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(Updates from 10:45 a.m. ET with closing information and corrects the ticker symbol for Avon Products.)
NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Friday.
Bernstein downgraded Vertex Pharmaceuticals (VRTX - Get Report) to hold from buy. "Be careful with all the big biotech," Cramer advised, and suggested taking some profits in Gilead Sciences (GILD). VRTX fell 5.6% to $67.36.
Piper Jaffray downgraded Chart Industries (GTLS - Get Report) to hold from buy. Cramer said that although he likes CEO Sam Thomas, the "shortfall is meaningful," especially after the company missed on top- and bottom-line earnings estimates. GTLS dropped 6.3% to $100.73.Yelp (YELP - Get Report) is trading well despite pricing its secondary at $67. Cramer said the "quarter was good" and investors should not "believe the critics." YELP fell 1% to $67.15. BMO downgraded Avon Products (AVD) to hold from buy. "Avon is a disaster," Cramer stated, and CEO Sheri McCoy "has to pull it out of a tailspin and quickly." AVP rose 4.4% to $18.27. Quintiles (Q - Get Report) announced the departure of a major executive and now "people suddenly hate it," Cramer said. He agreed with the upgrade to buy from hold at Robert Baird. Q was 3.4% higher to $43.43. Groupon (GRPN - Get Report) is "making a major comeback," according to Cramer, who would bet with management rather than against them. GRPN jumped 8.7% to $9.93. 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