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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday July 1.

The Mother of All Speculative Names: GlobalStar (NYSEMKT:GSAT)

GlobalStar (GSAT) is the "mother of all speculative stocks," said Cramer, because of its risk/reward proposition. It is the world's largest provider of satellite-based mobile voice and data services. The stock has tripled over the last 12 months and has rallied 140% year to date, however, Cramer thinks it is not done going higher. It has launched a new generation of satellites, and its revenue per customer increased 21%, but Cramer is not recommending the stock only for the satellite business.

GSAT has the rights to electromagnetic spectrum that could be useful at a time when data traffic is clogging up the airwaves. Many in the industry are facing congestion, and wireless players are snapping up spectrum. GSAT says it could boost U.S. wifi capacity by 33% if its network were used for terrestrial services. The spectrum GSAT has is mainly for satellite, but not for terrestrial; its spectrum needs to be re-zoned to gain benefit. Cramer thinks the rules are about to change; GSAT has been petitioning the FCC for changes, and the FCC may give GSAT to use its spectrum on Earth and not just to connect satellites. The stock has been on fire because many people do expect a change by the FCC, and the news could arrive by the third or fourth quarter.

If GSAT gets its way, it will likely partner up with wireless carriers. It could also make deals with cable companies and create apps to use its services on smartphones. It is likely that GSAT could get taken over. With the approval, Cramer predicts a 75% gain. Since GSAT is a speculative stock, Cramer urged viewers to do further research and use market orders.

6 Screaming Themes: Vertex Pharmaceuticals (NASDAQ:VRTX), Gilead (NASDAQ:GILD), Celgene (NASDAQ:CELG), Regeneron (NASDAQ:REGN), Biogen Idec (NASDAQ:BIIB), General Motors (NYSE:GM), Harman International (NYSE:HAR), Priceline (NASDAQ:PCLN), OpenTable (NASDAQ:OPEN), Netflix (NASDAQ:NFLX), IBM (NYSE:IBM), Seagate (NASDAQ:STX), Western Digital (NASDAQ:WDC), American Airlines (NASDAQ:AAL), Workday (NYSE:WDAY), Concur Technologies (NASDAQ:CNQR), Salesforce.com (NYSE:CRM), Arista Networks (NYSE:ANET), JD.com (NASDAQ:JD), GoPro (NASDAQ:GPRO). Other stocks mentioned: Sanofi-Aventis (NYSE:SNY), King Digital (NYSE:KING)

What the heck is this rally saying? said Cramer on a day the Dow jumped 129 points to yet another all-time high. "The next quarter's profits will be better than expected," is what management of companies are saying consistently. Cramer outlined some "screaming themes" that have been hot and will continue to be hot in the next quarter.

1. Biotech is back with a vengeance and the pin action is everywhere. Vertex (VRTX) is the sixth best performer in the S&P because of the strength of its cystic fibrosis medication. Gilead (GILD) has an amazing treatment for Hepatitis C, and could report monster sales. Celgene (CELG) soared and is the "cheapest big cap drug company in the universe, even after this remarkable run." Regeneron (REGN) had been underperforming on fear of competition. Sanofi-Aventis (SNY) boosted its stake in Regeneron. Biogen Idec (BIIB) is also strong. Biotech tends to roar rather than inch up.

2. Autos: Car and truck sales are rising, and General Motors (GM) has been surviving its recalls with the highest sales numbers since July of 2007. Recalls will continue, but the sentiment around GM has changed with its 9.1% increase in sales year over year, while the street was expecting only 1%. Harman International (HAR), which makes entertainment systems for cars, had a $3 move and will likely to continue going higher.

3. Internet: Priceline (PCLN) has been marking time, because people thought it paid too much for OpenTable (OPEN), but the stock rose. Goldman Sachs gave a Buy rating on Netflix (NFLX) and the stock flew 32 points after doubling since last year.

