Stocks fluctuated Wednesday as the prospects for a stimulus agreement in Washington have brightened.
The Dow Jones Industrial Average was down 16 points, or 0.06%, to 28,292, the S&P 500 rose 0.08% and the Nasdaq gained 0.09%.
TheStreet's Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about media and telecom stocks including Netflix, Snap and Verizon.
Netflix: Buy Or Sell?
On Tuesday Netflix (NFLX) - Get Report missed third-quarter earnings estimates and its own guidance for new subscriptions. Netflix added 2.2 million paid subscribers in the quarter lower than the 2.5 million it projected.
Cramer said Netflix is a stock included in his 'Magnificent Seven'. "It reacts badly to the news. And people take a breath and say how do we judge this thing on one quarter when the company says otherwise. It's got pricing flexibility. You should buy the stock. They're down 6% that's a good level to buy because it will bounce right back."
Snap: Buy Or Sell?
Cramer said if you're a really young investor then Snap is good. "But people lose interest in it because it's gimmicky and they go to Instagram. Instagram is fabulous and they are rolling out good stuff all the time. Instagram Shops could be worth $50 million. You can own all of them -- Snap, Twitter Facebook and Pinterest or pick at least two if you can't have all."
Verizon May Not Be Ready for 5G
Verizon (VZ) - Get Report posted stronger-than-expected third-quarter earnings Wednesday, and lifted its full-year profit forecast, as it launches offers linked to Apple's (AAPL) - Get Report first line-up of 5G smartphones.
Cramer said Verizon is always a buy. "Because it yields 4.3%. It's got a good balance sheet. The company feels good about 5G and think they're future proof. I think 5G for Verizon is still too early which is perhaps not the case for T-Mobile."
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