Things have been so bad at McDermott that expectations have finally gotten too low for the stock, said Cramer. Shares seem almost impervious to bad news because all of that bad news is now baked in. The company also has a rock-solid balance sheet going for it which, coupled with new management, may be a recipe for success.

McDermott is now just a $7 stock that trades at 18.8 times earnings with a 17% long-term growth rate. Cramer said he expects the company to beat its 2014 estimates, which should allow shares to finally stem the decline.

Xooming the Globe

When it comes to transferring money around the globe, should investors stick with the big boys or upstart Xoom (XOOM), which just came public this Feburary but has fallen precipitously over the past few weeks, down 24% from its highs? That was the question posed to Cramer on an earlier show, and one he was prepared to answer tonight.

Cramer said Xoom has a unique business model in the money transfer world. Rather than relying on physical locations, the company mainly transfers money online via its Web site and an affiliation with Wal-Mart (WMT). This model doesn't allow the company to accept cash, as the big boys MoneyGram (MGI) and Western Union (WU) can, but that hasn't seemed to matter up until recently.

Cramer said the huge decline in Xoom was a direct result of the typhoon that ravaged the Philippines. Turns out Xoom gets 35% of its revenue from this single country and nearly 70% of its revenue from just three countries -- Philippines, India and Mexico. This lack of diversification will cost the company several quarters to regain its footing. That said, Cramer liked Xoom's prospects up until the disaster hit.

So what about Western Union and MoneyGram? Cramer said MoneyGram has been the winner in 2013, with shares up 60%, but that's not likely to continue into 2014 as new regulations will add cost pressures to the company's bottom line. Cramer said he's betting on Western Union into the new year because that stock trades at 11 times earnings with an 8.6% growth rate.

Lightning Round

In the Lightning Round, Cramer was bullish on Red Hat (RHT), DepoMed Inc (DEPO), CVR Energy (CVI), Chesapeake Energy (CHK), United Community Banks (UCBI), Randgold Resources (GOLD), Cummins (CMI) and DryShips (DRYS).

Cramer was bearish on iShares Silver Trust (SLV) and Westport Innovations (WPRT).

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