Stay Put

"Sometimes the best thing to do is nothing at all," Cramer told viewers, as he opined on what to do with Amazon.com ( AMZN) after the company's disappointing earnings. His conclusion? Don't do anything.

Cramer said he knew that Amazon was aggressively spending to win future growth, so he was expecting to see an increase in revenues and a big hit to earnings. But instead, Amazon posted the opposite scenario, great earnings on weakening revenues. Cramer said he was expecting accelerating revenues, but got a decline in revenues.

Cramer said the big question for Amazon is whether losing money on e-readers will turn into a win for the company in the out years or not. He said there was also concern that video games and sales from Europe are a bigger part of Amazon's business than anyone realized. He said these questions were not answered by management.

On the flip side however, Cramer said Amazon has proven to be a consistent winner on weakness, and selling shares after a sell-off has always been a terrible bet.

Cramer said he would not buy more shares of Amazon with the lingering questions remaining, nor would he sell them. Amazon, he concluded, is now a "wait-and-see" situation.

Broadening Iconic Brand

For today's installment of his "Show Off Stocks" series, Cramer highlighted motorcycle legend Harley Davidson ( HOG), which is seeing demand for its product grow at the fastest pace since 2005.

Cramer said Harley delivered a phenomenal 7-cent-a-share earnings beat on a 22-cent basis which sent shares just 2 points off its 52-week high. Harley saw an 11.9% rise in revenues and added that nearly 45% of all motorcycles on U.S. roads are now Harleys.

Cramer said that Harley is an iconic brand that's born to run. He said the company is diversifying its customer bases away from older white males and is now aggressively attracting younger riders, as well as women and minorities.

Additionally, Harley is completing a major restructuring this year that will shave $325 million a year off the company's cost structure. With new labor agreements in place and low inventories, Cramer added that Harley can customize and deliver a new motorcycle in as little as four weeks.

But there's even more to like at Harley. Cramer said the company's financial services division is now classifying 92% of its loans as low-risk, helping that division to add 15% to 20% to the company's bottom line. Harley is also expanding its international operations to further growth.

Trading at just 13.5 times earnings with a 14.5% long-term growth rate, Cramer said shares of Harley Davidson are far too cheap, especially when compared to its share price of just a few years ago when they trading 68% higher.

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