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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for Monday's trading.
Mattress Firm Holding (MFRM) : Sometimes stocks are unfairly tarnished when the market drops. Mattress Firm is one such stock, Cramer says. It missed on earnings in September but then acquired Sleepy's for $780 million. The deal will allow Mattress Firm to expand from over 2,400 locations to over 3,500 locations. Recently the company topped Wall Street's expectations for earnings and revenue, and reported better-than-expected same-store sales results of 3.8%.
He likes the stock but warned it is volatile and he expects it to get pushed lower following the Federal Reserve's rate decision.
Yum! Brands (YUM) - Get Free Report : Cramer is ready to sink his teeth into Yum!, especially after the company said it is planning to split into Yum! Brands and Yum! China -- with the former maintaining control over its global operations, ex-China. The split should take place by the end of 2016.
Investors who want a piece of the action can consider buying the stock in the high $60s, Cramer said. There's plenty of time before the split takes place to see if the Chinese business starts to improve. If it does not, he is inclined to stick with the Yum! Brands portion of the spinoff.
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Dow Chemical (DOW) - Get Free Report and DuPont (DD) - Get Free Report: Cramer loves this merger. The companies plan to merge into one entity -- expected to close in the second half of 2016 -- before splitting up into three separate businesses. The move is expected to create $30 billion in shareholder value, Cramer said.
You're going to kick yourself for not taking advantage of Friday's drop, Cramer said, adding the two companies picked a bad day to announce a $130 billion mega merger.
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At the time of publication, Cramer's Action Alerts PLUS had a position in DOW.