This week will be a defining moment for the direction of the markets, Jim Cramer announced to his Mad Money viewers Monday. This week, there are some key earnings reports coming and investors need to take notice.

Cramer said he is, of course, watching the action in Procter & Gamble (PG) to see if activist Nelson Peltz can gain a seat on the company's board of directors.

Cramer is also watching Netflix (NFLX) , which today announced that it has more international subscribers than domestic ones. Over on Real Money, Cramer explains why Netflix is a better long-term play than Tesla Motors (TSLA) . Get his insights with a free trial subscription to Real Money.

Tuesday bring earnings from Johnson & Johnson (JNJ) , UnitedHealth Group (UNH) , Bank of America (BAC) , Goldman Sachs (GS) and IBM (IBM) . Cramer said to buy Johnson and UnitedHealth on any weakness, but be wary of the financials, which are still waiting for more interest rate hikes. As for IBM, Cramer said he's sticking by the company with its 4% yield, and this quarter should show some positive progress.

Next, on Wednesday, Cramer expects T-Mobile (TMUS) to post an upside surprise, while Union Pacific (UNP) should provide a read on the transports come Thursday. Cramer was also bullish on Microsoft (MSFT) and Visa (V) , both of which also report Thursday.

Finally on Friday, it's a trifecta of Action Alerts PLUS holdings, Schlumberger (SLB) , General Electric (GE) and Honeywell (HON) .

Cramer said the outlook for Schlumberger could be brutal for the oil patch, and he was bearish on the short-term outlook for General Electric. Honeywell, however, will provide an good view on many parts of our industrial economy.

Cramer and the AAP team say they are keeping a close eye on oil and Schlumberger's earnings report. Get in on the conversation with a free trial subscription to Action Alerts PLUS.

Zimmer Biomet 

Sometimes a company can have a great long-term story, but management fails to deliver. That's why Zimmer Biomet (ZBH) saw its shares head higher when CEO David Dvorak announced he would be stepping down from the company.

Cramer said it's been two years since Zimmer merged with Biomet, a deal that was supposed to ignite growth and rival the performance of industry leaders like Stryker (SYK) . Back then, everyone was excited about the deal, Cramer included.

But in the two years since the deal closed, Zimmer has delivered sub-optimal performance, with organic growth of only 1.3%, far short of the 4% the company estimated. Zimmer's last pre-announcement was also at the low end of range, signaling that a charge of fortunes was not in the cards.

But now that activist Janis Partners has taken a stake in the company, and CEO Dvorak has stepped aside, perhaps things can change at Zimmer Biomet. Cramer said he's not willing to recommend the stock quite yet, but the news is encouraging.

Executive Decision: Aurinia Pharmaceuticals

For his "Executive Decision" segment, Cramer welcomed Dr. Richard Glickman, chairman and CEO of Aurinia Pharmaceuticals (AUPH) , to the show. Shares of Aurinia are up 250% so far in 2017 on the promise of the company's treatment for Lupus Nephritis.

Glickman explained that Lupus Nephritis is an inflammation of the kidneys and is one of the most devastating forms of Lupus. It typically leads to complete kidney failure that results in the need for kidney transplant. The condition affects between 500,000 and 1.5 million patients in the U.S. alone.

Aurinia's treatment, Voclosporin, is currently entering Phase III trials and could be submitted for approval by 2020. So far, the company's Phase II trials have met all their endpoints with results that are "night and day" compared to current treatments.

When asked about their cash position, Glickman said that his company has $200 million in cash and will not need more cash before 2020.

A Boost from International Growth 

Is this the quarter that international growth saves the day? Cramer said he's been watching the iShares MSCI Eurozone ETF (EZU) and the answer appears to be… yes.

While the U.S. is hampered by gridlock in Washington and a Federal Reserve that will eventually turn into an enemy of the markets, the rest of the world is seeing growth.

Cramer said he's encouraged by what he's seeing in Europe, Russia, India and China. Netflix saw strong international growth and he expects the same from BHP Billiton (BHP) and Vale (VALE) . We should also see strength from the likes of Caterpillar (CAT) and Honeywell (HON) .

In his "Off The Tape" segment, Cramer again sat down with Aaron Easterly, CEO of the privately-held, the nation's largest network of pet sitters and dog walkers. Rover just completed a $65 million round of funding.

Easterly admitted that Rover is not the best name for his company, as they provide plenty of pet sitting for cats, hamsters, horses and other animals as well. Rover is now a trusted brand for pet owners of all kinds across the country. is also now the largest pet service in Canada and Easterly said they're looking to expand into other countries as well.

When asked about the pet sitters that list on their service, Easterly said only about 15% to 20% of all applicants get approved and those people who do it for the love of pets are the people that excel on their service.

Lightning Round

In the Lightning Round, Cramer was bullish on Carnival (CCL) , Tableau Software (DATA) , Groupon (GRPN) , Newell Brands (NWL) and MGM Resorts (MGM) .

Cramer was bearish on Exelixis (EXEL) and Lloyds TSB (LYG) .

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At the time of publication, Cramer's Action Alerts PLUS had positions in SLB, GE, EZU, NWL.