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(Updates from 10:45 a.m. ET with closing information.)
NEW YORK (
) -- Here's what Jim Cramer had to say on
"Squawk on the Street" Monday.
(PPG - Get Report)
sold its majority stake in lens company
for $1.73 billion. Cramer thinks PPG will use the funds to increase its buyback program. PPG rose 4.1% to $161.17.
Cabot Oil & Gas
(COG - Get Report)
. Cramer agreed, citing the company's high production growth. COG fell nearly 1% to $76.54.
(NBL - Get Report)
was downgraded by Merrill Lynch. This call Cramer did not like, saying everyone seems to think it's time to get out of the oil play. NBL fell 2.1% to $62.07.
Wells Fargo likes
Johnson & Johnson
(JNJ - Get Report)
and so does Cramer, citing strong management, cost savings and high growth in its pharmaceutical business. JNJ was unchanged at $93.21.
(CIEN - Get Report)
received a higher price target from Needham. "Telco equipment is making a comeback," Cramer said in agreement. CIEN rose nearly 1% to $21.92.
RF Micro Devices
. Cramer said it's because of the oversaturation in the smartphone market, with all of the analysts trying to get ahead of it. RFMD fell 4.2% to $5.20.
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-- Written by Bret Kenwell in Petoskey, Mich.