Making a larger run at the oil and gas service sector makes perfect sense for GE, said Cramer. Already the company is leading the way with natural gas locomotives, turbines and lot more. Lufkin will be a perfect fit, he said, but there are still other opportunities for GE to acquire.

Cramer suggested FMC Technology ( FTI), currently valued at $12 billion, could be one company that could complement GE's investments and cement its place in the industry. Chart Industries ( GTLS), along with Clean Harbors ( CLH) and Core Labs ( CLB) are other possibilities.

Cramer reminded viewers that he never recommends a stock on a takeover unless the fundamentals are also strong. In all of these cases, these stocks can make investors a lot of money as oil and gas in America rages on.

Pharma Focus on J&J

After spending the past two weeks highlighting companies in the biotech space, Cramer said he didn't want to give the impression that old-line Big Pharma doesn't have opportunities,too.

So he has kicked off a week-long series starting with Johnson & Johnson ( JNJ), a stock Cramer owns for his charitable trust, Action Alerts PLUS .

With its 3.3% yield, Cramer said J&J is a magnet for international money looking for safety. While the company received a downgrade today, Cramer thinks the report was shortsighted because the company is worth a lot more than the analysts realize.

While Wall Street likes companies that are easy to understand, J&J has become messy, with many different divisions that are begging to be broken up to unlock their true value, Cramer said. Wall Street likes things that are simple; hopefully, J&J can deliver on that front soon.

The Johnson & Johnson Achilles heel has been the company's consumer products division, which has been plagued by issues and recalls. But that division is beginning to clean itself up, said Cramer, while at the same time J&J's pharma division has past its "patent cliff" where many of its biggest drugs lost patent protection.

Cramer said the company still has a strong pipeline of new drugs, including three in Phase III testing. He recommended buying in after earnings, but ahead of J&J's scheduled pipeline review set for May 23.

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