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It looks like FANG is back and better than ever, Jim Cramer told his Mad Money viewers Thursday. Why are the stocks of Facebook (FB - Get Report) , (AMZN - Get Report) , Netflix (NFLX - Get Report) and Google, now Alphabet (GOOGL - Get Report) , so hot? Cramer said it's because they represent the best of the best.

Cramer admitted that Facebook, a stock he owns for his charitable trust, Action Alerts PLUS, was the most worrisome when he introduced the FANG acronym, but since then the company has been shooting the lights out.

Yes, Facebook is spending like mad on acquisitions like What's App and Oculus, but it turns out, those investments are bearing fruit, keeping users engaged in ever increasing numbers.

And Facebook is just one of the four great companies in FANG. Amazon continues to run to new heights, Netflix continues its dominance of online video and the reorganization of Alphabet -- another AAP holding -- has been praised by investors.

Executive Decision: David DeWalt

For his "Executive Decision" segment, Cramer spoke with David DeWalt, chairman and CEO of FireEye (FEYE - Get Report) , the cyber security company that saw its shares crushed by 22.8% Thursday after reporting weaker-than-expected results. Shares of FireEye are down more than 44% over the past six months.

DeWalt said he's proud of what FireEye has been able to achieve over the past three years, growing from a product into a platform and towards revenue approaching $1 billion. The cyber security market moves in cycles, he continued, and many companies responded to high-profile attacks with lots of spending, and some of that spending is now tapering off.

FireEye remains committed to the long term, DeWalt said. While the company could do better in places like Europe, it has a healthy balance sheet and is ready to adapt to the changing threat landscape.

Cramer said if investors believe in cyber security, they need to take a hard look at FireEye at these low levels.

Can Whole Foods Recover?

In an industry that lives and dies by the same-store sales metric, what should investors make of Whole Foods Market (WFM) , which continues to see its sales sliding?

Cramer said he was not impressed by Whole Foods' weak results, including not only declining sales but rising costs that are crimping gross margins. He also questioned the company's decision to buy back $1 billion worth of its own shares.

Whole Foods admitted it needs to spend more on new technology to speed up long lines and revamp its loyalty program. The company said it is spending more on its new smaller-store format. Management even said on the conference call it needs to "get back to basics," causing an open rebellion from the analysts in attendance.

Can Whole Foods succeed in reinventing itself? Cramer thinks it can, but why would it spend $1 billion on buying back shares rather than fixing problems faster? At some price the negatives will be priced in, he concluded, but we're not there yet.

Executive Decision: Michael McGarry

In his second "Executive Decision" segment, Cramer spoke with Michael McGarry, the new president and CEO of PPG Industries (PPG - Get Report) , the industrial coatings maker that's seen its shares slump 9% over the past month despite strong earnings.

McGarry, a 34-year veteran of PPG, said he sees acceleration of the auto business in Europe, with Germany and the UK remaining strong. Meanwhile in China, McGarry said there was an acceleration in September and PPG remains strong all across China, from small cars to big ones.

Back in the U.S., McGarry noted the construction recovery continues in earnest, while aerospace, where PPG makes glass, paint and sealants, is also a great business for the company.

When asked about the use of cash, McGarry said acquisitions are always at the top of the company's list, but PPG remains committed to its dividend and stock buybacks.

Cramer said when it comes to industrials, investors should be looking for consistency. That's exactly what PPG provides.

Lightning Round

In the Lightning Round, Cramer was bullish on Alcoa (AA - Get Report) , Nordic American Tanker (NAT - Get Report) and Boot Barn (BOOT - Get Report) .

Cramer was bearish on Iridium Communications (IRDM - Get Report) , American Capital Agency (AGNC - Get Report) and Greenbrier Companies (GBX - 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 Walt Disney (DIS - Get Report) , Biogen Idec (BIIB - Get Report) , PayPal (PYPL - Get Report) , Lockheed Martin (LMT - Get Report) and Gilead Sciences (GILD - Get Report) .

Cramer said this portfolio cannot have both Biogen and Gilead and should sell Gilead in favor of an industrial like 3M (MMM - Get Report) .

The second portfolio's top holdings included Netflix (NFLX - Get Report) , PayPal, Twitter (TWTR - Get Report) , Facebook and Walt Disney.

Cramer said this portfolio was way too similar and suggested selling Twitter and Disney to add Bristol-Myers Squibb (BMY - Get Report) and 3M for drug and industrial exposure.

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

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At the time of publication, Cramer's Action Alerts PLUS had a position in BIIB, FB, GOOGL, MMM, PYPL and TWTR.