Jim Cramer's 'Mad Money' Recap: Step Aside, Washington

Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.

NEW YORK ( TheStreet) -- We need to celebrate American business more, Jim Cramer told his "Mad Money" viewers Wednesday. Cramer said today we saw just what the market can do when Washington gets out of the way.

There was positive news all over the market, Cramer noted, including positive drug trial data for Regeneron ( REGN), which saw its shares rise 5.9%. We also received the best auto sales data in two years, he noted, something that will play well for Ford ( F), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, and General Motors ( GM).

The love continued for stocks like Bank of America ( BAC), as it's putting more of its bad loans behind it, and Pepsico ( PEP) and Abbott Labs ( ABT), both of which reported terrific quarters.

Pioneer Natural Resources ( PXD), a company Cramer featured just last week, saw its shares jump 6% on an analyst upgrade today, while Solar City ( SCTY) popped 12% on a positive outlook.

These are just a few of the many stocks worth celebrating, Cramer concluded, as they showcase what stocks are all about... when they're not about Washington, that is.

Executive Decision: Beth Mooney

In the "Executive Decision" segment, Cramer spoke with Beth Mooney, chairman, president and CEO of KeyCorp ( KEY), the Ohio-based regional bank that just reported a five-cents-a-share earnings beat on in-line revenue, helped in part by an increase in net interest margins. Shares of KeyCorp are up 30% since Cramer last spoke with Mooney at the end of January. KeyCorp is currently an Action Alerts PLUS holding.

Mooney painted a positive picture of KeyCorp and its business, saying that the bank was able to increase loan yields, reduce interest liabilities and manage its liquidity better, all of which helped its bottom line. "We're not seeing a slowdown," she continued, noting that KeyCorp has been able to take market share from its competitors, as evidenced by an 11% increase in commercial loan growth.

Mooney continued that geography is also helping the bank because it sits in the middle of some of our country's lucrative oil shale fields. She said that not only is the exploration and production activities, but also all of the construction, housing and services business that spills over from increased drilling activities.

KeyCorp was also able to manage itself better, Mooney said. By using what she called "good, old fashioned channel management," the bank has been closing underperforming locations while building new branches in better areas and investing in its digital and mobile operations.

Cramer said these are all reasons why he has been behind KeyCorp for a very long time.

U.S. vs. JPM

Has the government gone too far in its persecution of JPMorgan Chase ( JPM) over bad loans written by Bear Stearns and Washington Mutual, two entities the government practically begged the bank to acquire? According to billionaire investor Warren Buffett, the answer is yes, and Cramer said he agrees.

Cramer said the government's pursuit of JPMorgan, an Action Alerts PLUS holding, just makes no sense as the government needed JPM to swoop in at the last minute to save both firms. But it is now penalizing JPM mercilessly for not having done proper due diligence. JPM helped advert a larger financial crisis, said Cramer, and this is how the government is repaying the bank.

Buffett characterized the situation by saying that "if a cop follows you for 500 miles, you will get a ticket," a sentiment that was shared by Cramer. In the end, it's the JPMorgan shareholders who pay the price for endless lawsuits and record fines, yet there has not been one action taken against those at Stearns or Washington Mutual who actually wrote the bad loans in the first place.

Did JPMorgan make mistakes? Both Buffett and Cramer agreed it did, but CEO Jamie Dimon could never have anticipated the fallout by a government out for blood from one of the few good guys that actually tried to help.

Lightning Round

In the Lightning Round, Cramer was bullish on Genuine Parts ( GPC), Cisco Systems ( CSCO), Allegheny Technologies ( ATI) and Opko Health ( OPK).

Cramer was bearish on Berry Plastics ( BERY).

Executive Decision: David Demshur

In his second "Executive Decision" segment, Cramer checked in with David Demshur, president and CEO of Core Labs ( CLB), a stock that's up 35% since Cramer last spoke with Demshur in April. Core Labs just delivered a two-cents-a-share earnings beat on an 11% rise in revenue and was able to raise its full-year guidance.

Demshur Pioneer Natural Resources, a company whose CEO Cramer recently interviewed, is one of Core Labs' many clients that is benefiting from its technology to produce more oil and gas and recover more over the life of their wells.

Demshur also confirmed the Spraberry/Wolfcamp oil shale formations are now the world's second largest oil field, trailing only to that of Saudi Arabia. Using new horizontal drilling techniques and hydraulic fracturing, Demshur said these areas will be very exciting for decades to come.

When asked about the company's technology, Demshur explained that Core Labs helps analyze rocks to determine not only where the oil and gas are but how best to recover that oil. The company can also analyze each stage of fracturing to determine whether the process is working to its highest potential.

Cramer said that no other company merges oil, technology, engineering and great science like Core Labs.

Am I Diversified?

In the "Am I Diversified" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.

The first portfolio included: Walt Disney ( DIS), Boeing ( BA), Genworth Financial ( GNW), Bristol-Myers Squibb ( BMY) and Noble Energy ( NBL).

Cramer said that this was a terrific portfolio.

The second portfolio's top holdings included: Yingli Green Energy ( YGE), Sirius XM Radio ( SIRI), Huntington Bancshares ( HBAN), Dryships ( DRYS) and Renewable Energy Group ( REGI).

Cramer said this portfolio has too much speculation and he advised selling both Yingli and Renewable Energy and replacing them with a drug stock and an aerospace name.

The third portfolio had: Salesforce.com ( CRM), American Tower ( AMT), Facebook ( FB),Huntington Bancshares and Vale ( VALE) as its top five stocks.

Cramer said that Facebook and Salesforce were too similar, but he'd allow them both to co-exist since they are both hot stocks.

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

To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.

-- 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 a position in CSCO, F, FB, JPM, KEY, NBL and VALE.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com 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 TheStreet.com, 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 TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

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 TheStreet.com. 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 TheStreet.com, 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.

More from Jim Cramer

Kraft Heinz, VF Corp, Cimarex Energy: 'Mad Money' Lightning Round

Kraft Heinz, VF Corp, Cimarex Energy: 'Mad Money' Lightning Round

Industrials in Value Territory: Cramer's 'Mad Money' Recap (Thursday 6/21/18)

Industrials in Value Territory: Cramer's 'Mad Money' Recap (Thursday 6/21/18)

Jim Cramer: Williams Sonoma Is a Digitized Play

Jim Cramer: Williams Sonoma Is a Digitized Play

Video: Jim Cramer on Netflix, Disney, Intel, Micron and Goldman Sachs

Video: Jim Cramer on Netflix, Disney, Intel, Micron and Goldman Sachs

Jim Cramer Weighs In on Intel CEO Resignation

Jim Cramer Weighs In on Intel CEO Resignation