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(Updates from 10:55 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.
(CVS - Get Report) is a "great company" in a "great industry," Cramer said. He also likes Walgreen
(WAG) and Rite Aid
(RAD). CVS jumped 4.3% to $69.69.
Shares of Micron
(MU - Get Report) are headed lower on reports Hynix will have its DRAM plant running much sooner then expected. According to Cramer, this will equate to lower DRAM prices, thus hurting MU. MU dropped 4.8% to $21.81.
(URI - Get Report) "remains one of the great plays on non-residential construction in 2014," Cramer said. URI was 2.2% higher at $75.72.
The U.S. is flush with natural gas, something that should benefit Northwest Natural Gas
(NWN - Get Report)
, Cramer said. Unfortunately, the company keeps doing different equity deals, which has "got to stop," he said. NWN rose 1% to $42.70.
Merrill Lynch cut its estimates on EMC Corp.
(EMC - Get Report)
. Cramer added the "big growth" thesis has failed to play out and the company can't seem to "make as much money as we thought." EMC was flat at $23.61.
Merrill Lynch downgraded Avon Products
(AVP - Get Report)
to hold from buy, based on a longer-than-expected turnaround story. Cramer said it feels like the rating agency is giving up on CEO Sheri McCoy. AVP rose 1% to close at $17.08.
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-- Written by Bret Kenwell in Petoskey, Mich.