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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 - Get Report) 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.It's coverage day from the underwriters on CommScope (COMM - Get Report), which has already garnered six buy recommendations, Cramer said. COMM was up 6 cents to $17.02. Sears Holdings (SHLD - Get Report) are down but not because CEO Eddie Lampert is personally selling shares, but due to "redemptions of his fund," Cramer noted. SHLD dropped 8.3% to $50.92. 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.
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