NEW YORK (TheStreet) -- The broad market may be flirting with a downturn but ExactSciences (EXAS) - Get Report isn't a stock that appears likely to be dragged down anytime soon. Shares of the Madison, Wisc.-based diagnostics company were surging 35% on Friday to $24.51.

On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, pointed out that shares have gained almost 40% since the announcement that Medicare will provide coverage for Cologuard, which is an alternative treatment for a colonoscopy that involves the testing of a patient's fecal matter. Cramer added that the treatment is much "more private" than a colonoscopy.

Many people don't like colonoscopies, he continued, so this test is a good alternative. Cramer was quick to add, however, that the test isn't as accurate as colonoscopies. 

Turning to Blackstone (BX) - Get Report , the company announced it will spin off its financial advisory business, which brings in roughly $380 million in annual revenue. 

"Why isn't the stock up?" Cramer asked. This is good news, the company is well run, and it has comparatively large dividend yield of 7%. People are going to wish they bought some of these beaten down stocks on this market pullback, he concluded.

-- Written by Bret Kenwell

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