Cramer's Take on Headline Stocks

(Updated with stock prices.)

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The Dow and Nasdaq reversed earlier slides to close up for the day, but the S&P 500 was stilll down. Oil continued lower as well, slipping to below $61. Here are some of the stocks in the news today:

Late yesterday, Google(GOOG Quote) revealed plans to develop its Chrome OS operating system, putting it in direct competition with Microsoft(MSFT Quote). Google closed up $5.86, or 1.5%, at $402.49 on Wednesday, while Microsoft added 3 cents to $22.56.

Also late on Tuesday, Discover Financial Services(DFS Quote), in an effort to raise money to repay TARP assistance it received, offered 54 million common shares at $9.25 each. After trading up earlier today, the stock closed down 25 cents, or 2.7%, at $9.12.

In analyst ratings news, Susquehanna upgraded Amazon(AMZN Quote) to positive with a $100 price target, Credit Suisse upgraded DryShips(DRYS Quote) to outperform, ThinkEquity upgraded First Solar(FSLR Quote) to buy, and Morgan Keegan initiated coverage of Qualcomm(QCOM Quote) with an outperform rating.

Amazon added $1.73, or 2.3%, to $77.36 on Wednesday; DryShips closed up 30 cents, or 6.1%, at $5.20; First Solar gained $4.84, or 3.3%, to $149.58; and Qualcomm slipped 13 cents, or 0.3%, to $43.55.

Making TheStreet.com headlines were a technical take on smartphone stocks, including Apple(AAPL Quote); T. Boone Pickens' decision to abandon his plan to build the world's biggest wind farm in favor of multiple smaller projects; and GE's(GE Quote) debt rating.

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

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