Cramer, the co-manager of the Action Alerts PLUS portfolio, cited a report by Aram Rubinson, managing director at Wolfe Research, which highlighted bullish themes at Amazon.
Rubinson pointed out the company's subscriptions service, Amazon Prime, is wildly profitably, and if it were paid out in the form of a dividend, it would result in a 3.8% yield. The company is focused on increasing profitability, and last quarter's surprise profit was not a one-time phenomenon.
On FedEx (FDX) , Cramer pointed out that the stock was upgraded from neutral to outperform by Credit Suisse and its price target was increased from $177 to $203.
The stock has been trading sideways for the past few months, Cramer said, and Credit Suisse sees good results coming in FedEx's upcoming earnings report.
The company's U.S. ground network is a high-margin business and likely did well in the recent quarter. If the company's ground business did do well, it could boost gross margins for the quarter, Cramer explained.
"I love this call," Cramer said of Credit Suisse's report.
-- Written by Bret Kenwell
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.