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NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Friday.
Citigroup downgraded Diamond Offshore Drilling (DO - Get Report). Cramer warned investors against the stock and the sector, noting poor earnings results from Transocean (RIG) and Ensco (ESV). DO is a "sell," he advised. DO was flat at $55.83.
Cramer said Finish Line (FINL - Get Report) should do great this holiday season, especially after seeing the earnings results from Nike (NKE). He added that Macy's (M) CEO Terry Lundgren suggested FINL would have a "great quarter" as well. FINL rose 6.2% to $27.77.
Red Hat (RHT - Get Report) proved all the shorts wrong, Cramer said, by reinforcing last quarter's solid earnings report with another great quarter. The stock is surging in Friday's trading session. RHT zoomed 14.5% higher at $56.10.
Everyone expected Tibco Software (TIBX) to have a great earnings report but "the quarter was not so good," Cramer said. The company disappointed investors and failed to unlock value. TIBX dropped 10% to $22.01.
RW Baird raised its price target on Amazon (AMZN - Get Report) to $425 from $365. Cramer said everyone loves this stock and not a day seems to go by without someone saying something positive about it. AMZN ended the day up 1.8% to $402.20.
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-- Written by Bret Kenwell in Petoskey, Mich.