Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.


Trying to figure out the "pin action" from one company's earnings is not easy, Jim Cramer told his Mad Money viewers Thursday, but doing so can uncover a lot of buying opportunities.

Case in point: Buffalo Wild Wings (BWLD) , which saw its shares plunge 17% after it reported a dramatic deceleration in same-store sales. Naturally, other restaurants including Darden Restaurants (DRI - Get Report) and Dinequity (DIN - Get Report) also followed lower but created chances to buy McDonald's (MCD - Get Report) , a turnaround story, and Domino's Pizza (DPZ - Get Report) , which passes many of its costs to its franchisees, at great prices.

Meanwhile, in the semiconductor space, NXP Semiconductor (NXPI - Get Report) offered investors horrible guidance today but that only created buys in more stable semi names Texas Instruments (TXN - Get Report) and Intel (INTC - Get Report) .

Weakness in Delphi Automotive (DLPH - Get Report) and BorgWarner (BWA - Get Report)  helped make Ford (F - Get Report) and General Motors (GM - Get Report) buys as well, Cramer noted.

But the reverse is also true. Good numbers from Sherwin-Williams (SHW - Get Report)  should spell good news for Home Depot (HD - Get Report) and rival Lowe's (LOW - Get Report) . Cramer said he'd be a buyer of both those companies.

Then there's Apple (AAPL - Get Report) , a stock Cramer owns for his charitable trust, Action Alerts PLUS. He said that his stance on Apple hasn't changed: Own it, don't trade it.

Executive Decision: Rick Hamada

For his "Executive Decision" segment, Cramer checked in with Rick Hamada, CEO of Avnet (AVT - Get Report) , the supermarket to the tech industry and a company that just delivered a 9-cents-a-share earnings beat.

Hamada said that tech is still a great business to be in and Avnet is seeing continued strength in its components business, along with a continued recovery in Europe. He said that with all of the new trends in social, mobile, cloud and analytics, there is still lots of growth ahead. Hamada fell short of calling a bottom in the personal computer market, however.

When asked to comment on the horrible forecasts from NXP Semiconductor, Hamada said that while he didn't know the specifics for NXP, he said typically a big disconnect in earnings like that stems from direct customer problems and not from the broader markets.

Avnet also continues to buy its own stock, repurchasing $145 million in shares this quarter with another $400 million authorization still outstanding.

Cramer said Avnet continues to be a great, low-risk way to play the tech bull market.

The Bears Are Out There

The bears continue to roam Wall Street, Cramer told viewers. First they took on the oils, then the industrials and more recently the biotechs. But there are two sectors from which the bears continue to shy away -- auto parts and defense -- and those sectors remain screaming buys.

Cramer said the high prices of new cars continue to make people keep their aging cars longer, which is why O'Reilly Automotive (ORLY - Get Report) shares surged another 4.9% today. In fact, all of the auto parts retailers are near 52-week highs, with lowly Pep Boys (PBY) getting a takeover bid.

Then there are the defense stocks. While investors mistakenly focus on the U.S. sequester, they ignore the increased spending by practically every other country in the world. With plenty of big contracts to go around, Cramer said stocks like Lockheed Martin (LMT - Get Report) remain buys.

Executive Decision: Jonathan Ayers

In his second "Executive Decision" segment, Cramer sat down with Jonathan Ayers, chairman and CEO of Idexx Laboratories (IDXX - Get Report) , the animal health company that makes everything from diagnostic tests and digital imaging products to information management systems for animal health providers. Shares of Idexx fell nearly 10% after the company reported a 1 cent-a-share earnings beat but with weaker-than-expected guidance.

Ayers said Idexx continues to innovate and grow in the vet medicine industry, and much of the forecasted weakness stems from global currency pressures. He said people love their pets all over the world and that isn't likely to change anytime soon.

Ayers touted new tests Idexx is developing for early detection of kidney disease in pets. He said kidney disease is to dogs and cats as heart disease is to humans. But by detecting it early, diets can be changed to minimize the effects.

Cramer said Idexx is the only vet play that he trusts.

Lightning Round

In the Lightning Round, Cramer was bullish on Verizon (VZ - Get Report) , T-Mobile US (TMUS - Get Report) , Sierra Wireless (SWIR - Get Report) , Novavax (NVAX - Get Report) , VeriFone (PAY) , Boeing (BA - Get Report) , Honeywell (HON - Get Report) , Alcoa (AA - Get Report) , Ironwood Pharmaceuticals (IRWD - Get Report) and Palo Alto Networks (PANW - Get Report) .

Cramer was bearish on Vonage Holdings (VG - Get Report) , Rackspace Hosting (RAX) , Weight Watchers (WTW) , Woodward (WWD - Get Report) and Fortinet (FTNT - Get Report) .

Am I Diversified?

In the "Am I Diversified?" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.

The first portfolio included Visa (V - Get Report) , Walt Disney (DIS - Get Report) , Wells Fargo (WFC - Get Report) , PayPal (PYPL - Get Report) and Wingstop (WING - Get Report) .

Cramer said this portfolio needed to sell either Visa or PayPal because it cannot have both.

The second portfolio's top holdings included Facebook (FB - Get Report) , Amazon.com (AMZN - Get Report) , Netflix (NFLX - Get Report) , Gilead Sciences (GILD - Get Report) and Starbucks (SBUX - Get Report) .

Cramer said this portfolio was properly diversified.

The third portfolio had Berkshire Hathaway (BRK.B - Get Report) , AT&T (T - Get Report) , CVS Health (CVS - Get Report) , Cemex (CX - Get Report) and Chevron (CVX - Get Report) as its top five stocks.

Cramer also blessed this portfolio as properly diversified.

The fourth portfolio's top stocks were Schlumberger (SLB - Get Report) , Energy Transfer Partners (ETP) , Celgene (CELG - Get Report) , Target (TGT - Get Report) and General Electric (GE - Get Report) .

Cramer said this portfolio needed to sell either Schlumberger or Energy Transfer and add a defense stock in its place.

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

To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL, ETP, FB, LMT, PYPL, SBUX, TGT and WFC.