Basic material stocks caught fire after bottoming with the market in February. Then at the beginning of this week, the group began to sell-off as part of a rotation out of cyclical stocks.
All of a sudden, Martin Marietta Materials reported a spectacular quarter. Martin Marietta is the maker of aggregates, concrete, asphalt and other basic materials used in construction and infrastructure.
Cramer spoke with Martin Marietta's chairman and CEO Ward Nye on what drove a successful quarter.
"We are finally seeing all parts of the economy hitting … So, if you're looking at our business, about 45 percent of it is infrastructure. That is working today," Nye said.
Another clear sign that the market has gotten healthier is the amount of mergers occurring. Quintiles Transnational Holdings reported a strong quarter on Tuesday and announced it will be combining with competitor IMS Health in a $18 billion merger of equals.
Quintiles is the world's largest contract research organization that helps drug companies manage clinical trials. And while Quintiles and IMS are different businesses, Cramer thinks the two complement one another. IMS is the provider of information and technology services that help health care companies measure and improve performance.
The combined company will be called Quintiles IMS Holdings, is anticipated to use IMS Health's technology to improve the design and execution of Quintiles' clinical trials. It also expects the merger to be additive to the combined company's earnings per share.
Unfortunately, analysts who follow the stock hated the move. Since the news broke, Quintiles has been downgraded four times, and the stock has dropped 4 percent since before earnings and the merger were announced.
Cramer spoke with Quintiles CEO Tom Pike, who will transition from CEO to vice chairman of the new company. He discussed the deal, stating "These are difficult decisions for boards to make, but what I'm excited about is what we can do together."
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Sprint: "Sprint had a decent quarter. And that's why I can't hate the stock. It's a decent spec now, the quarter was that good. I do like T-Mobile and I like Verizon more. T-Mobile for growth, and Verizon for dividend."
Ameriprise Financial: "The stock has come down too much. I kind of like it here. It's got a 3.3 percent yield. You buy some here, maybe you buy some at 4 percent yield. That stock is overdone on the downside."
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Correction: This article was updated to reflect the Quintiles and IMS Health merger of $18 billion.