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(Updates from 11:07 a.m. ET with closing information.)

NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Monday.

(CVX) - Get Report reported "one of the most disappointing quarters I've seen this year," Cramer said of the company's recent results. CVX fell 49 cents to $111.14.

Smith & Nephew (SNN) - Get Report announced that it will acquire ArthroCare (ARTC) for $1.7 billion. Cramer enjoyed the market's reaction, saying, "the acquirer's stock goes up; I think it's pretty interesting." ANN fell by 18 cents to $72.06.

Wells Fargo upgraded Norfolk Southern (NSC) - Get Report to buy from hold. Cramer warned investors to be careful buying the stock, because "almost everyone" is bullish right now. NSC declined 3.3% to $89.58.

Cramer said he was not a fan of Royal Dutch Shell (RDS.A) and other big oil companies such as Chevron and Exxon Mobil  (XOM) - Get Report, which have all reported "terrible quarters." RDS.A was off 1.9% to $67.81.

Pandora (P) reports earnings this week and Needham & Company says the stock is on its way to $41. Cramer called it "one of the greatest short squeezes of all time," and said that "I would not get in front of this juggernaut on the short side." P was 3% lower to $34.98.

AOL (AOL) also reports earnings this week. Cramer said the company has had a "monster change" for the better. He liked the company's partial spinoff of Patch and said CEO Tim Armstrong is doing great. AOL was up 1.7% to $46.87.

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-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in stocks mentioned.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC Universal or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

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