Cramer's Take on Headline Stocks

Making Thursday's headlines and sending stocks lower were reports that June saw the loss of 467,000 more jobs. This compares with 322,000 jobs lost in May and was about 100,000 more than expected, hiking up the unemployment rate to 9.5% from 9.4%.

Across the board, stocks were in the red, with Bank of America (BAC) losing 1.3% to $12.88, Apple(AAPL Quote) down 1.6% to $140.60 and Freeport-McMoRan(FCX Quote) losing 1.1% to $50.

Exelon(EXC Quote) was slipping 3.2% to $49.91 after upping its bid for NRG Energy(NRG Quote) to 54.5 cents a share from 48.5 cents initially, giving the deal a total value of about $7.4 billion.

On the other hand, Elan(ELN Quote) was surging 14.3% to $8 following the announcement of a $1 billion investment from Johnson & Johnson (JNJ).

In analyst ratings news, Morgan Stanley initiated coverage of Delta Air(DAL Quote) with an overweight rating and a price target of $9. The firm expects the airline company to report negative earnings in 2009 of 69 cents per share.

JPMorgan downgraded First Solar(FSLR Quote) to neutral from overweight but raised its target on the stock to $140 from $92.

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

To read more, visit Stockpickr.com.