(Story updated to add Cramer's comments on Cummins' excellent results.) NEW YORK ( TheStreet) -- Invest in stocks on a case-by-case basis continues to be Jim Cramer's short-term strategy. He told his "Mad Money" TV show viewers that they need to remain cautious, keep some cash on the sidelines but as always, stay the course. Cramer said that today's trading action proved that when governments are responsive to the needs of the markets, good things happen. He said that one by one, the fears that had the markets spooked on Monday are slowly being addresses. He said the Germans have stepped up, albeit in the final hour, to defuse worries over Greece. Then Brazil issued an interest rate cut to help keep the emerging economies from slowing. And finally, talks with Iran are accelerating, making the threat of air strikes less likely in the short term. Cramer said that all of this good news helped keep the averages in positive territory, but investing remains a company by company issue. Apple ( AAPL), a stock which he owns for his charitable trust,
Exporting Natural GasIn the "Executive Decision" segment, Cramer once again welcomed Charif Souki, chairman, president and CEO of Cheniere Energy ( LNG), an energy producer looking to export some of America's abundant natural gas supply. Shares of Cheniere have doubled since Cramer first noticed the company. Souki called the transformation in America's natural gas industry over the past three years "truly astonishing." He said that after looking to import natural gas just a few years ago, America now has increased production so far that demand can't keep up. Souki said even with increased demand from replacing coal-fired power plants, increased industrial uses and converting the U.S. truck fleet to natural gas, our country still will have plenty of gas for export. "We just don't know what to do with the gas," he concluded. When asked whether the U.S. government could block the export of this clean, domestic resource, Souki said that exporting natural gas will be a boon for the U.S. economy and it's too important not to happen. Souki said he expects 3,000 workers to be employed at their export terminal when completed, with an additional 40,000 to 50,000 workers indirectly benefiting from its operation. Finally, when asked about Cheniere's capital needs, Souki said that his company has the money it needs to complete phase one of its export facility and is already looking towards phase two. Cramer said he's still a believer in Cheniere, noting that Souki has delivered on all of his promises despite the skeptics.
Big ComebackIn the "Executive Decision" segment, Cramer spoke with Mel Karmazin, CEO of Sirius XM Radio ( SIRI), the satellite radio provider that was near death in 2008, but has since staged a miraculous recovery, adding 540,000 new subscribers in its most recent quarterly results. Karmazin said when it comes to his company, free cash flow is the only metric that matters. He explained that free cash creates wealth for investors and allows the company to buy back stock, pay down debt and make acquisitions in order to grow. When Karmazin first took the reigns at Sirius XM over eight years ago, free cash was negative $500 million. This year the company enjoyed $700 million of positive cash flow. When asked what Karmazin planned to do with all that free cash, he said that there is simply nothing he would like to acquire, so returning that cash to shareholders is at the top of his board of directors' list. Karmazin also noted that while he cannot stop an unsolicited bid from Sirius' largest shareholder, Liberty Media ( LMCA), which owns 40% of the company, he does represent all of the Sirius' shareholders and would fight for the best possible deal. Turning toward increased competition from Internet radio providers like Pandora ( P), Karmazin said that Sirius has always had competition, first from terrestrial radio and now from Internet radio. He said that ad-supported business models are questionable however, given how much advertising inventory the Internet has created. Karmazin noted that even with more competition than ever this year, Sirius still was able to add more new subscribers than ever before. Finally, when asked about growth drivers for the company, Karmazin said that the increase in new car sales has helped his company's top-line growth, but an even bigger driver is that of used car sales, as more and more used cars are satellite radio-equipped. He said that Sirius XM is the No. 1 radio company in the world when it comes to revenue and has the growth characteristics to warrant its valuation. After calling the company dead in years past, Cramer said that Karmazin has weathered the storm and Sirius XM now has brighter days ahead of it.