NEW YORK ( TheStreet) -- TheStreet's Jim Cramer is with Debra Borchardt, answering the top questions from his Twitter feed.
The deal is worth $10 billion, and Cramer said it made sense to pay this much for a company currently doing $2 billion in sales.
He added that Amgen used to be a great innovator and this deal will allow it to become a great biotech company again.NASDAQ OMX Group (NDAQ - Get Report) continues to experience some fallout from last week's three-hour trading halt on its Nasdaq exchange. "Nasdaq shut everybody down," said Cramer. "They basically said, 'Listen, what we did was good for retail, and being transparent was a mistake there,' and they got unchallenged, and all I can say is, 'Wow, they pulled it off again.'" The Securities and Exchange Commission said it would look into testing some of the trading systems, but it did not mention anything about high-frequency trading, Borchardt said. Cramer said you can't say anything negative about high-frequency trading, because if you do, "You run the risk of wrath." He also said: "I don't think that high-frequency trading is a good thing, but ... they'll just say, 'Hey listen, how can you say that? You're against innovation; you're against financial engineering.' I am against things that hurt retail investors, but Nasdaq said what they did was pro retail investor, so I'd like to know more why that is, but that's what they said." -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in the stocks mentioned.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts