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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Wednesday June 11.

Gridlock Is Good. Stocks discussed: Boeing (NYSE:BA), Regions Financial (NYSE:RF)

The Dow plunged 102 points on the headline of Virginia Republican Congressman Eric Cantor's defeat. Most big declines in the past few years, said Cramer, have been caused by Washington, either through actual events or fears. "Every time one of these politicians grabs a microphone," stocks tend to decline. However, the gridlock prevents legislation from being passed, which often is good for the market. With a lack of earnings news, this event affected stocks more than it would have otherwise. There doesn't seem to be a direct relationship between Cantor's defeat and the stock market, but stocks fell all the same. Cramer would use the pullback to buy good stocks on decline.

Cramer took some calls:

Boeing (BA) does better when oil goes up slightly, because airlines buy new planes. The company has a healthy backlog, and the stock's level is a buying opportunity.

Regions Financial (RF) is better than it used to be and in fact, is doing well.

The Return of Micron (NASDAQ:MU)

Micron (MU) was upgraded from "Sell" to "Buy" by a Merrill Lynch analyst. The bearish argument was that the DRAM business is a boom and bust industry and the product is commoditized. Cramer has been bullish on Micron, but acknowledged that increased capacity is an ongoing issue. So what has changed?

There used to be many competitors in the DRAM business prior to the Great Recession, and Micron was able to buy up failing companies during the economic crisis. Because there haven't been the kind of supply issues the market feared, Micron has seen upside, and prices are rising for the chips while costs are going down.

Cramer took a call:

Hexcel (NYSE:HXL) is going down with Boeing, but is a long-term play and a part of the aerospace bull market.

GNC Holdings (NYSE:GNC) vs. Vitamin Shoppe (NYSE:VSI). Other stocks mentioned: J.M. Smucker (NYSE:SJM), R.R. Donnelley (NASDAQ:RRD), Avon Products (NYSE:AVP)

There is an "epic clash" between GNC Holdings (GNC) and the Vitamin Shoppe (VSI). Given the performance, one would think they both reported terrible quarters, with GNC's 15% tumble and VSI's 5% drop. GNC is the one not doing well; VSI crushed Wall Street's expectations, but because GNC is the larger player and reported the day before, the pin action was vicious. GNC is struggling to execute, reported 2 bad quarters in a row and is down 38% for the year. VSI is a broken stock, and not a broken company, and is being held back by the weaknesses of its competitor.

GNC used to be an incredible performer with same store sales in excess of 5%, while now it is reporting sales decline. VSI reported a 3.6% increase in same store sales. It is down 10 points from its high and may be providing a buying opportunity. VSI's revenues are double digit, and it has a diverse mix of products. GNC has been hurt by its large amount of diet products, and that segment has been hit lately. VSI is increasing its private label offerings, which has a positive impact on gross margins, and the company is making acquisitions that will allow it to vertically integrate. It sells at a multiple of 15 with a 14% growth rate. "VSI is a buy," said Cramer. GNC is in the penalty box until management can deliver a good quarter.

Cramer took some calls:

J.M. Smucker (SJM) reported a decent quarter, and there is so much consolidation in the sector that Cramer would not sell it.

R.R. Donnelley (RRD): Management is reinventing the company, and Cramer wants to talk to the CEO. "It has come down 20% and has a 6.4% yield. We want to do more work on that."

Avon (AVP): "I don't like it so much. There are still some structural problems there. I don't want to touch it."

CEO Interview: Bill Cobb, H&R Block (NYSE:HRB)

H&R Block (HRB) is the largest tax preparer in the U.S. and reported a 6 cent earnings beat on revenues that rose 16%. The stock rallied 4.6% on a rough day for the market. The company is selling off its internal business bank, a move that gets it out of the bank holding company category; HRB will now be allowed to return more cash to shareholders. The stock rose 6% since Cramer recommended in January. The "layer of complexity" provided by the Affordable Care Act has been a driver of H&R Block's business; "We understand this better than anybody," said CEO Bill Cobb. The company will have a billion dollars in excess capital from the selling off of its business bank and saved cash for a total of $2.2 billion in cash, and it has recently raised the dividend.

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Source: Cramer's Mad Money - Gridlock Is Good (6/11/14)