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(Updates from 10:45 a.m. ET with closing information.)
NEW YORK ( TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Monday.
PPG Industries (PPG) sold its majority stake in lens company Transitions Optical for $1.73 billion. Cramer thinks PPG will use the funds to increase its buyback program. PPG rose 4.1% to $161.17.
Oppenheimer upgraded Cabot Oil & Gas (COG). Cramer agreed, citing the company's high production growth. COG fell nearly 1% to $76.54.Noble Energy (NBL) 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) and so does Cramer, citing strong management, cost savings and high growth in its pharmaceutical business. JNJ was unchanged at $93.21. Ciena (CIEN) received a higher price target from Needham. "Telco equipment is making a comeback," Cramer said in agreement. CIEN rose nearly 1% to $21.92. Barclays downgraded RF Micro Devices (RFMD). 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. 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
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