NEW YORK (TheStreet) -- On CNBC's "Cramer's Stop Trading" segment, Jim Cramer said Rite Aid (RAD) - Get Report is taking the pharmacy industry by storm along with CVS Caremark (CVS) - Get Report and Walgreen (WAG) . The three companies -- an oligopoly -- are squeezing the middle man.
Rite Aid is no longer a turnaround story, Cramer said, it is an earnings story. The company's 5% same store sales increase beat his expectations of 3% to 4% growth.
"It's almost as if a machine says,'Oh, good!'" on Yelp results, "'We've got to buy Facebook (FB) - Get Report, Workday (WDAY) - Get Report and Concur Technologies (CNQR) ,'" Cramer said. And you've got a move all at once to to these Internet companies.
-- Written by Anthony Buccino in New York.