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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday July 31.

CEO Interview: Bob Dudley, BP (NYSE:BP)

BP (BP) reported a great quarter, but it has major exposure to Russia and will be affected by potential sanctions. CEO Bob Dudley acknowledged the problems, said the company reduced its Russian exposure last year, but there are reasons for concern. "What keeps me up at night is not our position in Russia," said Dudley. When asked what does keep him up at night, he replied that safety is a major concern and the aftermath of the Macondo incident. Dudley said the legal resolutions are now more orderly, but they are not over yet. The company owns 20% of a major Russian oil company, and sanctions will cause problems. However, in spite of conflict in Iraq, production is safe and consistent there, because BP's drilling is not close to the "hot spots" in Iraq. Cramer called the CEO a "straight shooter."

There Is Not Much To Like: 3M (NYSE:MMM), PPG Industries (NYSE:PPG), Honeywell (NYSE:HON), BASF (OTCQX:BASFY), Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), Intel (NASDAQ:INTC), Kraft (NASDAQ:KRFT), Kellogg (NYSE:K), Royal Dutch Shell (NYSE:RDS.A), Exxon (NYSE:XOM), Verizon (NYSE:VZ). Other stocks mentioned: Ford (NYSE:F), GM (NYSE:GM).

The Dow tumbled 317 points, and Cramer thinks it is time to look for buying opportunities. Cramer would look to the industrials, many of which are off 10%. However, the problem with this strategy is the large Russian and Europe exposure and foreign currency. 3M (MMM) reported a terrific number, but has large overseas exposure. It is only down 5 points from its high; the stock would otherwise be tempting if it weren't for the current climate. PPG Industries (PPG) is down 14 points in a straight line, but its last quarter was successful. The cause of the turn was strong sales from Europe, and given worries, it doesn't seem like a good time to buy it. Honeywell (HON) is levered to the troubled aerospace sector, and the stock has only declined 6 points.

BASF (OTCQX:BASFY), German chemical giant, competes with Dow Chemical (NYSE:DOW). BASF gets most of its natural gas from Russia, while Dow gets this commodity from the U.S. Dow is not down that much, but it reported a terrific quarter. Cramer bought some Dow for his charitable trust because it will benefit from a potential decline it its German competitor.

Facebook (FB) has risen too much after its good quarter, and Microsoft (MSFT), Apple (AAPL) and Intel (INTC) are not low enough to buy. Drug stocks need a weaker dollar to thrive. Kellogg (K) and Kraft (KRFT) reported terrible numbers, which causes Cramer to question the flight to safety trade into food stocks. Royal Dutch Shell (RDS.A) is a good stock, but it is up too high. Exxon (XOM) has fallen, but so is its production growth. Verizon (VZ) has a good yield, but it has recently rallied. Restaurant and retails: the best are too close to their 52 week highs and the worst are too dangerous to own. "There is not much to like yet," said Cramer.

Cramer took some calls:

Ford (F) is down significantly since it reported. General Motors (GM) might be tempting when the yield gets to 3%, but for now, Cramer would wait for further declines in both automakers before buying.

CEO Sally Smith, Buffalo Wild Wings (NASDAQ:BWLD)

Buffalo Wild Wings (BWLD) sold off 14% after its strong quarter. The guidance caused many to worry that its growth is peaking. There are concerns about saturation. CEO Sally Smith discussed the new "stadium" design for many of its stores. Smith said the quarter was "phenomenal." She pointed out guidance was raised, but the stock ran up ahead of the quarter and expectations were high; "I am all about the long term," said Smith. The business is planning to expand into smaller residential areas. It has started a "guest captain" strategy to have someone in addition to the server to ensure the quality of the guest experience. Smith has noticed a marked increase in same store sales in locations that have "guest captains." BWLD is diversifying beer offerings, which drive sales. Smith says she wants to continue strong growth in the U.S., and is looking for the best locations to replicate the experience of domestic stores. The franchise model has been working well for the company.

When Can Whole Foods (NASDAQ:WFM) Be Bought?

When can Whole Foods (WFM) be bought again? Competition in the natural organic space is growing, and WFM is also competing against itself, given issues of saturation. Even after price cuts, WFM is still not charging the lowest prices. WFM is reporting good numbers, but still, by historic standards, they aren't that strong. Why pay a multiple of 25 for WFM when it has sluggish same store sales? It can be a good decision if one believes in WFM's turnaround strategies. WFM is a "show me" situation. Cramer thinks WFM needs to show at least one strong quarter before it can be considered a buy.

3 Chinese Stocks: Baidu (NASDAQ:BIDU), JD.com (NASDAQ:JD), Vipshop (NYSE:VIPS). Other stocks mentioned: Google (NASDAQ:GOOG), (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN)

Cramer hasn't been a fan of Chinese stocks, but the chatter about the Alibaba IPO prompted him to discuss 3 Chinese tech stocks he does like: Baidu (BIDU), Vipshop (VIPS) and JD.com (JD). Vipshop is the leading retailer with its winning flash-shop strategy. The stock has risen nearly 30% since Cramer got behind it in May. JD.com is like the Amazon (AMZN) of China and will see upside as internet use in the country grows. Baidu is the Google (GOOG), (GOOGL) of China and has 70% market share in China for internet search. The stock has risen an astounding $1,400% since Cramer recommended it in 2009, and its growth rate surpasses its multiple.

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Source: Cramer's Mad Money - What Keeps The CEO Of BP Up At Night (7/31/14)