Cramer's 'Mad Money' Recap: Europe's Problems a Global Problem
But even without a breakup, Cramer said he's a believer in new CEO Alex Gorsky. He said a fresh set of eyes can do wonders at a company and Gorsky, a long-time J&J employee, will know his way around. Unlike other drug makers, Johnson & Johnson is largely past its wave of patent expirations, said Cramer, and the company has a slew of new drugs set to power future growth.
So as the market puts great stocks on sale, Cramer advised viewers to load up the truck on safe dividend stocks like Johnson & Johnson, ones that could surprise with plans to unlock even more value from their company.
Here's what Cramer had to say about callers' stocks during the "Lightning Round":
First Solar (FSLR) : "Sell, sell, sell."
MarkWest Energy Partners (MWE) : "These are all in free-fall. It's a good time to buy but realize that your first buy won't be your last."
Sempra Energy (SRE) : "It's up and up nicely with a nice yield. I'll take it."
Allegiant Travel (ALGT) : "Another bull market stock but I want to ring the register and take profits."
Hertz Global Holdings (HTZ) : "The stock is down a lot already so I will bless buying a little here and more under $10."
Cramer also said that he's still a fan of the SPDR Gold Shares (GLD) .
No Huddle Offense
In his "No Huddle Offense" segment, Cramer said that if investors like bonds, they should love ConEd (ED) , the New York-based utility with a 4% yield.
Cramer said U.S. Treasury bonds may be considered "risk-free" but the fact is these bonds are paying investors the least they've ever been paid at a time when our government's finances are the worst they've ever been.
Compare that to ConEd, a utility that, while not backed by the full faith and credit of the U.S. government, is backed by millions of customers who don't want their lights to go out. Cramer said ConEd pays 2.5 times that of Treasuries, has the ability to raise that payout and gets better tax treatment than bonds.
Couple all these benefits with the fact that ConEd also has tons of growth ahead of it and Cramer said there can be no argument that compared to U.S. Treasuries, investing in ConEd is clearly the better bet.
--Written by Scott Rutt in Washington, D.C.