Jim Cramer's 6 Stocks in 60 Seconds: ED ARMH PNRA NOK S LULU (Update 1)

Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".

(Updates from 10:24 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.

Goldman Sachs said to buy Consolidated Energy ( ED). Cramer said this upgrade, comnig ahead of the Federal Reserve's FOMC announcement, could hint at a small taper. ED rose 3.1% to $56.99.

Everyone seems to think ARM Holdings ( ARMH) is the best semiconductor company in the world, according to Cramer, who added that it's also related to Apple ( AAPL). ARMH was up 4.6% to $48.29.

Wedbush is bullish on Panera Bread Company ( PNRA). "I like this call very much," Cramer said. PNRA rose nearly 1% to $172.89.

"People love Nokia ( NOK) because Microsoft ( MSFT) gave them a lot of money," Cramer said. NOK jumped 7% to $6.71.

Credit Suisse initiated Sprint ( S) as a sell. Cramer added that if the firm wants to go against CEO Dan Hesse, then "be my guest." S was up nearly 1% to $6.44.

Canaccord said Lululemon Athletica ( LULU) might breakout to the upside, but Cramer said he wants to see who the next CEO will be first. LULU ended the day at $74.46, up 6%.

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-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.

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