Wells Fargo said Gilead's Hepatitis C drug, Solvadi, will do better than expected. That research note gave shares a slight boost on Tuesday and could help reverse the stock, which has declined precipitously since March, Cramer said.
Getting long Gilead Sciences is not "a fool's errand" and growth stocks may be beginning to stabilize at current levels, he added.
Turning to Michael Kors (KORS), he was "a little nervous" about a rally higher from current levels.
While he admitted to liking Michael Kors, Cramer said there is a "tug of war" between bulls and bears, making it difficult to interpret which way the stock will go.He said the company's lack of disclosure and clarity is not helping the situation, as pointed out by TheStreet's Herb Greenberg. -- Written by Bret Kenwell in Petoskey, Mich.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV