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(Updates from 10:42 a.m. ET with closing information.)

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

Wells Fargo cut its estimates on Ensco (ESV)   Cramer said the company "is not that strong" when it comes to the recent deepwater drilling day rates it recently released.  ESV was flat at $61.09.

Terex (TEX) - Get Report beat on bottom-line estimates. That made Cramer wonder about Caterpillar (CAT) - Get Report  He said CAT's problems must be with execution because Terex is doing fine with what he considers a subpar product. TEX closed 1.7% higher at $35.70.

Stifel Nicolaus upgraded Climarex Energy (XEC) - Get Report to buy from hold. Domestic oil companies may now be a buy after getting crushed from falling WTI crude oil prices, Cramer opined. XEC rose 1.9% to $101.24.

Deutsche Bank upgraded Yum! Brands (YUM) - Get Report to buy from hold and raised its price target to $90. Cramer said the upgrade is a little late, considering the stock is up in recent trading. YUM was up 4.5% to $78.30.

Splunk (SPLK) - Get Report is a "great company," Cramer said following the earnings report. He called it a buy.  SPLK jumped 22.8% to $73.56.

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VF Corp. (VFC) - Get Report has "a lot of great" brands, Cramer said, who added that "outdoor wear is doing very well." VFC ended the day at $232.10, up 3.4%.

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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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