"Iger's calming words about business on the conference call reversed a substantial decline and turned it into a small advance," the "Mad Money" host said.
Iger performed his magic by telling investors about all of the tremendous events and special things that will be added to the bottom line if investors hung on to Disney's stock.
It made Cramer feel like he was about to miss the opening of the biggest movie ever. Even better, Iger topped it off with a monster buyback, which seems to accelerate whenever the stock is down. Disney repurchased 15 million shares for approximately $1.5 billion last quarter, with plans to buy another $7 to $8 billion in the rest of the year.
"It's like Iger was saying, you want to sell Disney off of ESPN? Go ahead … I'll make more money off of you than you ever dreamed of," Cramer said.
Cramer hears worries every day that stocks are now overvalued, but still maintains that stocks aren't as outrageously priced versus other rallies in the past.
"The valuations are pretty darned reasonable, but I have a hard time proving it to people because we are in an incredibly visceral, polarizing moment stemming from the election of a pro-business president who seems to rack up an incredible amount of baggage on a daily basis," he said.
To prove that stocks are not overvalued once and for all, Cramer compared the top companies that dominated the market back in 1999, when the market was last on the verge of collapsing due to true overvaluation.
He ultimately found that five of the six largest companies right now all have justified fundamentals, with the only outlier being Amazon, which Cramer said cannot be confined to a spreadsheet.
"We create great jobs here when we sell our products every place, and I think the president knows that," Immelt said.
Immelt also said he likes what Trump is doing so far when it comes to infrastructure, tax reform and regulatory reform. He plans to help Trump in any way that he can, and intends to lead by example.
Infact, Immelt said his company has been navigating the world on its own, and is happy to continue doing that without help from Washington.
"We don't have to go through Washington on our way to be global. We are global. We've got people all over the world," Immelt said.
Many investors also fret what Trump's next move will be for the drug industry, but there's one stock that Cramer says it the best run and fastest growing member of the group, and he owns it in his charitable trust.
Allergan is the pharmaceutical company with franchises in the dermatology, eye care, women's health and cardiovascular disease categories, among others. Cramer was astounded when Allergan blew away the numbers when it reported on Wednesday.
The company also has a strong pipeline, thanks to a series of small acquisitions. Cramer spoke with Allergan's chairman and CEO Brent Saunders, who said the strong focus on research and development have helped the company's success.
"We have been really focused on R&D. No one was really paying attention when we were doing it, but we have been really focused," Saunders said.
Take Two interactive is best known as the developer of the video game "Grand Theft Auto," but Cramer said the proof is in the pudding when it comes to this company's strength. The company hasn't released a new "Grand Theft Auto" title in three years, yet the stock has managed to almost double in the past two years.
Take Two reported a solid quarter on Tuesday, with a 51.2 percent gain in bookings, which is typically the best way to judge the company's health. Even though Take Two lowered its full-year revenue forecast, that was simply because of new federal guidelines that require it to defer some gaming revenue based on how long the users play the games.
Cramer spoke with Take-Two's CEO Strauss Zelnick, who explained how the company is still reaping the benefits of "Grand Theft Auto's" free online version of the game.
"When you're in the game you can add virtual currency. When we drop new great content into the game, it increases engagement, that increases virtual currency sales. So, we just had a record quarter for recurrent consumer spending, and that was partially driven by 'Grand Theft Auto' online," Zelnick said.
In the lightning round, Cramer gave his take on a few stocks from callers:
BlackRock: "All that stock seems to do over time is give you a good dividend, go up a lot and makes you a lot of money. I think you've got to stick with it."
Macquarie Infrastructure Corp: "It's got a good yield. I know people like infrastructure. I am not going to endorse it because I've got to find out why it took such a big hit. I've got to do homework and I will come back to you."