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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Monday April 15.

A Fight That Is Just Beginning: Dish Network (DISH), Sprint Nextel (S), Softbank (OTCPK:SFTBF)

Dish Network (DISH) announced a takeover bid for Sprint (S), and Sprint rose 13.5% on the news. Dish wants to own Sprint so it can become a communications powerhouse, and to fulfill its goal of offering cable, internet and cellphone service under one roof. David Faber of Squawk Box discussed Dish's goal of providing a "robust amount of bandwidth" to customers. Softbank (OTCPK:SFTBF) made the original offer to Sprint, but Faber thinks Dish has the advantage, because it is a "lean operator," and manages costs well. He thinks Sprint and Dish "would marry quite well." While this hasn't yet turned into an all-out bidding war, Faber thinks the attempt to buy Sprint is "a very interesting fight that is just beginning."

What is Happening to the Market? Stocks discussed: General Mills (GIS), Elan (ELN), Ford (F), General Motors (GM)

Even before the bombing at the Boston Marathon, stocks were being hit hard. The Dow finished 266 points down, the largest decline of the year so far. China reported a disappointing economic number, but Cramer doesn't think it was sufficiently bad to account for the Dow falling 266 points. One possible reason is the dramatic drop in gold prices, down 10% in a single day, with gold futures declining 15% in two days. While investors often buy favorite stocks on declines, Cramer's advice is to hold off buying until there is a definitive explanation for the sudden sell-off. He outlined 3 possibilities:

1. There is a main reason for the sell-off that is not yet generally known. This is similar to what happened before the news broke about the bank scandal in Cyprus; stocks dropped before the headlines appeared.

2. Global economic weakness is responsible for the decline. This is a favorite theory of those who are generally bearish.

3. There was a sudden sell-off because of margin calls. When hedge funds buy stocks on the margin and can't pay, margin clerks sell automatically. Cramer thinks this is a likely explanation, because he saw this pattern repeatedly during his years as a hedge fund manager, and he thinks the present action looks like that pattern.

For those who believe that the decline was because of global weakness, General Mills (GIS) may be a stock to buy, but not immediately. Those who believe the margin calls might be responsible might consider high-yielding industrials and MLPs. However, he would wait until more information becomes available; "We don't know the answer. At least not yet. I have a feeling we won't have to wait very long."

Cramer took some calls:

Elan (ELN) has seen a significant gain, and Cramer would ring the register.

Ford (F) and General Motors (GM) are stocks that Cramer is concerned about because of their exposure to Europe.

CEO Interview: Dr. Ron Cohen, Accorda Therapeutics (ACOR)

Accorda Therapeutics (ACOR) jumped 12.6% on data that showed its treatment for MS may have additional indications for stroke patients. Unlike physical therapy, ACOR's treatment can actually help reverse the effects of the disease. Dr. Ron Cohen commented, "Physical therapy can help make the most of what you have left. This treatment gives you more of what you have left." The drug might have indications of cerebral palsy and those suffering from spinal cord injury. Currently, the drug is in Phase 2 testing for this indication. Cramer thinks, if successful, the drug can give ACOR more upside.

CEO Interview: John D. Schiller Jr. Energy XXI (EXXI). Other stock mentioned: Apache (APA)

Oil has gotten hammered, and oil stocks have declined along with the commodity. Energy XXI (EXXI) has been one of the hardest hit of the oil stocks. It has assets in the Gulf of Mexico, and is 70% oil and 30% natural gas. The company missed its last earnings estimates by 15 cents on a production shortfall caused by Hurricane Isaac. However, EXXI has some good news recently in the form of a joint venture with Apache (APA) in the Gulf of Mexico. EXXI trades at only 8 times earnings, and given its strategic acquisitions, is too good to write off. CEO John D. Schiller Jr discussed an expected improvement in production and cash flow, given the recent joint venture with Apache. He added that acquisitions move the needle more dramatically for EXXI than for larger oil companies. The company has hedged its oil prices, and is somewhat shielded from volatility. Cramer thinks EXXI's decline is more due to problems in the industry than with EXXI in particular.

Gold: Where It Stops, Nobody Knows. Stock discussed: SPDR Gold Trust ETF (GLD)

Cramer has long said that gold is like insurance for portfolios, and should be considered as an alternative currency. However, gold has reached its lowest level in long time, and is down 25% from its October highs. While he was once bullish on the SPDR Gold Trust ETF (GLD), he now thinks that gold coins might hold up better than the ETF. He doesn't recommend trading gold, but holding it as an investment. Part of gold's decline might be because hedge fund managers were desperate to increase gold positions when prices were high, and were buying on margin. Margin clerks have sold these holdings. No one knows when the selling in gold will end; until then, it is hard to know where gold will stabilize.

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Source: Cramer's Mad Money - The Fight Over Sprint Is Just Beginning (4/15/13)