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This market is defined by surprises, Jim Cramer announced to his Mad Money viewers Thursday. Whether it be earnings, news or takeover bids, surprises are what have come to define our stock market.

Case in point: Keurig Green Mountain (GMCR) , which saw its shares plummet from $159 to just $39 a share before today's surprise earnings turned things around and sent shares roaring up 18%.

Then there's UnitedHealth Group (UNH) - Get Report , the definition of consistency, that surprised with an announcement that growth has been tempered and Obamacare is turning into a house of pain for health providers.

Still other surprises included SunEdison (SUNE) , which fell down 12% on the day and 36% for the week, and J.M. Smucker (SJM) - Get Report , which rose by 6.9% on shockingly good earnings.

But perhaps the biggest surprises were the initial public offering of Square (SQ) - Get Report , which roared 45% after the deal posted at $9 a share instead of the expected $11 to $13, and Nike (NKE) - Get Report , which popped 3.5% on news of a two-for-one stock split, a stock buyback and a dividend boost.

Executive Decision: Mike McNamara

For his "Executive Decision" segment, Cramer sat down with Mike McNamara, CEO of Flex (FLEX) - Get Report , formerly known as Flextronics, the contract manufacturer that has evolved into an innovation factory, providing design, production and distribution services to companies looking to offer new technologies.

McNamara singled out Nike as one of Flex's many customers. He said Nike blends technology with style and Flex is helping the company with automation, supply chain management and manufacturing. Flex also counts Fitbit (FIT) - Get Report as a customer and helps that company manufacture its wearable fitness devices.

Flex has its hands in many areas, including automative technology to help detect drowsy drivers, to medical devices and equipment, to the connected home where Flex aims to integrate our many devices with centralized management.

Cramer said Flex is and remains one of the most exciting companies in technology.

Building a Home Improvement Portfolio

With sales going gangbusters at both Lowe's (LOW) - Get Report and Home Depot (HD) - Get Report , how can investors profit from the home improvement revolution? Cramer said don't think Whirlpool (WHR) - Get Report , as that company has too much exposure to Brazil. Instead, Cramer offered up four other names investors can sink their teeth into.

When investing in the home improvement space, Cramer said investors need secular growers and not cyclical ones that need the U.S. economy to flourish. That means names like Stanley Black & Decker (SWK) - Get Report , Fortune Brands Home & Security (FBHS) - Get Report , Masco (MAS) - Get Report and Masonite (DOOR) - Get Report .

These stocks may seem expensive, but given the current trends toward new household formation, they're only just getting started.

Executive Decision: Kevin Sayer

In his second "Executive Decision" segment, Cramer sat down with Kevin Sayer, president and CEO of DexCom (DXCM) - Get Report , makers of real-time blood glucose monitoring systems. Shares of DexCom are up 53% for the year.

Sayer touted his company's new G5 platform, that allows diabetic patients to get their glucose readings right on their smartphones without having to carry a second device. He said the sensors for the G5 last a week and typically cost patients less than $15.

DexCom has also partnered with Google Lifesciences, a division of Alphabet (GOOGL) - Get Report , a stock Cramer owns for his charitable trust, Action Alerts PLUS. Sayer noted the collaboration with Google has been a lot of fun so far.

Turning to future products, Sayer said that while his company has been laser focused on glucose monitoring, their technology could see additional sensors over time.

Lightning Round

In the Lightning Round, Cramer was bullish on Activision Blizzard (ATVI) - Get Report , Fiat Chrysler (FCAU) - Get Report , Exxon Mobil (XOM) - Get Report , Occidental Petroleum (OXY) - Get Report , HSBC Holdings (HSBC) - Get Report and American Electric Power (AEP) - Get Report .

Cramer was bearish on Valero Energy Partners (VLP) , Ferrari (RACE) - Get Report , Seattle Genetics (SGEN) - Get Report , BP (BP) - Get Report , NRG Energy (NRG) - Get Report and Alcatel Lucent (ALU) .

Am I Diversified?

In the "Am I Diversified?" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.

The first portfolio included Apple (AAPL) - Get Report , Walt Disney (DIS) - Get Report , Under Armour (UA) - Get Report , Facebook (FB) - Get Report and Lockheed Martin (LMT) - Get Report .

Cramer said that Apple and Facebook can coexist in the same portfolio and this portfolio was properly diversified.

The second portfolio's top holdings included Apple, Facebook, (AMZN) - Get Report , Netflix (NFLX) - Get Report and Alphabet.

Cramer said that "FANG" stocks all trade alike. Even though they are diversified, this caller needs to pick just one or two of the four.

The third portfolio had ADP (ADP) - Get Report , Procter & Gamble (PG) - Get Report , Cummins (CMI) - Get Report , Starbucks (SBUX) - Get Report and Apple as its top five stocks.

Cramer said he likes Paychex (PAYX) - Get Report more than ADP, but otherwise this portfolio was diversified.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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At the time of publication, Cramer's Action Alerts PLUS had a position in GOOGL and OXY.