"We know that bank stocks are red hot," said Jim Cramer on CNBC's "Stop Trading!" segment on Thursday. But there were also "$193 billion in pharmaceutical deals in the last month."

"That's the first time you've ever heard the term 'billion' and it wasn't associated with giving the money to bankers," he said. Instead, "actual shareholders" are reaping the benefits. "Look at the money coming out of Genentech ( DNA) and going right back into biotech." Genentech accepted Roche's takeover bid earlier on Thursday. Other companies in the news include Schering-Plough ( SGP), which Merck ( MRK) plans to acquire.

In other news, after a credit rating downgrade General Electric ( GE) is up more than 14%. The stock rising on bad news "is a very significant change of psychology," said Cramer.
At the time of publication, Cramer was long General Electric.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.

If you liked this article you might like

GE Is 'One of the Toughest Stocks I've Ever Had to Deal With,' Jim Cramer Says

General Electric's New CEO Has One Easy Choice

Here Are Monday's Hottest Stocks as the Dow Reaches New Records

You Are Forgetting This Commonsense Investing Wisdom

GE Is Too Cheap to Sell, but Its Dividend Looks Too Shaky to Buy: Cramer