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NEW YORK (TheStreet) -- When the market falls over 4%, as it did Monday, Jim Cramer tries to look at the bright side, he told his Mad Money viewers. That means taking a closer look at three companies that should be bought on the recent dip -- Disney (DIS) , Starbucks (SBUX) and Nike (NKE) .

Cramer said all three have impressive growth and all benefit from falling oil prices because input costs decrease while its customers' dispensable income increases.

Nike has been "such a fabulous performer" since reporting earnings in September, Cramer said. Earnings climbed 27% and orders surged 14% on the back of strong demand in the U.S. and China. The company continues to innovate, CEO Mark Parker is completely underrated and the brand continues to resonate with consumers.

Starbucks, a holding in Cramer's charitable trust Action Alerts PLUS, is a stock that has languished below $80 per share for almost all of 2014, Now it is finally breaking out. The company's new high margin Reserve concept is innovative and imaginative, and management has great control over its commodity costs, Cramer said.

Finally, Ebola fears have subsided and with them concerns about possibly contracting the disease at Disney theme parks and on cruises. Disney's Frozen franchise, its portfolio of characters from different movies and its ESPN network continue to drive impressive sales.

The bottom line: Investors should use the recent pullback to buy these three high-quality companies. As long as the current management stays put, these stocks should churn out terrific long-term returns, Cramer said.

Executive Decision: Al Monaco

For the “Executive Decision” segment, Cramer met with Al Monaco, the CEO of Enbridge (ENB) . The pipeline company dropped 4.2% on Monday due to falling oil prices.

Monaco said the company does a lot of work with oil sands producers, which have time horizons of 40 to 50 years. For that reason, the short-term fluctuations in oil prices seldom matter. Most of the company’s contracts are with large corporations with incredibly strong balance sheets, he added. Due to the contractual agreements, Enbridge has fairly predictable cash flows.

As a token of its confidence, management recently boosted its dividend by 33% and provided strong guidance for 2015, Monaco said. Still, this is a tough environment for oil producers, he acknowledged. The low oil prices and low interest rates should result as a “huge shot in the arm” for the economy and the industry over the long term, Monaco said.

Cramer feels as though this “toll road” stock is being unjustly sold off because it does not need rising oil prices to become more profitable. Therefore, falling oil prices should not bring the stock down. Instead, it gets paid on the amount of oil shipped through its pipeline network. The recent selloff seems like a buying opportunity, he said.

Merck-Cubist Is a Big Deal

In “The Big Deal" segment, Cramer looked at the $9.5 billion takeover of Cubist Pharmaceuticals (CBST) by Merck (MRK) , another Action Alerts PLUS portfolio stock.

Cubist could be a great fit for Merck, especially if Cubist has treatments in the pipeline to continue tackling hospital diseases, he pointed out. While people go to hospitals to seek treatment, these places are breeding grounds for viruses and bacteria that have no current form of treatment. The helplessness of the hospitals and frequency at which this infections take place, especially in the elderly, makes the market for these types of drugs rather large, Cramer said

So while some may think Merck overpaid in its acquisition of Cubist, it could also be a huge opportunity if it’s got some effective treatments in the pipeline. Investors seem to agree because Merck a hit 52-week high on a day where the broader market finished lower, Cramer said.

Executive Decision: Chip Johnson

On the show’s second “Executive Decision” segment, Cramer sat down with Chip Johnson, president and CEO of Carrizo Oil & Gas (CRZO) . The stock fell 7% on Monday and is now down 46% in the past six months.

However, that’s better than most of its competitors’ stock, Johnson said. The company has made a large effort to reduce its debt, which now stands at $1 billion and its leverage ratio is also better than much of its competition.

While oil prices can continue lower, roughly half of the company’s oil production for 2015 is hedged at $92 per barrel, he said. Even if oil were to drop to $45 per barrel, that level would only be sustained for a month or two before moving higher. Johnson estimated that oil prices would be higher by this time next year.

Right now the company still has $800 million in revolving credit, cash on the balance sheet and plenty of flexibility, he said. It’s a “big cushion” for us, Johnson added.

Cramer said it takes confidence for a CEO to come on the show when the oil market is being thrashed this badly. This is reassuring news for this “top notch” company that has the best prospects, he added.

Lightning Round

In the Lightning Round, Cramer was bullish on Xilinx (XLNX) , Spirit Airlines (SAVE) , American Airlines (AAL) , Southwest Airlines (LUV)  and Royal Dutch Shell (RDS.A) .

Cramer was bearish on Consolidated Edison (ED) , Linn Energy (LINE) , Taser International (TASR) , JetBlue Airways (JBLU) , KBR (KBR) and Apache (APA) .

Executive Decision: Dr. Michael Kauffman

For the show’s third “Executive Decision” segment, Cramer was joined by Dr. Michael Kauffman, co-founder and CEO of Karyopharm Therapeutics (KPTI) . The stock has enjoyed a strong year of trading, up almost 300% in the past 13 months from its IPO price of $16.

The company’s drug, Selinexor, is a treatment that restores the body’s cancer fighting proteins back to activity and fends off invasive cancer cells, particularly those found in multiple types of blood cancer, Kauffman said. His is the only company to develop this type of treatment, Kauffman said.

While this drug is not yet approved by the FDA, the preliminary data is very promising, he added. Because of the potential that this treatment has, Kauffman believes that Karypharm Therapeutics can remain as a standalone company.

Cramer acknowledged the company is a speculative play in the biotech space, but added the data released so far looks very encouraging.

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

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-- Written by Bret Kenwell

At the time of publication, Cramer's Action Alerts PLUS had a position in MRK, RDS.A and SBUX.

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