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For shareholders, there is nothing worse than competition, and less of it breeds opportunity. Jim Cramer believes the reduction of competition defined the winners of the tape on Wednesday.
"There is just enough competition among companies to keep their stock in check, but when the competition lessens, companies are instantly rewarded with stocks that rally, making it worthwhile to stick around to see what group will be the next one to soar," the "Mad Money" host said.
Companies that make basic data storage devices that allow information to be kept in personal computers, specifically DRAM and flash semiconductors, may also have less competition. Western Digital announced it would have sharply better-than-expected earnings.
Cramer attributed that to better gross margins at Sandisk, the recently acquired maker of flash memory chips. Supply in the flash industry is thus constrained because many companies have given up making the chips because of competition, and prices could go higher.
On the flipside, Sprouts Farmers Market demonstrated what can happen with too much competition. Sprouts is a natural and organic supermarket that was at one time expected to take market share from Whole Foods. Yet, on Wednesday, the company confirmed it would have flat same-store sales.
"A tremendous growth story with flat same-store sales is actually a no-growth story, with shareholders fleeing as if Sprouts sells nothing but Spam and Velveeta," Cramer said.
When Cramer compared the pattern of the three worst health scares in recent history — Jack in the Box in 1993, Taco Bell in 2006 and the KFC Chinese food contamination incident — he found that investors should buy the stock before the anniversary of the bad news to catch the bottom.
"History is on Ackman's side. Sometimes that is all that matters. I still believe that there will be a chance to get into this stock at a lower price, because the current quarter likely won't be anything to write home about," Cramer said.
Schultz told the "Mad Money" host Jim Cramer "I strongly believe that Hillary Clinton is the best choice for the country and the rest of the world."
"I think as Americans unfortunately, we have been witnessing the very worst of a terrible political season, which has been such hatred and vitriol and divisiveness … in view of that, so many Americans have been led to believe that the story of America is just that," Schultz said.
Starbucks unveiled its first original content series entitled "Upstanders" on Wednesday. It aims to highlight stories of humanity through compassion, citizenship and civility. Schultz and his team sought to find just 10 to 15 stories, and instead found hundreds.
"This is not about marketing, it's not about PR. It's certainly not a branded series," Schultz said. "This is just sharing these kinds of stories about ordinary people doing extraordinary things, and this is about citizenry. I think at a time in America we are witnessing such a dispirited level of divisiveness in terms of political situation — let's find the true American story."
Dave & Buster's stock declined more than 2 percent Wednesday after it reported lackluster earnings. The part restaurant, part sports bar and part gaming center steadily worked its way higher for ages since coming public in 2014.
However, when Cramer dug deeper on the quarter, he found the real issue behind the same-store sales. Dave & Buster's reported a small 1 percent same-store sales growth, down 10 percentage points versus last year. While management maintained its full-year earnings and revenue guidance, it did cut the same-store sales forecast by 1 percent.
Dave & Buster's CEO Stephen King told Cramer he is still optimistic for the second half of the year. "We feel really good about our promotional lineup both from an advertising and sports standpoint … as well as some of the games we have coming up," King said.
Medical device stocks have also caught Cramer's eye within the health care sector, especially when it seems to him that almost anything related to the drug industry has been slammed by a story of Washington attempting to crack down on higher drug prices.
ResMed makes machines that are used to treat breathing disorders like sleep apnea and chronic obstructive pulmonary disease. ResMed also recently embraced connectivity with various cloud-based software applications to help diagnose, manage and treat these conditions.
It also recently acquired Bright Tree for $800 million. The company is a leading provider of business management and clinical software applications for the post-acute care industry.
"This is a high-quality company that makes more than just fancy breathing machines to help you sleep," Cramer said.
Cramer spoke with ResMed's CEO Mick Farrell, who outlined the benefits of ResMed for patients undergoing treatment.
"What we do across the spectrum is we take patients who are sick and in hospital and we put them in the home, and we take care of them in the home. We have portable respiratory devices and home respiratory devices that with sleep apnea literally help them breathe every night — give them the gift of breath," Farrell said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Disney: "This stock acts terribly ... It acts terribly, which means short term I don't like it. But longer term I am a passionate believer in the franchise."
Tech Data: "I like Tech Data. Boy, it really kicked Avnet's butt, I have to admit. I think it's a good situation. It's got a lot of European exposure, I like that, too."