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(Updates from 10:49 a.m. ET with closing information.)

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

BMO downgraded Dick's Sporting Goods (DKS) - Get Report to sell from hold. "I don't like this call," Cramer said, adding that he's a buyer. DKS fell 2.2% to $54.90.

Bernstein upgraded Cabot Oil & Gas (COG) - Get Report to buy from hold. This time Cramer agreed, calling the company the "most levered to natural gas." The stock will go higher, he stated. COG rose 3% to $34.08.

Cowen downgraded Workday (WDAY) - Get Report to hold from buy. Cramer admitted the stock is expensive but "I think the downgrade is probably wrong." WDAY fell 2.2% to $72.21.

BioMarin Pharmaceutical's (BMRN) - Get Report Vimizim drug received favorable approval from a Food and Drug Administration advisory committee on Tuesday. Cramer called it a "big win" for the company and said the stock will likely go higher from here.  BMRN rose 3.3% to $69.14.

Demandware (DWRE) announced a secondary offering at $57. Cramer thinks that if the stock can get back through the secondary level, e-commerce stocks, including Yelp (YELP) - Get Report, "can go higher." DWRE dropped 6.4%  to $54.15.

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Barclays cut its price target on Tesla Motors (TSLA) - Get Report to $120. Barclays suggested sales could fall by 10% to 20% due to the recent fires, Cramer noted. TSLA closed down 4% to $121.11.

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-- Written by Bret Kenwell in Petoskey, Mich.

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

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