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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday May 23.

Hewlett-Packard (NYSE:HPQ) and ChannelAdvisor (NYSE:ECOM), Dell (NASDAQ:DELL)

Hewlett-Packard (HPQ) and new IPO ChannelAdvisor (ECOM) are both tech stocks that closed up on Thursday, but they are dramatically different companies. Many were worried HPQ's quarter would be a disaster after Dell's (DELL) disappointment, but HPQ's results were positive. Cash flow was strong and the balance sheet is solid. While HPQ is not growing revenues, it is a cash cow with a dividend. ChannelAdvisor (ECOM) rose 32% the first day of its IPO, even though management said, "our operating expenses will increase significantly, which may make it more difficult to achieve profitability." However, investors buy ECOM for different reasons than they might buy HPQ. ECOM may lack profits, but it has dramatic accelerated revenue growth.

Hewlett-Packard, American Electric Power (NYSE:AEP), Michael Kors (NYSE:KORS)

The Dow swooned on volatility in Japan and sluggish data from China, only to recover and close Thursday down just 13 points. Cramer doesn't think the mixed messages from the Federal Reserve on Wednesday caused stocks to open down, because there was no definitive bearish view on Ben Bernanke's statements. While fundamentals of individual companies are strong, two areas of the economy that affect hiring, small business growth and commercial real estate, are still not moving, and it seems unlikely the Fed will abandon its bond buying in the near future. Housing stocks, biotech and technology stocks were strong, the latter sector buoyed by better than expected numbers from Hewlett-Packard (HPQ). American Electric Power (AEP) closed down 54% because of a computer glitch. Cramer thinks this is a strong argument for using limit orders to guard against unexpected drops.

Cramer took some calls:

Michael Kors (KORS) can be held through earnings, but Cramer would buy July 50 calls to protect against downside.

CEO Interview: Jack Koraleski, Union Pacific (NYSE:UNP)

Cramer has been bullish on the railroad industry because of its substantial profitability, limited competition and low share prices. With the oil and gas drilling boom and the increase in automobile construction, Union Pacific (UNP) should continue to perform well. The stock has given a 120% return since Cramer got behind it in 2010 and is up 11% since Cramer spoke to CEO Jack Koraleski 2 months ago. Since there are not enough pipelines to transport oil and gas in the U.S., UNP's services are essential to the fuel industry. Even if the Keystone pipeline is built, UNP will be needed to transport pipes and other materials for the major project.

UNP plans to double its transport of autos from Mexico in the coming years. Trucking does not pose a threat to UNP, since the company works with trucking companies in a joint effort to transport goods. Two weak areas for UNP have been agriculture and coal. The former weakness was due to the drought, and Koraleski says that if this summer's weather patterns are normal, there should not be problems. Coal has been in general decline, but this seems to be reversing itself somewhat. As natural gas prices rise higher, many clients are switching back to coal. In fact, coal inventories this year are below the levels of last year. Koraleski says the economy seems strong, based on demand for the products UNP transports; most segments are up 2-3% for the year. "Do you see why I always tell you UNP is the best?" said Cramer.

CEO Marc Benioff, Salesforce.com (NYSE:CRM). Other stocks mentioned: Home Depot (NYSE:HD), SAP (NYSE:SAP)

Salesforce.com (CRM) is the "king of the cloud" and has given investors a 700% gain since Cramer got behind the company in 2008. CRM reported in-line earnings, better than expected revenue, and guidance equaled the street's expectations. "We are coming close to our first billion dollar quarter," said CEO Marc Benioff. Home Depot (HD) reported successful earnings, and has used CRM to connect more closely with customers through mobile and social applications. The American Red Cross uses CRM's software, which helped the non-profit execute more efficiently in the rescue of the victims of Oklahoma's tornado. CRM's products were used in the last presidential campaign, and the company just closed a major deal with the Japanese government; "Japan has become our largest customer," although the deflation of the yen is a challenge. Salesforce has bested SAP (SAP) as the world's leading CRM provider, thanks to the strength of the core business and acquisitions. The company saw 30% revenue growth year over year and deferred revenue of $5 billion. Cramer is bullish on Salesforce.

CEO Interview: Frank Semple, MarkWest Energy Partners (NYSE:MWE)

MarkWest Energy Partners (MWE) is an MLP with a 4.8% yield. The company may raise its distribution by an annual rate of 10% per year. The stock has risen 44% since Cramer last spoke to CEO Frank Semple. Since 2009, MWE has risen 1,210% compared to the S&P 500's gain of 103%. MWE has a large footprint in the Marcellus and Utica shales and has completed 9 major projects in the Marcellus in the last 6 months. The company is ramping up hiring aggressively and is in the "early innings" of the domestic fuel revolution."We've been behind MWE all the way, and you should be too."

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Source: Cramer's Mad Money - The Difference Between Hewlett-Packard and ChannelAdvisor (5/23/13)