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(Updates from 11:02 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.
Norwegian Cruise Line Holdings, trading as NCLH, announced a 22 million-share secondary offering. Cramer said it's a "good indicator for business" when secondaries go well. NCLH was down 1% at $33.24.
"I think that Alcatel-Lucent (ALU) is taking market share from Cisco Systems (CSCO). This is one of the big winners," Cramer said before recommending investors buy, buy, buy. ALU closed 1.6% lower at $4.35.
BP (BP - Get Report) made headlines Wednesday because the United Kingdom is urging the Environmental Protection Agency to "stop picking on" the British company involved in the gulf oil spill disaster, and allow it to buy some oil leases. "Be careful, United States, this is a big rift," Cramer warned. BP was up 19 cents to $46.77.
Credit Suisse likes Phillips-Van Heusen (PVH - Get Report) and Cramer agrees. However, he suggests investors "buy G-III Apparel Group (GIII)," which is licensed to sell PVH's products. PVH ended the day up 19 cents to $132.11.
-- Written by Bret Kenwell in Petoskey, Mich.