The deal is worth $1.4 billion and PharMerica's board has already given it the green light.
No one knows where the giant squid is going to strike next.
Stock prices are either unfairly dragged down by competitors' earnings news or by Amazon's spread into more businesses, Cramer said.
Case in point: Home Depot and Lowe's.
It was the seventh best performer in the index during the first half of the year.