Turning to the company's stock buyback program, Jordan said First Horizon continues to drive returns for share holders. He said the bank has bought back $135 million worth of stock and sees a boost to its dividend in the future. As for loan growth, Jordan predicted only modest loan growth consistent with an economy growing at 2% to 3% in 2013. Cramer said he remains a believer in First Horizon and said that as housing picks up, loan growth will as well.
Shares of Krispy Kreme ( KKD) have been on fire of late, up 75% over the past two months. But have investors missed the move? Cramer said not a chance -- he thinks shares can hit at least $14 a share with ease. Cramer said Krispy Kreme is giving investors two ways to win. The first is the possibility of a takeover. He said similar takeovers have been going for a 30% premium, which would value Krispy Kreme at 29 times earnings, or a whopping $16.24 a share. But even without a takeover, Cramer said the coffee and donut chain is still a worthwhile investment. After a checkered past, the company has now delivered positive same-store sales for 16 consecutive quarters, most recently delivering a 6.8% boost in sales. The company also delivered a four-cent-a-share earnings beat with better-than-expected revenues and upside guidance to boot. Cramer reminded viewers that Wall Street loves growth and Krispy Kreme is continuing to grow its 744-store count, both domestically and abroad. He said the stock remains cheap compared to Dunkin Brands ( DNKN), which trades at 23 times earnings with a 17% growth rate, and Starbucks ( SBUX), which trades at 21 times earnings with an 18% growth rate.
In the Lightning Round, Cramer was bullish on KKR Financial Holdings ( KFN), Synovus Financial ( SNV), International Rectifier ( IRF) and American International Group ( AIG). Cramer was bearish on Verizon ( VZ) and Aflac ( AFL).
A Business Transformed
In a second "Executive Decision" segment, Cramer sat down with Barry Davis, president and CEO of Crosstex Energy ( XTEX), a master limited partnership with 3,500 miles of pipeline and 10 natural gas processing plants.