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(Updates from 10:42 a.m. ET with closing information.)
NEW YORK (
) -- Here's what Jim Cramer had to say on
"Squawk on the Street" Wednesday.
The U.S. Department of Justice blocked the merger between
US Airways Group
. Cramer believes the deal is completely grounded. LCC fell 1.2% to $16.17.
(CREE - Get Report)
reported disappointing earnings results. Cramer said he thought the company was having a great quarter. At some point, it becomes a buy, he added. CREE plummeted 22.4% to $58.83.
is also down after reporting earnings. Cramer said that it goes to show that not everything in mobile is working. MM dropped 18.8% to $6.90.
Marvel Technology Group
(MRVL - Get Report)
was upgraded by Barclays. Cramer said the company is doing great, but watch out for
. MRVL fell 1.5% to $13.18.
Barclays increased its price target on
(BBY - Get Report)
. Cramer noted that consumer spending has been strong. BBY rose 2.6% to $31.67.
(MSFT - Get Report)
as the number-three smartphone company, although it seems to be getting very little recognition for it, Cramer noted. MSFT was unchanged at $32.35.
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-- Written by Bret Kenwell in Petoskey, Mich.