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(Updates from 10:37 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.
J.P. Morgan cut its estimates for Coca-Cola (KO). Cramer suggested investors avoid the name, saying the company has "lost its edge." KO fell 1.4% to $37.43.
William Blair initiated Cabela's (CAB) with a hold rating. Cramer agreed, noting this is where people buy guns. CAB dropped 1.9% to $62.54.Jefferies said not to worry about International Paper (IP). Cramer concurred, adding, John Faraci "is a great CEO. Don't bet against this man." IP fell 1.5% to $44.60. Terex (TEX) is one of the best ideas at Morgan Stanley. Cramer said he and others like the contrarian call. TEX rose 1.4% to $34.41. "Ciena (CIEN) has been the best telco play," Cramer said, adding that he is shocked by the way the stock continues to move higher. CIEN was unchanged at $25.60. Pacific Crest upgraded Seagate Technologies (STX) to buy from hold and like Micron (MU), should continue to do well from supply constraint, Cramer said. STX was 2.8% higher at $45.95. 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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