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

What the government gives, it can also take away, Cramer told viewers, as he issued an apology for his recommendation of Whirlpool (WHR) back in January. Shares have fallen $31, or 7.5% since that call.

Cramer said his thesis was sound, because President Trump had just slapped a tariff on imported washing machines, a move that would certainly benefit the domestic Whirlpool. But then Trump also added tariffs to steel, the biggest input cost for Whirlpool. Cramer initially felt the company could overcome these rising commodity costs. It didn't.

When Whirlpool reported earlier this week, it posted a 19-cents-a-share earnings miss with flat margins and falling sales in just about every part of the globe. While shares are very cheap at 10 times earnings, Cramer said he no longer has any confidence the company can deliver and estimates will have to be cut in the near future.

Cramer was bullish on Whirlpool's announced buyback of $1 billion worth of its own shares, but even that might not be enough to overcome a pattern of poor execution.

Illinois Tools Works (ITW) shares fell after the company's earnings report, but Cramer and the AAP team see it as an opportunity to buy more shares. 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 just because rates on the 10-year are back below 3% doesn't mean that's what's driving the rally. 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 ITW.

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