Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.

Not every battle is worth fighting, Cramer told viewers. That's especially true if you own shares of Newell Brands (NWL) , which is embroiled in a bitter proxy fight between activists Starboard Capital and Carl Icahn.

Viewers may remember that Newell acquired Jarden two years ago for $15 billion. At the time, Newell CEO Michael Polk made terrific predictions of how well the combined company would be able to function. Unfortunately, none of those predictions panned out.

Shares of Newell have lost over 50% of their value since the merger as the company has reported a series of disappointing quarters. Earnings estimate have been slashed three times as a result.

That caught the attention of activist investors Starboard Capital and also Carl Icahn. After Starboard proposed a board shakeup, Icahn reached a deal with management to spin off many of the Jarden assets to a group led by Jarden's former CEO, Martin Franklin.

Cramer said rather than take sides on which proposal makes more sense, investors need to be asking whether it's worth holding onto shares at all. There's little doubt that Newell's next earnings report will be a bad one and the company's 3.5% dividend may then be called into question. He'd rather sell than pick sides.

Cramer and the AAP team note that seven of the companies in their portfolio are reporting this week, including Abbott Laboratories (ABT) , Nucor (NUE) and Honeywell (HON) . 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.

Over on Real Money, Cramer says if you're sitting on a down-and-out stock with a real bad chart, you need to hold on at this point because an analyst or a quarter could come to your rescue. Get more of his insights with a free trial subscription to Real Money.

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To read a full recap of this episode of "Mad Money," click here.

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

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