NEW YORK ( TheStreet) -- Debra Borchardt: It's a tale of two companies. Federal Express ( FDX)reported disappointing earnings for their quarter while Oracle ( ORCL)hit a home run. So Jim, let's talk about Oracle, because they came out with a really strong quarter and it wasn't long ago, maybe what a year ago, we were talking about Oracle and saying boy, they've got some things to fix. Looks like they've kind of got on the right path. Jim Cramer: This was a great quarter for Oracle. Larry Ellison did many right things. This is Mark Hurd and Larry Ellison. Here's the main take away for Oracle, just in terms of surprise and wow factor. Europe, incredibly strong so you can only just presume, I mean, U.S. plus 20, Asia plus 13, but Europe up 12. They have the right products. They are selling them to the right customers. They've got big customers and this was a remarkable quarter. They put the, whatever people might have thought about the Sun Micro acquisition they are making it work. They've made a series of acquisitions look like they're all working. It's a great big day to play. We have EMC ( EMC) in Action Alerts Plus, but I have to tell you Oracle, Stephanie and I, we were talking about how Oracle's great. FedEx is really interesting, because FedEx wasn't that good. Debra Borchardt: Right. Right. Jim Cramer: But, we own FedEx. We actually trimmed a little yesterday for fear that we knew it wasn't going to be that good, and the market wouldn't take it right, but Deb, we're in a weird moment and that moment is what was bad is now great. Not good, but great. FedEx has problems with Asia, well holy cow Asia's coming back and we own a company that doesn't reflect that yet. FedEx has come in at $93. Debra Borchardt: And FedEx has issues with, as we know, they're premium service, that overnight service people don't want to pay for it, and a big bulk of their employees are in that area, and so they've got to put them out, trim that down and they're in the process of doing that, but that's going to take some time.
Jim Cramer: But, they're doing it, and this is a company that historically has gotten it right after getting it wrong. Does a lot of getting it wrong and getting it right, and it's a loved company and people feel that fuel costs aren't going to go up that much and that they're going to rationalize and that Asia is going to come back and they're going to live happily ever after. And you know what? I agree. Debra Borchardt: And if you're buying the stocks, so let's just put all that away. Jim Cramer: We've bought it lower. I'm not a buyer at these. I'm not a buyer at this level, but people are because they want exposure so badly. Debra Borchardt: You know Oracle's at a 52-week high and FedEx so, you could argue well it's coming down, but where would you buy FedEx? Jim Cramer: Is the train leaving the station? Well in $90 or $91 say, we sold some in $92 and I don't want to say like, hey listen I'd buy it at $95 having sold some at $92, but we have big position and it has run gigantic from when we bought it when it was ugly. The problem I have with buying anything today, and we have a nice position in cash not huge for Action Alerts, but the problem I have is just that, you know the transports yet to break out, we don't really have the good news from Washington. There'll be someone who just very knee jerks, says listen there is no deal December 30. There'll be chaos in January. I want to sell now and that's your better moment. Now, just to put on my old hedge fund hat, you may not get the better moment, but I think you have to, at this point, wait. Debra Borchardt:Okay, so wait on Oracle. Wait on FedEx. Jim Cramer:Because so many of us are not at the 52-week high that I still like. Debra Borchardt: Okay, so wait on Oracle. Wait on Federal Express? Jim Cramer:Yeah. --Written by Debra Borchardt in New York. >To contact the writer of this article, click here: Debra Borchardt. Follow @WallandBroad