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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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Microsoft(MSFT) - Get Report and LinkedIn (LNKD) : Does the tech sector have its mojo back? Jim Cramer says yes and the reason is Microsoft's $26.2 billion buy of LinkedIn. 

While some analysts were against the takeover, saying the money would have been better spent on dividends, buybacks or on a different acquisition target, Cramer disagreed. LinkedIn's growth rate has been slowing but its revenue growth is still much, much faster than anything Microsoft is putting up right now. "This merger makes me want to buy Microsoft shares, not sell them," Cramer said.

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Tegna(TGNA) - Get Report : With the election down to Hillary Clinton vs. Donald Trump, investors should look for ways to profit from the coming ad-spending cycle, Cramer told viewers. Specifically, investors should be on the look out for companies that sell advertising in key swing states or in areas where there have been contentious Senate races.

Here's Cramer's candidate: Tegna, the spinoff from Gannett(GCI) - Get Report .

Tegna is down more than 30% since the spinoff, as its digital assets Cars.com and CareerBuilder, aren't performing as well as expected. But with a valuation of just 10 times this year's earnings and shares near 52-week lows, investors appears to have priced in all the negativity. The stock appears "de-risked," Cramer reasoned, adding, "that's way too cheap."

Cramer can't endorse it as an investment but it is good for speculation.

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Scripps(SSP) - Get Report and Gray Television(GTN) - Get Report : Cramer says a number of broadcasters could profit from the expected deluge of political advertising money, but he favors Scripps as a good trade going into the election while Gray Television is a worthy investment into the election and possibly beyond.

Scripps has 33 stations in 17 states, along with 34 radio states in eight markets. 87% of Scripps' revenue comes from TV, so it could be "poised to make a fortune" from the coming blitz of ad spending, Cramer said. On the flip side, Scripps' earnings will fall significantly after this election-boosted year, and execution has been inconsistent at best.

Meanwhile, Gray Television has 64 network affiliates in 27 states. The stock is down 28% over the past year, but trades at just 6 times this year's earnings. The company is the most profitable of the four based on operating margins. "I think it's a winner," Cramer said.

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