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(Updates from 10:45 a.m. ET with closing information.) NEW YORK ( TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Monday. PPG Industries ( PPG) sold its majority stake in lens company Transitions Optical for $1.73 billion. Cramer thinks PPG will use the funds to increase its buyback program. PPG rose 4.1% to $161.17. Oppenheimer upgraded Cabot Oil & Gas ( COG). Cramer agreed, citing the company's high production growth. COG fell nearly 1% to $76.54. Noble Energy ( NBL) was downgraded by Merrill Lynch. This call Cramer did not like, saying everyone seems to think it's time to get out of the oil play. NBL fell 2.1% to $62.07. Wells Fargo likes Johnson & Johnson ( JNJ) and so does Cramer, citing strong management, cost savings and high growth in its pharmaceutical business. JNJ was unchanged at $93.21. Ciena ( CIEN) received a higher price target from Needham. "Telco equipment is making a comeback," Cramer said in agreement. CIEN rose nearly 1% to $21.92. Barclays downgraded RF Micro Devices ( RFMD). Cramer said it's because of the oversaturation in the smartphone market, with all of the analysts trying to get ahead of it. RFMD fell 4.2% to $5.20. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell