Cramer's 'Mad Money' Recap: Looking for Winners

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NEW YORK ( TheStreet) -- This quarter's earnings season has been difficult to navigate, Jim Cramer told "Mad Money" viewers Wednesday, but that doesn't mean there aren't winners out there.

Cramer said all the companies that have been bucking the trend of disappointments have one thing in common -- great execution.

Case in point, PPG (PPG) versus DuPont (DD) , a stock Cramer sadly owns for his charitable trust, Action Alerts PLUS. Cramer said DuPont got hurt bad this quarter because it plays in the commodity chemical market. PPG, meanwhile, is a specialty chemical maker, developing innovative products for autos, aerospace and even sunglasses.

Then there's the case of Buffalo Wild Wings (BWLD) and Chipotle Mexican Grill (CMG) versus Panera Bread (PNRA) . Same-store sales were disappointing at Wild Wings and Chipotle but not at Panera, which used new menu items to keep customers coming back for more, he added.

Even in the railroads, execution matters, said Cramer. That's why Union Pacific (UNP) is up 14% for the year while rival Norfolk Southern's (NSC) quarter came off the rails.

The trend is also evident in the industrials, noted Cramer, with Honeywell (HON) making strides with new products, while rival 3M (MMM) painted an uncertain picture for investors.

Cramer said the markets clearly aren't all bad, if investors know where to look.

Executive Decision

In the "Executive Decision" segment, Cramer sat down with Martin Franklin, executive chairman at Jarden (JAH) , a company that just delivered an earnings beat of 4 cents a share and a stock that's more than doubled since Cramer first recommended it in November 2009.

Franklin said Jarden is all about innovation, which is why his company makes a $1 million brand investment into itself each and every day. Whether it's developing new products, replacing older ones or promoting the products they have, Franklin said innovation will always be key to having a great company.

One such innovation Franklin debuted was a small and stylish smoke detector. He said it turns out smoke detectors don't have to be white, nor do they have to be so large or so boring. Other areas of innovation include the company's Rawlings sports equipment brand, which has invested heavily in a new football helmet design that debuted recently.

Jarden also has a commanding lead in the outdoor equipment market and is, in fact, the world's largest supplier of such equipment. Franklin said whether it's lanterns, snowboards, tents or sleeping bags, Jarden probably has a new, innovative product to show you.

Among Jarden's other accomplishments is its share price. The company recently performed a $500 million Dutch tender offer for its own shares. Franklin explained that during times when Jarden can't find a new brand to invest in, it is choosing to invest in itself by buying back shares to reward shareholders. Yet, despite the company's bold move, shares still trade at a paltry 11 times earnings.