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NEW YORK (TheStreet) -- On CNBC's "Mad Dash" segment, TheStreet's Jim Cramer, referred to today as "Takeover Thursday," since a number of deals popped up on Wall Street. 

Cramer, the co-manager of the Action Alerts PLUS portfolio, first took a look at Emulex (ELX) , which is up 25% following Avago Technologies' (AVGO) announcement that it will buy the company for $609 million. 

Avago Technologies is "much more than just a chip play now," Cramer said. The company relies on huge orders from a select number of customers -- like Apple (AAPL) -- and now it will have a more diversified stream of income. 

The acquisition of Emulex, a leader in network connectivity, monitoring and management products, gets Avago Technologies into a higher margin business as well. 

Shares of Avago Technologies are up 12% in response. It doesn't hurt that Avago reported earnings per share that topped estimates on Wednesday after the close. Plus it guided for higher-than-expected revenue for the second quarter. 

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Avago Technologies AVGO data by YCharts

Shares of UIL Holdings (UIL) are also jumping higher, climbing some 20% Thursday after it was announced that the Spanish utility company Iberdrola (IBDRY) will acquire it for roughly $3 billion

Cyberonics (CYBX) also moved higher on Thursday, climbing 26% on news that it will merge withSorin, an Italian medical technology company, Cramer said. 

Cyberonics also beat on top- and bottom-line earnings estimates for its fiscal third quarter. 

Cramer also highlighted that IBM (IBM) has a couple of important days ahead of it. The company will host its analyst day on Thursday. CEO Ginni Rometty will be interviewed on CNBC at 1:15 p.m. EST.

Plus, Warren Buffett, a large shareholder in IBM, speaks on Monday in an "Ask Warren" segment on CNBC's "Squawk Box." 

-- Written by Bret Kenwell

At the time of publication, Cramer's Action Alerts PLUS held AAPL.