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NEW YORK ( TheStreet) -- If China and Europe can take our markets lower, why can't they take them higher as well? That's what Jim Cramer asked "Mad Money" viewers Monday. Cramer said that after years of dragging U.S. stocks lower, the evidence is mounting that a turn is at hand overseas, and that should be great news for U.S. stocks. The media may be focused on Syria and the Federal Reserve, but Cramer said today's market rally was all about an improving global economy. He said many investors just don't realize many Chinese exports are sold in Europe. With Europe making a slow but steady turn for the better, China will be buoyed as well. Cramer said he was dead wrong in 2011 when he went bullish on Ford ( F), a stock he owns for his charitable trust,
Executive Decision: Clay SiegallIn the "Executive Decision" segment, Cramer sat down with Dr. Clay Siegall, chairman, president and CEO of Seattle Genetics ( SGEN), one of the many biotech firms leading the charge against cancer. Shares of Seattle Genetics have risen over 88% since Cramer last spoke with Siegall in December. Siegall said Seattle Genetics currently has over 20 clinical trials in process, both developing new drugs and expanding the uses and indications of their current ones. He said his company's treatments are not providing incremental improvements to the way cancer is being treated, they're saving lives and providing real benefits to a lot of patients.
Siegall added that for T-cell lymphoma, the current four-drug cocktail offers patients a 45% remission rate, but by replacing just one of those drugs with one of Seattle Genetics', the remission rate has jumped to 88%. Additionally, Siegall noted that by removing one of the more toxic drugs from the mix, patients are gaining additional benefits from fewer side effects. Siegall also spoke about the importance of his company's many partnerships. He said Seattle Genetics currently has 12 such agreements, where the company shares technology with other companies in return for revenue, milestones and royalties down the road. Cramer called Seattle Genetics one of the year's biggest winners and shares are not done heading higher.
Executive Decision: Manny ChiricoIn his second "Executive Decision" segment, Cramer sat down with Manny Chirico, chairman and CEO of PVH Corp ( PVH), the apparel maker that offered tepid guidance for the rest of 2013, yet has seen its shares rise 19% since Cramer last checked in with the company on June 12. Chirico explained that despite a strong performance in the quarter, he's seeing volatility from the global consumer and is no longer as bullish as he once was. He said PVH continues to try and understand the consumer better, but so far this quarter the company expected sales to be more robust. Chirico clarified by indicating that PVH still expects to see a strong fourth quarter for the holiday season, but the back-to-school season thus far included a weak July, a strong August and a soft September thus far, so it remains a challenging environment. Another challenge for the company: Europe, specifically southern Europe, including Italy and Spain, two big markets for PVH. Chirico said that while things in the northern countries have been improving, Italy and Spain remain difficult and are not recovering as quickly. Other challenges for PVH included the Calvin Klein jeans business, where Chirico said the company will be making big investments to regain lost market share. The turnaround in this segment of the business may take 12 to 24 months to complete, Chirico indicated, but he remains confident the distribution and other elements can be cleaned up for big gains later on.
Given the strength in other areas of the company, such as its recent acquisition of the Speedo and Warner brands, Cramer said that PVH remains one of his favorite stocks in the group, even as it hits a rough patch with the consumer.