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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Wednesday August 22.

The Most Dominant Financial Institution In the World: Banco Santander (SAN). Other stocks mentioned: Toll Brothers (TOL), Williams Sonoma (WSM), Dell (DELL), Apple (AAPL), Google (GOOG), Amazon (AMZN), Paychex (PAYX), Manpower (MAN), Dell (DELL), Sherwin Williams (SHW)

Many stocks are "tells" on their industry or on the health of the market as a whole. Great results from Toll Brothers (TOL) and Williams Sonoma (WSM) are enough to make investors feel better about the housing and the housing retail space. Dell's (DELL) poor results didn't sour the entire tech industry, but it put a damper on confidence. While Apple (AAPL), Amazon (AMZN) and Google (GOOG) are tech gauges, they tend to be "ephemeral bellwethers," and may often indicate day to day mood swings of The Street more than the health of their own companies or of tech in general.

However, there is one stock that should indicate where the market is going for the next 10%, whether it is up or down: Banco Santander (SAN), Spain's premier bank. The recent rally in the S&P 500 was all about easing fears over Europe, and SAN has been moving gradually up since late July, from $4.48 to nearly $7. The bank is actually making money with its bond auctions. As a barometer of Europe, SAN "might be the most dominant financial in the world today," said Cramer. If Germany comes to the rescue of Europe, SAN could see $10.

Cramer took some calls:

Paychex (PAYX) is a stock Cramer prefers to Manpower (MAN).

Sherwin Williams (SHW) is going higher.

CEO Interview: Doug Tough, International Flavors and Fragrances (IFF)

International Flavors and Fragrances (IFF) creates flavors and fragrances that enable consumer goods companies to make their products distinctive and to gain a competitive edge. The company is also benefiting from growing health-consciousness, as companies are searching for innovative ways to retain the flavors of their signature products while reducing fat, sugar and salt. IFF beat earnings estimates by 5 cents, but revenue was light due to currency issues and commodity prices. CEO Doug Tough says it is important to IFF to be sensitive to customers' concerns about pricing, so while there were mild losses when commodity prices were high, raw costs are reversing, which should help IFF. The company increased gross margins by 210 basis points, and has been expanding aggressively, building laboratories worldwide. A full 48% of revenues come from emerging market countries, and while IFF has significant exposure to Europe, Doug Tough said that business on the Continent did not slow significantly. Cramer thinks IFF is "a terrific company with breakout numbers."

3 Fantasy Football Stock Picks: Bristol Myers (BMY), AT&T (T), Nike (NKE). Other stocks mentioned: Starbucks (SBUX), eBay (EBAY), Discover (DFS)

Cramer continued his series on fantasy football stock picks with Bristol Myers (BMY), AT&T (T) and Nike (NKE). Other stocks mentioned: Starbucks (SBUX), Ebay (EBAY), Discover (DFS)

Bristol Myers (BMY) is a steady performer, but it has had some significant challenges lately. Its leading drug, Plavix, fell off the patent cliff, and there are rumors that its Hepatitis C drug might have unhealthy side effects. None of these side effects has been proven, and in addition, BMY's stock was punished following an acquisition. For all of these reasons, the stock has fallen 10%, but Cramer would use the decline, which he calls "unnecessary roughness," as a buying opportunity.

AT&T (T) plays defense with its 4.8% yield and improving margins. Nike (NKE) is a leading global brand, but the stock got crushed after it missed earnings estimates. Nike and AT&T have a great long-term stories, and both stocks are worth "recruiting" for a portfolio.

Cramer took some calls:

Starbucks (SBUX) has been hit hard, but it should make another comeback.

eBay (EBAY) is a buy because of Paypal, and its joint venture with Discover (DFS) should be huge.

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Source: Cramer's Mad Money - The Most Dominant Financial Stock In The World (8/22/12)