But in the longer term, the company can likely grow earnings by 30% without the overhang from its old Nextel network and possibly even 40% by integrating Clearwire. Sprint is only just now able to truly go after new customers, he said, which means the company is only just getting started.

Cramer said that some investors are worried about a funding gap at Sprint that will prevent it from building out that much-needed 4G network. But Cramer said he's not worried because its new alliance with SoftBank will give it access to all the capital it needs to once again become a major player in the U.S. wireless market. He said that he's a buyer of Sprint on any weakness.

Executive Decision: Patrick Doyle

In the "Executive Decision" segment, Cramer checked in with Patrick Doyle, CEO of Domino's Pizza ( DPZ), a stock that fell 6.5% after it reported an earnings beat of 1 cent a share on slightly higher-than-expected revenue. Shares of Domino's are up 12% since Cramer last spoke with Doyle on April 30.

Doyle started off by saying that Domino's earnings this quarter were driven by demand for the brand and not by any special products or offers. He said while margins were up, they didn't meet the expectations of some analysts.

Doyle continued that he is slightly less optimistic when looking at the pizza category overall because he sees more headwinds than tailwinds in the short term. He noted that growth outside the U.S. will remain larger than inside, partly because tight credit standards are preventing franchisees from opening as many stores as they'd like.

When it comes to innovation, however, Doyle said that at Domino's innovation comes from products and from technology, where the company is constantly coming up with new apps and features like cameras in the kitchen, which allow customers to see how their food is being made. Once customers turn to digital ordering, Doyle noted, their loyalty to Domino's increases.

Cramer said he remains a buyer of Domino's on any weakness.

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