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NEW YORK (TheStreet) -- 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: It's been a tough year for this medical supply giant, with a stock down 2.4% so far in 2015. But the turn may finally be at hand because the company is now set to spin off its bioscience division.

As it's currently configured, Baxter is a difficult company to figure value. It derives 60% of its sales from medical products like pre-filled syringes, vaccines and infusion pumps, while 40% of its revenue stem from its bioscience products.

In 2014, Baxter's earnings fell below its guidance, prompting the company in 2015 to stop issuing guidance altogether. The questions were raised about the safety of its 3% dividend yield, sending shares to 18 months lows.

But then Baxter announced it will spin off its bioscience division as a company called Baxalta, news that has been sending shares higher ever since.

As two separate entities, Baxter will be a cleaner, simpler story, Cramer noted, something that money managers will be able to easily value and will gravitate to thanks to easy comparisons and a peaking of the U.S. dollar.

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Mondelez International (MDLZ) - Get Report: The time may finally be right for Mondelez, the international half of Kraft Foods (KRFT) that was spun off in 2012, to start heading higher, Cramer told viewers. Mondelez got off to a sluggish start, but is now turning itself around as currency pressures begin finally abating.

Mondelez is home of such beloved brands as Oreo, Triscuit, and Cadbury, among many others. The company is truly a global powerhouse, with 40% of sales from Europe, 20% from North America and 15% from Latin America, with the rest of the globe filling in the gaps. The company is number one in global market share for biscuits and chocolate and number two for coffee.

Shares of Mondelez are up 13% so far in 2015, making new highs, because the company is streamlining production, cutting costs and focusing its efforts on its power snack brands. The company plans to reduce overhead by $1.5 billion by 2018 while at the same time investing for growth with five new production lines that will begin producing its products nearly twice as fast.

Add to all of these positives the fact that the U.S. dollar may have finally peaked and activist investor Nelson Peltz taking an interest in Mondelez and Cramer said you've got a winning stock.

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Netflix (NFLX) - Get Report: Which makes more sense, Netflix shares up $25 a share on the news of its 7-for-1 stock split, or Netflix down $2 a share in the wake of Carl Icahn liquidating his position and taking a victory lap.

Cramer reminded viewers that stock splits don't create any new value, but they do increase liquidity. That means a volatile and emotional stock like Netflix will most surely begin to settle down and start trading like a normal stock instead of a plaything for hedge fund managers like Icahn.

To read a full recap of "Mad Money" on CNBC, click here.

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