Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
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.
CELG data by YCharts
Celgene(CELG) - Get Report : Sometimes, great stories get even better, Cramer told viewers. That was certainly the case with Cramer fav Celgene buying another long-time Cramer fav, Receptos (RCPT) for $7.2 billion, a 540% premium from where Receptos traded just a year ago.
Typically, the stock of an acquiring company declines on a takeover, but not in this case. The reason? Cramer said Celgene's stock had been lagging as of late, as investors feared the company was too levered to its blockbuster drug Revlimid. But now with Receptos, Celgene has taken its biggest step so far to diversify its product portfolio and put its growth worries to rest.
The combined company could earn as much as $13 a share in earnings by 2020, and if true, that means shares of Celgene are trading at a scant 10 times those 2020 targets. That makes the Receptos deal a steal for shareholders and makes Celgene once again a company fund managers are willing to pay up for given its clear growth path and long-term visibility.
Facebook(FB) - Get Report , Amazon.com(AMZN) - Get Report , Netflix(NFLX) - Get Report and Google(GOOGL) - Get Report : Investors looking for turbo-charged growth stocks to buy during the next market pullback need to remember "FANG," Cramer's acronym for these four companies.
With the slowdown in all things PC-related and the strong dollar continuing to hamper international companies, Cramer said these growth tech names will continue to be en vogue for the foreseeable future. That's why he owns both Facebook and Google for his charitable trust, Action Alerts PLUS.
To read a full recap of "Mad Money" on CNBC, click here.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.
At the time of publication, Cramer's Action Alerts PLUS had positions in FB and GOOGL.