Kythera Biopharmaceuticals ( KYTH) and Intercept Pharmaceuticals ( ICPT) are two biotechs with big market opportunities and, in the case of Intercept, also have orphan drug protection.

Shutterstock ( SSTK) is one of only a few players in its space, said Cramer, while Fleetmatics ( FLTX) is another cloud play like Workday.

Compare those successful IPOs to those of two weeks ago, however, and the stories change. Berry Plastics ( BERY) is a commodity plastic container maker with next to no growth. Lifelock ( LOCK) provides identity protection but is seeing increased competition and is not yet profitable. Javelin Mortgage ( JMI) aims to be a REIT, but has no track record to offer investors, while Regulus Therapeutics ( RGLS) is a biotech with no funding.

Cramer said its easy to see why this second group of IPOs failed to impress Wall Street.

The Better Half

Now that Kraft Foods ( KRFT) has split itself into two companies, Cramer said it's time to decide which half is worth owning.

He said that investors have to choose between the new Kraft Foods, a slow-growing domestic grocery business with a 4.1% yield or Mondelez ( MDLZ), a fast-growing global snack foods company with a modest 1.9% yield.

Cramer said for him the choice is easy -- he wants to own Mondelez. He said the company's dividend may be smaller, but Kraft's valuation is stretched at 17 times earnings for a 2% to 3% organic growth rate. Meanwhile, Mondelez trades at 16.5 times earnings but is growing at 13.5% a year.

Beyond valuation, Cramer said that Mondelez has 6.6% share of the global snack food market and derives 44% of its sales from the red-hot emerging markets. Mondelez owns 15% of the global chocolate market and a full 7% of the candy aisle. The company is also benefiting from declining commodity costs and a positive foreign exchange rate.

Cramer said investors' portfolios can only afford to have one food stock and that stock should be Mondelez.

Lightning Round

In the Lightning Round, Cramer was bullish on Kinder Morgan Energy Partners ( KMP), Apple ( AAPL), AT&T ( T), Schlumberger ( SLB) and Annaly Capital ( NLY).

Cramer was bearish on Liquidity Services ( LQDT), Eagle Rock Energy Partners ( EROC), Skyworks Solutions ( SWKS) and Helmerich & Payne ( HP).

Mad Mail

In the "Mad Mail" viewer feedback segment, Cramer told a viewer that PSS World Medical ( PSSI) is a battleground stock and he would stay away for now.

When asked to compare Allot Communications ( ALLT) with Procera Metworks ( PKT), Cramer said that he prefers Allot with its cheaper stock price, 32 times earnings versus 44 times for Procera.

When asked about Tractor Supply ( TSCO), Cramer said that he still likes this rural retailer.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer sized up the wireless landscape now that Sprint Nextel ( S) is partnering with Softbank. He said the deal now caps how much Sprint shareholders can make, so he'd be a seller and come back to it after the deal closes.

As for the winners in the deal, those would be the tower companies like American Tower ( AMT), but those have already run big. So it's time to sell those as well, said Cramer.

The losers in the deal are AT&T and Verizon ( VZ), two stocks that Cramer said he'd only buy on weakness.

Lastly, the wild card remains Clearwire ( CLWR), a partner with Sprint but one the company is under no obligation to take along for the ride. Cramer said to sell Clearwire along with Sprint.

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

To email Scott about this article, click here: Scott Rutt

Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL, HD, MDLZ and SLB.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

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