NEW YORK ( TheStreet) -- TheStreet's Jim Cramer is here to discuss some of the big stock market headlines Thursday.

First, Ford ( F) reported better-than-expected earnings results after beating on the top and bottom lines.

But that's not what's got Cramer excited. He said the big thing to take away from the earnings report was the rapidly declining losses in the company's European operations.

He added that because of the reduced losses, the stock is on its way back to $18.

Meanwhile, Akamai ( AKAM) isn't getting much love following its report.

Even though Akamai beats analysts' estimates for EPS and revenue, Cramer said the stock is now "in the penalty box" because the company offered lower-than-expected guidance.

In other news, shares of McKesson ( MCK) are trading higher after the company beat earnings estimates and has agreed to acquire Celesio, a German peer, for $8.3 billion.

Cramer cheered the move and concluded that the stock is not done moving higher. He said this is the first day of a multiday move higher.

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long F.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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