Cramer's Take on Headline Stocks

(Updated with closing stock prices.)

Big banks were making headlines on Wednesday, with Bank of America(BAC Quote) receiving lower-than-expected bids for its Columbia Management business, Citigroup(C Quote) raising credit-card interest rates and Morgan Stanley(MS Quote) expanding its partnership with Mitsubishi UFJ(MTU Quote) to include a loan marketing venture.

Bank of America closed down 15 cents, or 1.1%, at $13.05; Citigroup closed flat at $2.97; and Morgan Stanley lost 15 cents to $28.36.

In earnings news, General Mills(GIS Quote) reported its fourth quarter on Wednesday morning, with earnings of $358 million, or $1.07 a share, up from 53 cents a share in the same quarter last year and beating analyst estimates for 81 cents a share.

General Mills added $2.16, or 3.9%, to $58.18 on Wednesday.

And the newspaper business took another hit with reports that publisher Gannett(GCI Quote), due to declining revenue, will cut up to 2,000 more jobs .

Gannett added 9 cents, 2.5%, to close at $3.66 on Wednesday.

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.

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