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Reviewing the Large-Cap Fave Troops

Originally published March 28 at 10:54 a.m. EST

Allergan

(AGN) - Get Report

continues to plot a nice course despite today's general weakness in biotech.

This year AGN shares have experienced higher lows and higher highs -- a good thing. Hopefully a break above $250 a share could help to move the stock closer toward my year-end objectives this summer/early fall.

The company's fundamentals remain strong based on a recent review I undertook.

AGN remains my favorite large-cap long for 2017. ( Caterpillar (CAT) - Get Report is my favorite large-cap short!)

Speaking of faves...

Last year's favorite large-cap long, DuPont (DD) - Get Report , is now trading above $81 a share (I placed DD on my Best Ideas List in late January 2016 at $52.87). I am now down to tag ends on the name as the reward versus risk is no longer attractive.

Position: Long AGN large, DD small; short CAT small .

Oclaro (OCLR) - Get Report , the object of discussion in my Diary recently, continues to trade up with all its collaterals/competitors after the recent conference, which indicated that business fundamentals are on solid footing.

Clarity on Oclaro

Originally published March 28 at 1:50 p.m. EST

As I previously mentioned, Finisar (FNSR) - Get Report has told the sell side on several occasions that there is not likely to be an imminent takeover.

Other broad-based opticals-related tech companies like Lumentum (LITE) - Get Report and/or Acacia Communications (ACIA) - Get Report seem to be more likely takeover candidates in the next 12 months than OCLR.

Position: None .

Action Alerts PLUS, which Cramer manages as a charitable trust, is long AGN.