In the biotech space, two deals are coming soon. Cramer said OncoMed Pharmaceuticals has five cancer drugs in early stage testing, while Agios Pharmaceuticals is working on early stage treatments for both cancer and metabolic disorders. Both IPOs are attractive, but Cramer said he'd buy and hold some OncoMed, while selling Agios after the IPO.

Then there's NRG Energy's ( NRG) upcoming spinoff of NRG Yield, its dividend vehicle that's expects to offer 6% after it comes public. Cramer said with high-yielding stocks still under fire he's not a buyer of this stock, but would use it as a gauge for how the market is viewing the dividend stocks going forward.

Shopping for Grocery Stocks

Some stocks are under-appreciated on Wall Street. That's certainly the case with Kroger ( KR), said Cramer, the nation's second-largest grocery store chain that somehow caught a downgrade after announcing it was acquiring Harris Teeter ( HTSI) last week.

Cramer said that for Kroger, which has 2,400 mainstream locations, the acquisition of upscale Harris Teeter makes perfect sense. That was evident by the fact that Kroger shares actually rose on the Teeter news, he said. But since there are no Harris Teeter or Kroger stores in New York, the analyst community missed that message.

With so much attention being paid to the organic section of the grocery business -- think Whole Foods ( WFM) -- Cramer said its easy to see how a stock like Kroger could get overlooked. But unlike years past, even mainstream grocers are making money now thanks in part to increased margins from expanded private label offerings.

Trading at just 12.2 times earnings with a 9% growth rate, Cramer said that Kroger is still not an expensive stock and he's a buyer now that the company has chosen to enhance its growth though this smart acquisition.

Lightning Round

In the Lightning Round, Cramer was bullish on Pfizer ( PFE), Bristol-Myers Squibb ( BMY), HomeStreet ( HMST), US Airways Group ( LCC), B&G Foods ( BGS) and ConAgra Foods ( CAG).

Cramer was bearish on Pinnacle Foods ( PF).

Executive Decision: Martin Richenhagen

In the "Executive Decision" segment, Cramer spoke with Martin Richenhagen, chairman, president and CEO of Agco ( AGCO), the agriculture equipment maker that's helping to feed our ever-growing global population.

Richenhagen said his company is helping farmers around the globe increase their production thanks to new technology that is reducing fuel consumption and the amount of fertilizers and pesticides needed to boost crop yields. He said business remains strong for agriculture around the globe, including in India where Agco is already the number-two player.

Agco is following the global trend of higher incomes. He said as emerging markets continue to expand, people want to eat better foods, including more meat, which then drives the need for increased crop production.

Cramer told viewers that anytime they can get a quality industrial name like Agco for under 10 times earnings, they should do so.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer said investors must still keep an eye on China, but they no longer need to keep both eyes on the troubled economy.

The latest 7.5% Chinese GDP number was right in line with expectations, said Cramer, and that's the first step to forming a bottom. More importantly, the U.S. markets have been able to rally without China, which makes any news from that country an upside surprise, rather than a downside surprise.

China, he said, may soon be seen as a non-event like Europe, but for the time being it has just become less important than earlier this year.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

-- 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
At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.

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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Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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