Cramer's Take on Headline Stocks

Crude oil was rising again on Wednesday, lately up at about $70.58, and oil stocks were following its lead, including Chevron(CVX Quote), up 1.2% to $71.01, BP(BP Quote), up 29 cents to $52.25.

Soleil upgraded Yahoo!(YHOO Quote) from hold to buy with a $20 price target, citing the company's potential benefit from a rebound in online advertising.

Citigroup(C Quote) announced that it will convert about $58 billion in preferred stock into common stock in an effort to improve its balance sheet.

According to the Wall Street Journal, the Department of Justice might be considering blocking or revising the terms of a Google(GOOG Quote) settlement that allows it to scan and post books online.

With this in mind, we thought we'd take a look at what Jim Cramer's had to say about some of the stocks in the news lately.

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