Jim Cramer's Top Takeaways: Apache, Yum! Brands

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

APA Chart APA data by YCharts

Apache (APA) : There are still opportunities in the oil patch, Cramer told viewers, even with sinking crude prices. While many oil companies are growing through acquisition, there's still one that's making money the old-fashion way -- by finding more oil on land it already has.

Cramer said Apache's (APA) Alpine High discovery, announced on Sept. 7, is a huge win for this engineering and production company that lost its way a few years ago but is now focused on all the right things.

While many considered the Alpine High too difficult to drill, Apache proved the opposite to be true. As it turns out, the area has a low concentration of clay, not a high concentration as many had predicted. Apache began quietly acquiring 307,000 contiguous acres at distressed prices, averaging just $1,300 an acre.

Cramer said the Alpine High discovery is not yet priced into Apache's shares, and he'd be a buyer after the company reports earnings on Thursday.

Real Money: Anders Keitz says dysfunctional OPEC must rely on Saudi Arabia for an agreement.

YUM Chart YUM data by YCharts

Yum! Brands (YUM) : In an exclusive interview, Cramer sat down with Greg Creed, CEO of Yum! Brands. The company today completed the spin-off of Yum China Holdings (YUMC) , which includes the company's faster-growing, Chinese assets.

Creed said that Yum now represents two highly focused growth companies. Yum China, he said, will obviously focus on China, where urbanization, increased infrastructure spending and the construction of more than 1,250 new malls create a tremendous opportunity for growth. Meanwhile, the rest of Yum! Brands will remain committed to its dividend and returning capital to shareholders.

Creed continued by noting that Yum is also moving more toward a franchise model here in the U.S. and will reduce its company-owned store count from 3,200 to just 1,000. He was also upbeat on Yum's menu changes, which include removing artificial colors and flavors and reducing sodium content.

When asked about the global economy, Creed said "everywhere I go, people are building new restaurants," which leads him to believe there is still growth and opportunity out there. He also commented on Yum's new Pizza Hut concept, which will rebrand the aging "red roofs" into a modern, fast casual concept.

Cramer said that Yum! Brands is doing everything right and he's excited to see the results.

Real Money: Jim Cramer says sometimes the market deserves to go down.

To read a full recap of "Mad Money" on CNBC, click here.

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

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