Cramer Quick Take: Don't Buy FedEx Or Oracle Just Yet

Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".

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NEW YORK (TheStreet) -- Oracle (ORCL) and FedEx (FDX) are near their 52-week highs, but should investors be piling in?

Jim Cramer told Debra Borchardt at TheStreet.com Wednesday investors need to wait for better prices before buying either of these names.

Oracle had a great quarter and even saw a strong surge in sales in Europe. Cramer said the company continues to make its acquisitions work for it and he sees only positive things ahead for the company.

FedEx, on the other hand, is not doing as well, but in an "all that's bad is actually good" moment, weakness in Asia is now being perceived as a good thing because China's economy is on the mend.

So would Cramer be a buyer of either? He said his charitable trust, Action Alerts PLUS, sold some FedEx at $92 a share and would consider buying it back under $90 a share.

As for Oracle, Cramer said he'd wait and buy on any overall market weakness.

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-- Written by Scott Rutt in Washington.

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At the time of publication, Cramer's Action Alerts PLUS had a position in FDX.

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