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Correction: Includes Timkensteel in the Lightning Round section.
NEW YORK (TheStreet) -- Never forget what the market is truly craving, Jim Cramer told his Mad Money viewers Wednesday. The markets go higher on a weaker U.S. dollar, lower interest rates, a quiet Federal Reserve and higher oil prices, Cramer reminded viewers. When we see those signs, as we did today, a market rally ensues.
The strong dollar has been capping the markets for weeks, Cramer noted, but today it declined a bit, which was welcome news. China's shocking currency devaluation should keep the Fed, and higher interest rates, at bay, which is another big plus.
Then there's oil. The consensus continues to be that oil must be plummeting to near zero. But as Cramer detailed in last night's "Off the Charts" segment, the technicals are pointing to a bounce in the oil patch, which is exactly have happened today.
Couple all these positives with the news that Apple's (AAPL - Get Report) Watch might not be the flop that some outlets are claiming -- both Fossil (FOSL - Get Report) and Macy's (M - Get Report) , which don't sell Apple's Watch, noted slowing watch sales in their earnings -- and the market was able to get its groove back. That's why Cramer continues to own Apple for his charitable trust, Action Alerts PLUS.
Executive Decision: Stanley Erck
For his "Executive Decision" segment, Cramer sat down with Stanley Erck, president and CEO of Novavax (NVAX - Get Report) , the vaccine maker that's roared 120% since Cramer featured the company in mid-January.
Erck explained that drug companies have been working on vaccines for viruses like Respiratory Syncytial Virus, or RSV, for over 50 years, but Novavax took a new approach to engineering a nano-particle that invokes a powerful immune response in the body that it showing promising results. RSV affects mainly babies, children and the elderly, Erck noted, and is a big issue.
Novavax is also working on vaccines for pandemic flu. Erck said Novavax' platform allows the company to react quickly, as it did with the avian flu outbreak and last year's Ebola outbreak. In the case of avian flu, Novavax had a vaccine in clinical testing just 91 days after the flu was identified.
When asked how a small biotech company can outpace the biggest of drug companies, Erck said, "That's what biotechs do, they disrupt," noting smaller companies can think up all sorts of non-traditional ways to make drugs that bigger companies can't.
Macy's surprised Wall Street with an extremely disappointing quarter that sent shares reeling down over 5%. It turns out Macy's has too much of everything, Cramer noted -- too much apparel, too many accessories and too much real estate.
Cramer said Macy's has some real structural problems it needs to solve, including its ill-timed expansion in Puerto Rico and China and its slow response to online-only retailers like Amazon.com (AMZN - Get Report) .
Even in furniture, an area Macy's said did well this quarter, the company is seeing online rivals such as Wayfair (W - Get Report) shoot the lights out, with shares roaring over 28% today on an exceptionally strong quarter.
Cramer said he still has faith that Macy's can fix all of its problems, but in the short term the company has clearly lost its way.
Executive Decision: Chuck Robbins
In his second "Executive Decision" segment, Cramer also spoke with Chuck Robbins, the new CEO of Cisco Systems (CSCO - Get Report) , which today posted a 3-cents-a-share earnings beat with robust guidance. Cisco is currently in Cramer's Action Alerts PLUS portfolio.
Robbins said he's very pleased with the quarter, which included record revenue and a 20% rise in deferred revenues as Cisco moves more into subscription and software services.
Robbins said Cisco is also aligning its product portfolio to better meet the needs of its customers, partners and shareholders, which means certain segments, like set-top boxes, are no longer a priority.
When asked about sales overseas, Robbins noted that China only represents 3% of sales currently but Cisco remains committed to that country over the long term. In Europe, sales were actually up slight, Robbins said.
In the Lightning Round, Cramer was bullish on Nucor (NUE - Get Report) , Taser International (TASR) , The Blackstone Group (BX - Get Report) , Wells Fargo (WFC - Get Report) , iRobot (IRBT - Get Report) and Paychex (PAYX - Get Report) .
Executive Decision: Richard Thompson
In a third "Executive Decision" segment, Cramer sat down with Richard Thompson, CEO of Freshpet (FRPT - Get Report) , the all-natural pet food maker that's seen its shares tumble 20% so far in 2015 as investors question the company's path to profitability.
Thompson said Freshpet will get to profitability, but for now it's a growth company disrupting a big industry and is spending to take market share. He said his company continues to execute the plan it came public with and has a great team and great products in place.
In addition to the company's current offerings, Thompson said Freshpet is also entering the $17 billion dry pet food market, and continues to test and refine its cat food line at select retailers.
Cramer said Freshpet is delivering on the growth it forecast, and perhaps some investors expected too much too soon from the company.
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