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(Updates from 11:39 a.m. ET with closing information.) NEW YORK ( TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk On The Street" Wednesday: Cramer said sequestration could spell bad news for Charles River ( CRL) and its government contracts, which makes him worried. CRL shares fell 4.5% to $42.19 Wednesday. But he was not worried about luggage maker Tumi ( TUMI) at the high end of retail or Dollar Tree ( DLTR) at the low end, however. TUMI was up 1% to $21.50 while DLTR was unchanged at $47.26. Cramer said he's not a seller of Legg Mason ( LM) and would be a buyer of Panera Bread ( PNRA) as crop prices continue to fall. LM was down 3.7% to $30.49 but PNRA rose 2.5% to $169.50. Finally, Cramer said he would wait a few days to buy shares of Valero ( VLO) as the markets digest the latest news from that sector. VLO ended the day down 4.3% to $40.60. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Scott Rutt in Washington. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC