Cramer's Take on Headline Stocks

(Updated with stock prices, Bank of America news and video.)

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NEW YORK (TheStreet) -- Regardless of why a stock is in the news, it never hurts to hear what a professional investor has to say about it. The key is to gather as much information as you can in order to make the most informed investment decisions you can. As Jim Cramer often reminds, investors must do their homework.

So what has Cramer had to say lately about today's headline-makers? At Stockpickr, we've combed through his recent RealMoney blog posts, "Mad Money" TV show recaps and "Stop Trading!" segments to find out what he thinks about some of today's newsworthy stocks, including CIT(CIT Quote) and Caterpillar(CAT Quote).

Bank of America(BAC Quote): U.S. District Judge Jed Rakoff is seeking more information about charges that BofA misled investors regarding executive bonuses before he approves the $33 million settlement BofA has agreed to pay the SEC.

In a video filmed today, Cramer had this to say about the BofA news:

Here Comes the BofA Judge

To read more, visit Stockpickr.com.

-- Written by Rebecca Corvino in New York.