Cramer's Take on Headline Stocks

(Updated with stock prices.)

Apple's(AAPL Quote) upping its stake in U.K.-based Imagination Technologies to 9.5% from 3.6%, according to a statement. Imagination is responsible for some of the graphic and video components of Apple's iPhone. Intel(INTC Quote) also increased its stake in Imagination recently.

Apple closed up $2.58, or 1.8%, at $142.44 on Friday, while Intel slipped 2 cents to $16.29.

KB Home(KBH Quote) missed earnings expectations in its second quarter but narrowed its loss year-over-year. The homebuilder lost $78.4 million, or $1.03 per share, compared with 72 cents a share expected by analysts. In the same quarter last year, the company lost $255.9 million, or $3.30 per share.

Lennar(LEN Quote), which reported its earnings yesterday, lost $125.2 million, or 76 cents a share, but saw a completed-home sales rise 47% and orders rise 63% in the first quarter.

KB Home lost $1.35, or 9.1%, to close at $13.42 on Friday, while Lennar closed down a penny at $9.18.

Financials were mixed following Commerce Department report that consumers are saving money amid continuing economic concerns. Bank of America(BAC Quote) added 40 cents, or 3.2%, to $12.75; MasterCard(MA Quote) gained $4.63, or 2.8%, to close at $168.91; and Citigroup(C Quote) closed flat for the day at $3.03.

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

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