Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".
(Updates from 10:48 a.m. ET with closing information.)
NEW YORK ( TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Wednesday.
Cramer was concerned about the sudden rise in United Parcel Service (UPS - Get Report). "Look out," Cramer said -- this could be like FedEx (FDX) where the upward price action was a "dead-cat bounce." UPS fell nearly 1% to $86.98.Wells Fargo says Six Flags (SIX - Get Report) is a buy. Cramer agrees, citing the strong dividend and the ability for most companies to bounce back from one-time, tragic events such as the death of a rider at a Six Flags rollercoaster in Texas. SIX rose 1.7% to $36.79. Juniper Networks (JNPR - Get Report) was upgraded by Topeka Capital. Cramer said the company is doing better with higher carrier spending. Whether that continues will remain the biggest question in the second half of the year, he said. JNPR was up 1.5% to $21.66. Coach (COH - Get Report) has moved much higher this year and Cramer doesn't want to bet against the "renewed and smarter" company. COH was unchanged at $59.36. Bank of America downgraded Norfolk Southern (NSC - Get Report) to underperform from neutral. Cramer called the railroad an earnings outlier compared to Union Pacific's (UNP) and CSX's (CSX) good earnings reports. NSC ended the day 2.9% lower at $74.66. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell