"There's a kind of a misconception about what quarter was good or bad," said Jim Cramer on CNBC's "Stop Trading!" segment on Tuesday.

He said that the Coca-Cola ( KO) quarter was actually "terrific" but that the problem is that the stock's run up. "But that quarter was really, really good," he said. "I want to emphasize that there is tremendous growth in a business that I'd pretty much given up on, which is the soda business."

Cramer said that Monsanto ( MON) "revealed itself as a biotech name again." The company has a "new corn seed that people are just going nuts over," which might finally give "us a chance to buy a stock that people had pretty much given up on."

Schering-Plough ( SGP) CEO Fred Hassan came to the company "when the stock was around $15, $16 and swore that he would make money for you," Cramer said. "He tied up with Merck ( MRK), and a lot of people felt that maybe that was a mistake." But Cramer said that the stock is up 10 points -- "a pretty good price." "During a period when the drug stocks have been absolutely terrible," Cramer said, Hassan "deserves our plaudits."

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