Cramer's 'Stop Trading!': Devon, Transocean

NEW YORK (TheStreet) -- "There so much going on today," said Jim Cramer on Wednesday's "Stop Trading!" segment on CNBC.

CEO Michael Thaman "did a great job with Owens Corvning(OC Quote)," said Cramer. "It's been the toughest market in the world for him." Cramer said that Owens Corning "is not my stock," but it's had a "major comeback" and is a "great company."

Transocean(RIG Quote) "should be bought," Cramer said. "I think that people are dead wrong to sell this one down." He said that a lot of its problems in the most recent quarter were one-time issues and would be solved. "Plus, I think oil's going down. I actually have been positive about the drillers."

And Devon(DVN Quote), which Cramer owns for his Action Alerts PLUS charitable trust, reported much better-than-expected earnings and isn't done going up, he said. Like with XTO(XTO Quote) and Apache(APA Quote), "the growth here is monumental," Cramer said. "These companies are drilling like mad."

-- Written by Rebecca Corvino in New York.