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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday June 12.

Restoration Hardware's (NYSE:RH) Revolution

Restoration Hardware (RH) management gave its "blowout vision" on its conference call. CEO Gary Friedman described how his "misunderstood company" is changing the face of high-end retail. The company posted 18% same store sales growth and is revolutionizing the bricks and mortar and catalog business. The company is delivering high-quality products at low prices and "reinventing the model of luxury." RH has outperformed the industry for four consecutive years and will continue to do so, with accelerated revenue growth. The stock rose 12%, and Cramer thinks it would have gone higher if it weren't for Iraq fears affecting the retail sector.

The Market Despises Uncertainty. Stocks discussed: RadNet (NASDAQ:RDNT), Intel (NASDAQ:INTC)

"The market despises uncertainty, and now we have uncertainty in spades...from Iraq." The Dow tumbled 110 points. President Obama hasn't ruled out any specific option, and with worries about military operations, the market sank. If this crisis escalates, oil prices may be threatened, and a rise could create an economic slowdown. Cramer has been bullish on the airlines recently, and he still likes the consolidation in the industry, but the crisis could affect the sector negatively. While it might be an idea to buy these stocks on a decline, it is likely analysts will slash numbers in the sector. For the time being, it is better to take a wait-and-see attitude. However, it might be an idea to buy some good tech stocks on weakness, since Intel (INTC) pre-announced a strong number.

Cramer took a call:

RadNet (RDNT) is a good diagnostic imaging stock, and Cramer would stay long because of consolidation in the space.

Selling the Farm: Bob Evans Farms (NASDAQ:BOBE), Tyson Foods (NYSE:TSN), Hillshire Brands (NYSE:HSH)

Bob Evans Farms (BOBE) is a "sleepy" food stock that could split itself up and unlock value. Cramer thinks the sum of the parts might be worth more than the whole. The stock has declined 5% so far this year, and it disappointed in both its restaurant and packaged food businesses. The company reports next Tuesday, and it might get hammered on earnings, which are likely to be weak. Cramer would buy it on the decline, because an activist hedge fund, Sandell Asset Management, has been pushing BOBE to break itself up, and wants the company to spin off its packaged food business and focus on restaurants. The company could then sell off some of its land assets to raise cash.

Recently, Tyson Foods (TSN) announced it is taking over Hillshire Brands (HSH) for a premium. If BOBE fetches the same valuation as HSH, the packaged food business could be sold for $600 million, and given that this is only 30% of BOBE's business, this is a "terrific valuation." Bob Evans' restaurant business could be worth over $1.1 billion. The sum of the parts would be $1.7 billion, which would put the stock 66% higher than its current level. A franchising model would work well for Bob Evans' restaurants, and would increase cash flows.

Apache (NYSE:APA) Downgraded, but Not Down Yet. Other stocks discussed: Valero (NYSE:VLO)

Wells Fargo downgraded Apache (APA) from Outperform to Market Perform. However, the stock shrugged off the downgrade and managed to rally. Cramer thinks this is a sign that APA will climb higher. APA is a magnificent turnaround story, after it fell dramatically during the Arab Spring because of its exposure to Egypt. Since then, it has divested some foreign assets and has been concentrating more on domestic assets. Currently about 60% of its oil is produced in North America, and Egypt is only 16% of its production. APA has cleaned up its balance sheet and is returning more cash to shareholders. The company posted a 21% increase in liquids production in spite of challenging weather. With new pipelines, APA will get higher prices from its Permian oil. The company is building a liquefied natural gas facility in Australia so it can fetch high prices for natural gas in Asia. The company is buying back 10% of its shares. Its multiple is 13, which is lower than its competitors. Cramer thinks the stock easily goes to $120.

Cramer took a call:

Valero (VLO) was downgraded and the stock was up. It is a well-run company and is less than 10% from its high. Cramer thinks it can go higher.

Arista (NYSE:ANET): Not Just Another Hot Tech Stock. Other stocks discussed: Cisco (NASDAQ:CSCO), JD.com (NASDAQ:JD)

After the breakdown in the cloud sector this spring with the glut of cloud IPOs, the sector could be positive again. Arista (ANET) came public at $43 and spiked to $55 on its first day of trading. In less than a week since it came public, the stock has rallied another 20%. In the six weeks since May 1st, 8 tech IPOs have rallied an average of 17% on the first day and have risen in the aftermarket. JD.com (JD) is an example of a successful new IPO.

Arista is not a typical hot tech stock, but is a high-quality networking equipment play that makes switches. It trades at a multiple of 37 compared to a 92% growth in revenues last quarter. Arista is taking market share from established companies and has a software platform that has been successful. Arista has provided clients with an attractive alternative to Cisco (CSCO), which has been unable to fend off its smaller competitor. The company spends 26% of its sales on research and development, and its gross margins are at the mid-to-high 60% level. It could hit $1 billion in revenue in the next 3 years. Cramer would buy Arista on a decline.

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Source: Cramer's Mad Money - Restoration Hardware's Revolution (6/12/14)