Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".
(Updates from 10:37 a.m. ET with closing information.)
NEW YORK (
) -- Here's what Jim Cramer had to say on
"Squawk on the Street" Wednesday.
J.P. Morgan cut its estimates for
(KO - Get Report)
. Cramer suggested investors avoid the name, saying the company has "lost its edge." KO fell 1.4% to $37.43.
William Blair initiated
(CAB - Get Report)
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
(IP - Get Report)
. Cramer concurred, adding, John Faraci "is a great CEO. Don't bet against this man." IP fell 1.5% to $44.60.
(TEX - Get Report)
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.
(CIEN - Get Report)
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
(STX - Get Report)
to buy from hold and like
, should continue to do well from supply constraint, Cramer said. STX was 2.8% higher at $45.95.
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-- Written by Bret Kenwell in Petoskey, Mich.