Stocks were higher Thursday as economic growth in the U.S. was higher than estimates and jobless claims declined.
Gains were held back, however, by a worrying rise in coronavirus cases in the U.S. and Europe and concerns that measures to mitigate the spread of the virus could derail an economic recovery.
The Dow Jones Industrial Average rose 154 points, or 0.58%, to 26,674, the S&P 500 rose 1.24% and the tech-heavy Nasdaq was up 1.79% ahead of tech earnings from Amazon, Apple, Google and Facebook.
TheStreet's Katherine Ross discussed breaking news in the stock market. Cramer spoke about Marvell's acquisition of rival Inphi, delivery firm UPS stock and the right time to buy UnitedHealth.
Marvell: Buy Or Sell?
"Our acquisition of Inphi will fuel Marvell's leadership in the cloud and extend our 5G position over the next decade," said Matt Murphy, Marvell CEO and president. "Inphi's technologies are at the heart of cloud data center networks and they continue to extend its leadership with innovative new products."
Cramer said Inphi gives Marvell more cloud flexibility which is really good."When Marvell buys a company that has a much faster growth rate its own growth rate is pulled forward. So instead of 9-10%, it's going to grow at 12-13%. I'm a big believer in having a cloud position, a data center position and a 5G position. All three Marvell has and its a great buy right here."
UPS: Buy Or Sell?
United Parcel Service (UPS) on Wednesday delivered third-quarter earnings that well surpassed analysts' forecasts as consumers and businesses continued to turn to Big Brown to get their packages from point A to point B amid the coronavirus pandemic.
Cramer said this company has had a shortfall in December. "But Carol (CEO) guaranteed there will be no shortfall. Just imagine the level of confidence she must have which is based on facts. When you get a situation where this company gets a really confident CEO and they don't have anything you're not going to make it in the first quarter. This wasn't a key quarter but it is a chance to buy."
UnitedHealth: Buy Or Sell?
UnitedHealth (UNH) posted stronger-than-expected third-quarter earnings two weeks ago, and boosted its full-year profit forecast, as its Optum division continued to pace gains for the health care provider.
Cramer said to wait till after the presidential election results are declared to buy UnitedHealth. "Buy it if we get a blue wave."
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