Stocks have slipped from their Federal Reserve-induced highs, which prompted TheStreet's Jim Cramer to look for something positive on Friday's CNBC "Mad Dash" segment. 

He found it in the earnings reports of two companies, Red Hat (RHT) - Get Report  and Lennar(LEN) - Get Report .

Red Hat shares are higher after the tech company beat on earnings-per-share estimates although it missed revenue expectations. Guidance for next quarter was higher than analysts had expected for both metrics.

This is an "extraordinary story" from a cloud-based subscription company, said Cramer, the co-manager of the Action Alerts PLUS portfolio.

The company's partnership with Microsoft (MSFT) - Get Report is also helping. Cramer pointed out that Microsoft caught an upgrade from Goldman Sachs analysts, who were previously bearish. 


Red Hat RHT and Lennar LEN data by YCharts

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Lennar also topped earnings estimates and reported "some really good double-digit stuff," Cramer said. "Orders were great," climbing 10%, as were deliveries, which also rose 10%, he said.

"Lennar is the best of the homebuilders," he said, and the company "tells a very, very positive story." 

But Lennar shares are down nearly 4% so far Friday. For that reason, Cramer advised investors to wait for the company's conference call. Although management tends to be conservative, what they say can move the stock.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.