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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.

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Baxter International(BAX) - Get Report : When Cramer proposed that medical supply company Baxter International split itself up in his book Get Rich Carefully, even he has no idea just how profitable the deal would be.

Cramer said he's always been fan of company spinoffs and breakups, as they often create instant value for shareholders. That's why the combination of Baxter's medical supply business didn't seem to mesh well with the company's pharmaceutical side.

Shortly after he proposed the breakup in in his book, Baxter announced it would indeed spin off its pharmaceutical arm as Baxalta, a company that was immediately acquired for a quick 24% gain.

But now that Baxalta is off the books, what about the remaining Baxter? The company still held a 19.5% stake in Baxalta and Baxter's stock is already up 16.5% for the year.

Cramer said with so much of healthcare coming under fire this election year, money managers are pouring money into the safe and scandal-free Baxter. The company is also still innovating, introducing 17 products last year and 21 this year. Add to that Baxter's cost-cutting efforts and expanding gross margins and Cramer said Baxter is still worth owning.

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Treehouse Foods(THS) - Get Report : The news is out, - Get Report is moving into the private label food market. But does that make Treehouse Foods, the private-label food maker that Amazon consulted with, a buy?

Cramer said there's no doubt the American consumer remains more frugal since the Great Recession. That's why so many retailers are moving towards more private-label offerings. But so far we don't know if Amazon plans on actually using Treehouse or simply consulted with them.

Treehouse is the major player in the private-label food space, Cramer said, with products in over 20 categories. The stock is also up 16% so far in 2016 after the company reported a 7-cents-a-share earnings beat and boosted its full-year guidance. The company has little competition given its scale and expertise.

That's why Cramer said he'd be a buyer of Treehouse, even trading at 22 times earnings. The company is a fast grower that consistently under-promises and over-delivers, he said, and even without Amazon the stock would be bargain. Add to that the possibility of Amazon partnering with Treehouse and the story becomes even more compelling.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.