Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".

(Updates from 10:45 a.m. ET with closing information and corrects the ticker symbol for Avon Products.)

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

Bernstein downgraded VertexPharmaceuticals (VRTX) - Get Report to hold from buy. "Be careful with all the big biotech," Cramer advised, and  suggested taking some profits in GileadSciences (GILD) - Get Report. VRTX fell 5.6% to $67.36.

Piper Jaffray downgraded Chart Industries (GTLS) - Get Report to hold from buy. Cramer said that although he likes CEO Sam Thomas, the "shortfall is meaningful," especially after the company missed on top- and bottom-line earnings estimates. GTLS dropped 6.3% to $100.73.

Yelp (YELP) - Get Report is trading well despite pricing its secondary at $67. Cramer said the "quarter was good" and investors should not "believe the critics." YELP fell 1% to $67.15.

BMO downgraded Avon Products (AVD) - Get Report to hold from buy. "Avon is a disaster," Cramer stated, and CEO Sheri McCoy "has to pull it out of a tailspin and quickly." AVP rose 4.4% to $18.27.

Quintiles (Q) announced the departure of a major executive and now "people suddenly hate it," Cramer said. He agreed with the upgrade to buy from hold at Robert Baird. Q was 3.4% higher to $43.43.

Groupon (GRPN) - Get Report is "making a major comeback," according to Cramer, who would bet with management rather than against them. GRPN jumped 8.7% to $9.93.

To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here.

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

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

  None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

  Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.