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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday May 10.

Hospitality Index: Whole Foods (WFM), Chipotle Mexican Grill (CMG), Goldman Sachs (GS), Apple (AAPL), Dreamworks (DWA), Southwest Airlines (LUV), Amazon (AMZN), Google (GOOG), eBay (EBAY), Men's Wearhouse (MW), Brown-Forman (BFA), American Express (AXP), Salesforce.com (CRM), Costco (COST). Other stocks mentioned: Las Vegas Sands (LVS), Akamai (AKAM), Cisco (CSCO)

In 2009, during the depths of the recession, Cramer talked with Danny Meyer, restaurateur and author of Setting the Table: The Transforming Power of Hospitality in Business about the Hospitality Quotient; the theory that companies that focus on treating their customers and employees well tend to perform better. In 3 years, the Hospitality Index Cramer and Meyer formed returned 257% compared to just 65% for the S&P 500. Investors who devoted $5,000 to this index saw a return of $48,000 in just 3 years. The only stock in the index to underperform the S&P 500 was Dreamworks (DWA), which Meyer suggests replacing with Salesforce.com (CRM), since it enables companies to communicate more effectively with customers. Southwestern Airlines, (LUV) the second worst performer, still returned 127%. The top performers were Whole Foods (WFM), Chipotle Mexican Grill (CMG) and Apple (AAPL), in that order. Other honorable mentions include Goldman Sachs (GS), Costco (COST), Amazon (AMZN), Google (GOOG), eBay (EBAY), Men's Wearhouse (MW), Brown-Forman (BFA) and American Express (AXP).

Cramer took some calls:

Las Vegas Sands (LVS) is under pressure, along with other casino plays, but Cramer is a buyer, not a seller.

Akamai (AKAM) got hit along with other tech stocks on news of slow sales from Cisco (CSCO), and its decline is not a reflection of the company's performance.

Toll Brothers (TOL), Pulte (PHM), D.R. Horton (DHI), Cisco (CSCO), Weyerhaeuser (WY), Masco (MAS), Dupont (DD), Wells Fargo (WFC), USBancorp (USB), Fannie Mae (OTCQB:FNMA), Time Warner (TWX), Macy's (M), Bed Bath and Beyond (BBBY), Ross Stores (ROST), Home Depot (HD), Sony (SNE), Green Mountain Coffee Roasters (GMCR), Starbucks (SBUX), Dunkin Brands (DNKN), Ford (F)

With Cisco's disappointing news about a slowdown in orders, the entire tech industry was hit. The misery in Europe is not slowing down, so Cramer focused on what is working domestically: housing. Toll Brothers' (TOL) stock has increased 31% so far this year, and Pulte (PHM) and D.R. Horton (DHI) are marching higher. Weyerhaeuser (WY) and Masco (MAS) have reported strong sales, and Dupont (DD) may rise on demand for paint. While international banks are doing poorly, Cramer would consider buying Wells Fargo (WFC) and US Bancorp (USB), which are levered to mortgages and have no international exposure. The fact that Fannie Mae (OTCQB:FNMA) is turning a profit is encouraging, and for recent homeowners who need new cable plans, Time Warner (TWX) works as an indirect housing play. The purchase of home goods will stimulate Macy's (M), Bed Bath and Beyond (BBBY), Ross Stores (ROST) and Costco, which just reported a dividend raise. Home Depot (HD) has been facing headwinds that might turn into tailwinds.

Cramer took some calls:

Sony (SNE) does not seem to have a bottom in sight, and Cramer would avoid this stock.

Green Mountain Coffee Roasters (GMCR) is no longer a growth stock and is dangerous, even at these low levels. Cramer would buy Starbucks (SBUX) or Dunkin' Brands (DNKN) instead.

Ford (F) may be performing well in the U.S., but it is levered to Europe and Latin America, which are performing poorly. Cramer would not buy Ford.

CEO Interview: Richard Popps, Alkermes (ALKS)

Alkermes (ALKS) is a biotech company that improves existing drugs and develops new treatments. Its diabetes drug only needs to be injected once a week, while other treatments required twice daily injection. CEO Richard Popps explained that Alkermes, with a $2.5 billion market cap, is just the right size; large enough to develop products effectively, but small enough that it is streamlined and efficient. While marketing to compete against larger pharma companies is a challenge, Alkermes finds ways to spread awareness among doctors and treatment centers. The company has a drug for schizophrenia in Phase III trials. Cramer thinks Alkermes is a good speculative play and warned that while the stock may rise and fall, it is worth buying on a decline because of its substantial pipeline.

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Source: Cramer's Mad Money - The Hospitality Index Revisited (5/10/12)