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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Wednesday August 3.

CEO Interview: Michael Johnson, Herbalife (NYSE:HLF)

Sometimes the best way to sell is through direct sales. Herbalife (HLF) CEO Michael Johnson calls this "passion marketing," when users of a product get so enthusiastic about the results they want to share their success with others. Herbalife has 2.3 million part-time distributors worldwide, and is an emerging market play, with only 20% of revenues coming from North America. Herbalife reported a 5 cent earnings beat, a revenue rise of 27%, even in the face of challenging comparisons. The company saw record volumes and issued upside guidance for the next quarter and the full year. Shares have risen 199% since November 2009, and the stock isn't done, said Cramer.

In just one quarter, Herbalife substantially increased its volume growth thanks to momentum. Sales in emerging markets are up double digits, and the company is promoting its products through sponsorship of the World Football Challenge and cycling events. "You have made fortunes for our viewers," Cramer said. "This is perhaps the best-performing stock we have ever talked about."

Darden (NYSE:DRI), Apple (NASDAQ:AAPL), Deckers (NYSE:DECK), Clorox (NYSE:CLX), OpenTable (NASDAQ:OPEN)

What caused the Dow to rebound after its 160 point drop to finish Wednesday up 30 points? The decline in oil prices. When oil goes down, stocks go up. Oil broke down past its seemingly impenetrable level of around $93. Cramer doesn't think oil is done going down, especially with new supply in the U.S. The last time oil dipped, restaurant stocks were the first to recover, and lower prices at the pump is good news for Darden (DRI). Companies that use packaging, much of which is petroleum-based, will see their raw costs go down. China might stop raising interest rates. Momentum stocks, like Apple (AAPL) and Deckers (DECK), will continue their upward move. "If oil keeps going down," said Cramer, "it will be almost better than tax relief."

Cramer took some calls:

Clorox (CLX) could get taken over at a higher price. The bad quarter shows management doesn't have a handle on the company and it should be run by another company. "We could see a substantial bid. I'm not losing heart with Clorox."

OpenTable (OPEN) illustrates the principle that stocks that live by momentum die by momentum. While Cramer thinks OPEN might bounce back down the line, its momentum story is over for the time being.

CEO Interview: David Pyott, Allergan (NYSE:AGN)

In a difficult market, pharma is usually a flight to safety, but in this environment, even pharma stocks are getting hit hard. The exception is Allergan, the producer of Botox, eyelash enhancers, breast implants and dermal fillers. The company was once regarded primarily as a vanity play, but it is finding new medical applications for Botox and has a thriving glaucoma treatment. The company is up 3.1% after beating earnings by a penny, reporting revenue growth of 13% and a gross margin increase of 160 points. The stock has nearly doubled, up 98%, since Cramer got behind it in February 2009. Cramer thinks the stock has further to run.

David Pyott discussed the success of Allergan's glaucoma treatment, with sales up 11%. "Even in turbulent economic times the power of innovation wins especially with well differentiated products," he said. The company is developing a treatment for hair loss in men and women and should obtain approval for Botox as a treatment for overactive bladder by the end of the year. Botox as a migraine treatment is already reaching wide acceptance. "This is a company that comes up with new products and creates their own markets," Cramer said. "They will continue to make money."

CEO Interview: John Richels, Devon Energy (NYSE:DVN)

While other domestic oil and gas companies have seen gains, Devon (DVN) has still been left behind. In fact, it is down 4% since last year and is 18% off its 52-week high. The company shed $10 billion of its assets as it has changed its focus from exploration to onshore development and has used the cash to buy back stock. The company is 67% levered to natural gas, but it is in the process of becoming more oil-based. Devon reported a 16 cent earnings beat on a 23% increase in revenues. John Richels discussed the company's generous buyback and the use of 3-D technology to find oil. When asked if he thinks Washington will adopt natural gas, Richels thinks the company is making "a bit of headway...but the Administration has a different world view" on how to cope with the issue of fossil fuels. He sees great possibility in the Utica shale as a place to produce large amounts of oil and create jobs.

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Source: Cramer's Mad Money - Herbalife Is the Best-Performing Stock I Have Discussed (8/3/11)