4. Old Tech: IBM (IBM) has been challenged lately, but IBM, Seagate (STX) and Western Digital (WDC), should confound the shorts.

5. Airlines: These companies are busting out and should report earnings surprises. Cramer's favorite in the group is American Airlines (AAL).

6. High Multiple Stocks are rebounding, including Workday (WDAY), Concur (CNQR), Salesforce (CRM) and Chipotle (NYSE:CMG). CMG gained 10 points on Tuesday, and it is able to pass on higher raw costs with modest price increases. Recent IPOs Arista (ANET), JD.com (JD) and GoPro (GPRO) are rallying.

These moves have not been missed as long as they are connected with strong themes.

Cramer took some calls:

King Digital (KING) had a positive research note and the stock jumped, "It is not as bad as we thought."

Gatsby versus Hospitality: Lululemon (NASDAQ:LULU), Coach (NYSE:COH), Whole Foods (NASDAQ:WFM), Panera Bread (NASDAQ:PNRA), Ralph Lauren (NYSE:RL), Estee Lauder (NYSE:EL), Brunswick (NYSE:BC), Nordstrom (NYSE:JWN), Starbucks (NASDAQ:SBUX), Tiffany (NYSE:TIF), Michael Kors (NYSE:KORS), Toll Brothers (NYSE:TOL). Other stock mentioned: Kroger (NYSE:KR)

Have rich people become frugal?" Cramer asked. In March of last year, Cramer created the "Gatsby Index" which has declined by 6% while the S&P 500 has risen. Are higher-end consumers tightening their belts? The rich are spending; the problem isn't demand, but with the stocks in the index. Lululemon (LULU) and Coach (COH) have both been crushed, and Whole Foods (WFM) is facing competition. Panera Bread (PNRA) and Ralph Lauren (RL) have been challenged. Toll Brothers (TOL) is holding up as is Estee Lauder (EL). Brunswick (BC) and Nordstrom (JWN) have seen strong performances, in addition to Starbucks (SBUX), Tiffany (TIF) and Michael Kors (KORS).

The Danny Meyer Hospitality Index, based on the idea that companies that are known for treating their customers well perform well, was formed by Cramer and restaurateur Danny Meyer during the Great Recession. This index has "left the S&P 500 in the dust," and has risen over 300 percent higher since it was formed. The hospitality concept was a proxy for execution; management that cares about customers tend to be well-run. "Execution always matters," concluded Cramer. Hospitality indicates optimal communication with customers, which creates loyalty and also is indicative of a management that cares about execution.

Cramer took a call:

"Kroger (KR) is a great idea. It is executing better than anyone in the business and is a terrific company."

Off the Charts: Freeport McMoRan (NYSE:FCX)

Cramer dedicated his "Off the Charts" segment to Justin Mamis, "The greatest chartist of our time," on the latter's retirement. A disciple of Mamis, Helen Meisler concentrates, like Mamis, on "base picking" and believes investing requires patience. One way to demonstrate this principle is to look at the chart of Freeport McMoRan (FCX), which has been trading sideways and building a base. Freeport rallied above a major downtrend line before rising up to a ceiling of resistance, not breaking it, and since then, has been holding at a floor of support. It has been stuck in a trading range, and Meisler thinks it could break above a ceiling of resistance, and the stock could break out from $36 up to $38. Meisler thinks it could pull back after running to $38 or $40, but if it goes to $41, it could break out above that level. From a fundamental point of view, Cramer thinks copper is improving and supply is declining. FCX's oil exposure is improving through acquisitions of assets, and the stock could go higher.

The Ubiquitous Starbucks

One thing Cramer observed from his trip to Europe was the ubiquity of Starbucks, and the traffic in the stores was not just from tourists. In Hungary and Vienna, the locations fit nicely into the environment. This in and of itself does not make SBUX a buy, but it shows why it merits a premium multiple.

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Source: Cramer's Mad Money - The Mother Of All Speculative Stocks (7/1/14)