Cramer's 'Mad Money' Recap: Making Sense of the Rally
However, outside of coal, Ward painted a rosy picture, noting that auto shipments rose 27% and nearly 80% of CSX's other markets are stable to improving. Even in the lumbering forest products industry, which is closely tied to the housing markets, is showing slow but steady growth. Chemicals, natural gas and oil shipments are also rising.
Ward also touted CSX's new hub in Ohio as opening new markets for the company and providing customers with higher levels of service than ever before.
Cramer called CSX a cheap stock and one that's not yet done going higher.
In the second "Executive Decision" segment, Cramer spoke with Joe Almeida, chairman, president and CEO of Covidien(COV) , the biotech firm that's spinning off its lagging pharmaceuticals business to unlock the full value in its red-hot medical device segment. Covidien beat Wall Street estimates by 1 cent a share on a 2.8% rise in revenue.
Almeida said that Covidien is all about choices, which is why the company is focused on a portfolio of great products and allocates capital smartly to those products. He said Covidien's portfolio is balanced not just among products but also among geographies, with a focus on emerging markets.
Almeida credited Covidien's research and development efforts as allowing the company to enjoy organic growth year after year. He said his company invests heavily in research and is opening new R&D centers in India and China to exclusively help bring devices to those emerging markets.
As the battle over health care continues here in the U.S., Almeida told investors the vast majority of Covidien's products are life-saving devices and only a small fraction are elective procedures.
Cramer continued his support for Covidien given the company's good balance sheet, extensive research and development and great product portfolio. He said that when Europe knocks the markets down, stocks like Covidien are the ones investors should be buying on the cheap.
Here's what Cramer had to say about callers' stocks during the "Lightning Round":
Align Technology(ALGN) : "I happen to like the company very much. I want to stand buy it, it's terrific."