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NEW YORK ( TheStreet) -- "Earnings, takeovers and IPOs, this market's giving us multiple ways to win," Jim Cramer told his "Mad Money" TV show viewers Thursday.

He told investors to forget about the averages and keep their eyes on the many opportunities that are out there.

On the earnings front, Cramer discussed how shares of VF Corp ( VFC) dropped 10 points after the company's CEO offered what were perceived to be negative comments at an apparel conference a few weeks ago. Yet today, thanks to robust sales and declining cotton costs, shares of VF Corp are up 25 points from those lows, he explained.

Cramer said there's also money to be made with railroad CSX ( CSX). He said the company reported yesterday to lackluster results, but after Union Pacific ( UNP) jumped five points on their earnings today, CSX is now cheap.

Then there's Phillip Morris International ( PM). He said the company has been saying that growth overseas is on fire and today the company delivered a wonderful quarter.

Turning to acquisitions, Cramer said that Express Scripts ( ESRX), a stock which he owns for his charitable trust, Action Alerts PLUS , announced today that it's acquiring MedcoHealth Solutions ( MHS) and shares tanked, only to rebound within 30 minutes as analysts realized the power of this accretive deal.

On the IPO front, Cramer said that both Zillow ( Z) and Suncoke Energy ( SXC) were winners and there's likely to be more coming down the pike.

So while the hedge funds worry about trading the S&P 500 futures on every bit of global news, Cramer said home gamers should keep their eyes on the real prizes -- companies like these that are delivering impressive results.

Riding Cloud Computing

In the "Executive Decision" segment, Cramer spoke with Jim Whitehurst, president and CEO of Red Hat ( RHT), a leading purveyor of the Linux operating system that drives some 80% of all cloud computing applications. Red Hat derives 80% of its revenues from subscriptions for its services and shares of the company are up 6% since Cramer first recommended it in September, 2010.

When it comes to Washington, Whitehurst said Red Hat has a whole sales team helping to move both the federal government as well as civilian and military organizations to cloud computing. He said in each case, customers save money with Red Hat, and the company's only resistance is that people don't know what Red Hat can do for them or have legacy applications that they feel are too hard to upgrade.

Whitehurst said he's pleased with Red Hat's performance. He said the company has a disruptive business model and is taking market share from larger competitors. Red Hat generates huge cash flows and remains flexible and disciplined with its acquisition strategy and its plans for growth, he said.

When asked for a concrete example of how Red Hat saves customers money, Whitehurst cited DreamWorks Animation ( DWA), which uses tens of thousands of servers 24 hours a day to render the one million computing hours needed to produce a full-length animated film. Whitehurst said Red Hat is helping DreamWorks run more efficiently, which translates into using less power and that translates into money saved.

Cramer said cloud computing is one of only a few areas in tech that are working and he remains bullish on the stock.

Struggles in China

In a second exclusive "Executive Decision" segment, Cramer once again spoke with Dan DiMicco, president and CEO of Nucor ( NUE), which has been struggling to fight against unfair trade practices in China.

DiMicco said if the playing field for steel were truly equal and fair, America's GDP would consist of 20% steel, steel volumes would be greatly higher and American steel would compete and be profitable around the globe. Sadly, that is not the case today, he said, because Chinese tariffs on imports are 10 times what U.S. import tariffs are.

DiMicco did strike a positive note however, saying that Nucor is the most diversified steel producer in America. He said and even with construction stalled out, the company's construction segment is still profitable, as are its plate steel and bar steel businesses.

DiMicco also laid out what he called his three-point plan to restore America. He said America first needs to be energy independent and use its natural gas, along with green energy, to stop sending its money overseas. Second, America needs to get its trade deficit under control, and it needs to be competitive around the world. And third, America needs to invest the $2.2 trillion that's needed to rebuild its infrastructure.

Only then, he said, will America get itself back on the right track. Cramer continued his support for Nucor.

Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included ConAgra Foods ( CAG), Campbell's Soup ( CPD), Excelon ( EXC), Transocean ( RIG) and Wal-Mart ( WMT).

Cramer said ConAgra and Campbell's are two food stocks and recommended dumping ConAgra for a health care stock.

The second caller's top holdings included DuPont ( DD), New Zealand Telecom ( NZT), ConEd ( ED), American Water ( AWK) and Walgreens ( WAG).

Cramer said that American Water is a water utility and ConEd is electric. He said the portfolio was diversified.

Lightning Round

Cramer was bullish on ConocoPhillips ( COP), Dow Chemical ( DOW), LyondellBasell Industries ( LYB), Anheuser-Busch InBev ( BUD), Home Depot ( HD), Chesapeake Energy ( CHK), Ford Motor ( F), Melco PBL Entertainment ( MPEL) and Wynn Resorts ( WYNN).

Closing Comments

In his "No Huddle Offense" segment, Cramer said things might be getting better for the banks, at least some of them.

Cramer said US Bancorp ( USB), an Action Alerts PLUS name, saw a large percentage move after it's earnings, while PNC Bank ( PNC), another Action Alerts PLUS stock, fell flat on its results. Cramer said the markets are wrong on PNC and he remains bullish on both these banks.

Turning to the regionals, Cramer said that sentiment for all of them is too negative, and stocks like First Horizon ( FHN), First Niagara ( FNFG) and Huntington Bancshares ( HBAN) are all too cheap.

The big boys are a different story, said Cramer. He said that Wells Fargo ( WFC) is on the move, even though prospects there are weaker than that of US Bancorp. Bank of America ( BAC), a third Action Alerts PLUS holding, needs a change at the top, said Cramer, and he wouldn't buy more until it makes one.

JPMorgan Chase ( JPM) is a riddle, while Morgan Stanley ( MS) is a buy up to $26 to $27 a share, he said.

--Written by Scott Rutt in Washington, D.C.

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At the time of publication, Cramer was long Express Scripts, US Bancorp, PNC Bank, Bank of America.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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