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(Updates from 10:42 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. The U.S. Department of Justice blocked the merger between US Airways Group ( LCC) and American Airlines. Cramer believes the deal is completely grounded. LCC fell 1.2% to $16.17. Cree ( CREE - Get Report) reported disappointing earnings results. Cramer said he thought the company was having a great quarter. At some point, it becomes a buy, he added. CREE plummeted 22.4% to $58.83. Millennial Media ( MM) is also down after reporting earnings. Cramer said that it goes to show that not everything in mobile is working. MM dropped 18.8% to $6.90. Marvel Technology Group ( MRVL - Get Report) was upgraded by Barclays. Cramer said the company is doing great, but watch out for Hewlett-Packard ( HPQ - Get Report). MRVL fell 1.5% to $13.18. Barclays increased its price target on Best Buy ( BBY - Get Report). Cramer noted that consumer spending has been strong. BBY rose 2.6% to $31.67. Microsoft ( MSFT - Get Report) overtook BlackBerry ( BBRY) as the number-three smartphone company, although it seems to be getting very little recognition for it, Cramer noted. MSFT was unchanged at $32.35. 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