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NEW YORK (TheStreet) -- Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.

AA Chart
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Alcoa (AA - Get Report): In an exclusive interview, Cramer welcomed Klaus Kleinfeld, chairman and CEO of Alcoa, which today reported a 3-cents-a-share earnings miss but on respectable revenue growth.

Kleinfeld painted a bullish picture for Alcoa, noting his company's outperformance in their value added products and solutions business and also a resilience in their commodity operations as well, with both productivity and cash flows moving in the right direction.

Kleinfeld remained excited about Alcoa's aerospace and auto businesses, and noted that U.S. construction is improving as are items like gas turbines.

Kleinfeld said China is less of a driver than it was in years past as Alcoa repositions itself away from the noise of the commodity market and more into value-added and specialized products.

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Union Pacific (UNP - Get Report), CSX (CSX - Get Report) and Kansas City Southern (KSU - Get Report): Some investors may look at the railroad stocks, all down big in 2015, and see value, but Cramer is not among them.

railroads are only as strong as the cargo they carry, and that means coal, oil, chemicals and agriculture, all of which are sliding lower.

For years, coal has been in a slow 2% decline, but this year, shipments of coal have plummeted down 8.8%, as 84 of our nation's 681 remaining coal-fired power plants are set to close. The fact is, coal shipments are not coming back.

Then there's oil. With more and more pipelines being built, it's just not economical to ship oil via rail, especially with oil under $50 a barrel. Other cargo, like chemicals, agriculture are also bad.

Only intermodal shipments have any chance of a rebound, Cramer concluded, and that's simply not enough to make these stocks investable.

DIS Chart
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Walt Disney (DIS - Get Report): If there's any silver lining to the market's continued European and Chinese induced declines, it's that the Federal Reserve is far less likely to raise interest rates in such a turbulent global environment.

That's great news for stocks like Disney, Cramer said, especially on days like Wednesday when shares were down 1.6%. After all, investing is all about picking up the stocks of great companies at discount prices, Cramer said, and that's just what investors got in Disney.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.