Which are the ones falling behind? Cramer said it's clear that PetSmart (PETM) and Dick's Sporting Goods (DKS) have lost their way, as has Target (TGT), which recently booted its CEO as a result.

Cramer said investors need to do their homework before investing in retail. The exchange-traded funds may treat all retailers as replaceable commodities, but they're anything but.

Goodbye, CEO; Hello, Breakup

When a long-time CEO retires, there's always a chance for a change in strategy, Cramer told viewers. In the case of Danaher (DHR) that new strategy might include a breakup to unlock value.

Cramer has long sung the praises of corporate breakups. He said once a company reaches a certain size, it just cannot be effectiely managed or valued by the Wall Street analysts -- which is why splitting into manageable pieces is always met with higher share prices.

Danaher is a conglomerate now worth $54 billion, thanks to a 25-year history of smart acquisitions. After hundreds of these deals, shares of Danaher have risen 7,587% over those past 25 years.

But as the company grows, these deals "move the needle" less and less, Cramer said, which is why a split makes so much sense. It would allow the pieces to resume a strategy that has a long history of results.

Cramer said Danaher should split into four units: a water business, industrial technology, life sciences and testing and measurement. All of these parts total up to $90 a share, Cramer said, or 15% more than shares trade today. Give the parts the premium they deserve and that number could be as high as $100 a share, for a 27% premium.

Executive Decision: Stanley Crooke

For his "Executive Decision" segment, Cramer spoke with Dr. Stanley Crooke, chairman and CEO of Isis Pharmaceuticals (ISIS), a stock that's been cut in half in recent weeks despite the company's 32 drugs under development. Shares of Isis popped 11.5% today on positive data for one of those drugs.

Crooke said today's news centered around the company's anti-thrombosis drug, which was proven to be seven times more effective in a small number of patients. He said the drug could be used very broadly in a number of indications but there is still more work to be done to get the drug to approval.

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