Cramer's 'Stop Trading': Bank of America

NEW YORK ( TheStreet) -- As expected, two initial public offerings, MaxLinear ( MXL) and Calix ( CALX), saw shares rise at the open, Jim Cramer said during his Stop Trading! segment on CNBC.

Cramer gives an $18.50 target for Calix and said MaxLinear already maxed out at $18.55. "You'd don't want to pay over for that," he suggested.

Crammer was also impressed with Lennar's ( LEN) earnings report on Wednesday. The homebuilder actually raised prices for houses in California.

Bank of America ( BAC) also said on Wednesday that it will reduce mortgage principal for some homeowners. "I am trying to get my arms around that," Cramer said. The problem with the announcement is that "you don't really know if Bank of America will take you or not."

Still, Cramer said anything that lowers principals is of real value. He owns Bank of America for his Charitable Trust portfolio.

Meanwhile, Williams-Sonoma ( WSM), Darden Restaurants ( DRI) and Phillips-Van Heusen ( PVH) all pre-announced better-than-expected earnings and even topped those numbers, Cramer said. Cramer said that this is a sign that the consumer is returning and March will be good.

Darden saw a boost from Olive Garden, LongHorn Steakhouse and Capital Grille.

-- Reported by Jeanine Poggi in New York.

RELATED STORIES:


Follow TheStreet.com on Twitter and become a fan on Facebook.

More from Stocks

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

3 Great Stock Market Sectors Millennials Should Invest In

3 Great Stock Market Sectors Millennials Should Invest In

Why Millennials Are Ditching Stocks for ETFs

Why Millennials Are Ditching Stocks for ETFs

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says