not all stocks can be -- or should be -- forgiven, Cramer cautioned. Shares of Newell Brands (NWL) - Get Newell Brands Inc Report plunged 14.3% today on worries about tariffs and sinking sales from the collapse of Toys R Us, worries that management seemingly didn't have answers for.
Cramer and the AAP team are getting ready for their monthly members-only call, set for 11:30 a.m. Eastern on Thursday, Aug. 9. 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.
PepsiCo's Nooyi Retiring
During her 12-year tenure, the outspoken Nooyi saw the expansion of Pepsico from 17 to 22 different brands as well as the transition to healthier, more sustainable snacks. Nooyi was instrumental in tripling Pepsico's dividend and she was also an advocate for women and moms in the workplace.
Cramer said the programs Nooyi put in placed helped shape the company into what it is today, and he expects no less from the company's incoming CEO -- Ramon Laguarta, president of the company since 2017 -- who has studied under Nooyi for years.
Over on Real Money, Cramer says consumer staples stocks are not done rallying. Get more of his insights with a free trial subscription to Real Money.
Expedia's on the Move
Are shares of travel giant Expedia (EXPE) - Get Expedia Group, Inc. Report finally getting their groove back? Shares fell last year from $160 to below $100 in February, but are now up 21% over the past three months.
Cramer explained that last year, Expedia was hit with the one-two punch of falling revenues from hurricane season and increased competition, as well as a 22% increase in its sales and marketing expenses. While the company justified its spending as necessary for growth, investors shunned the stock as Expedia missed on the top and bottom lines for two quarters in a row.
But in April, Expedia reported numbers that were better than expected and were the beginning of their turnaround. The company also initiated a 15 million share repurchase program that represented 10% of the outstanding shares. By this quarter, growth had returned to 18% and Cramer said the company still has a lot of opportunities ahead.
With shares trading at just 12 times earnings with a 16% long-term growth rate, Cramer said he'd be a buyer right here and would buy even more on weakness.
Executive Decision: MarketAxess Holdings
For his "Executive Decision" segment, Cramer sat down with Richard McVey, founder, chairman and CEO of MarketAxess Holdings (MKTX) - Get MarketAxess Holdings Inc. Report , the bond trading platform with shares that are up 250% over the past five years. In recent months however, shares of MarketAxess are down 20% from their March highs.
McVey explained the bond markets have been pretty calm as of late, and less volatility translates into fewer people trading. There are more clients using their platform however, and his company's international and emerging markets business remains strong. Electronic trading also continues to take marketshare around the globe, he added.
So what will help spur more trading volume for a business that's 85% commission driven? McVey said the Federal Reserve's end to quantitative easing later this well help, as will the continued increase in federal spending and deficits.
Cramer said that MarketAxess was the best in the business, and as soon as volatility returns in the bond market, this company is poised for success.
Executive Decision: PerkinElmer
In his second "Executive Decision" segment, Cramer sat down with Robert Friel, chairman, president and CEO of PerkinElmer (PKI) - Get PerkinElmer, Inc. Report , makers of diagnostic and testing equipment. Shares of PerkinElmer are up 20% in 2018.
Friel said his company is seeing broad-based growth thanks to three driving factors. First, they've improved their portfolio to focus on high-growth areas. Second, they've increased research and development spending, which is now yielding new, innovative products. And third, PerkinElmer is executing better overall as a company.
Friel continued by explained that about 25% of sales stem from environmental testing, 40% from diagnostic testing at a doctor's office, and another 35% from pharmaceutical testing products. As countries around the globe, including China, spend more on healthcare, they spend more with PerkinElmer.
In the Lightning Round, Cramer was bullish on Nucor (NUE) - Get Nucor Corporation Report , The Trade Desk (TTD) - Get Trade Desk, Inc. Class A Report , EPR Properties (EPR) - Get EPR Properties Report and Enbridge Energy Partners (EEP) .
Cramer was bearish on LendingTree (TREE) - Get LendingTree, Inc. Report , Zillow (Z) - Get Zillow Group, Inc. Class C Report , Philip Morris International (PM) - Get Philip Morris International Inc. Report , Opko Health (OPK) - Get OPKO Health, Inc. Report , United States Steel (X) - Get United States Steel Corporation Report and Nokia (NOK) - Get Nokia Oyj Report .
Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.
At the time of publication, Cramer's Action Alerts PLUS had a position in FB, PEP, NUE.