Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".
(Updates from 10:49 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 warned investors interested in obesity drug company Vivus (VVUS) to be careful because "this is a big speculative play." VVUS dropped 12.5% to $8.23.
UBS upped its price target on CVS Caremark (CVS), which had a "beautiful quarter" according to Cramer. "I think it goes higher." CVS was 1% higher at $63.87.
Miller Tabak downgraded Buffalo Wild Wings (BWLD) after hitting its price target. Cramer had no objections with disciplined investing but he thinks the restaurant company has got a "strong story." BWLD fell 3.1% to $145.72.
"Hain Celestial Group (HAIN) is not a fad," Cramer said, adding that organic specialty products are a good place for investing. HAIN rose 3.5% to $86.25.
Sterne Agee downgraded Pioneer Natural Resources (PXD) to hold from buy, but Cramer wants to "take the other side of the trade." He said the company just had one of the biggest oil field finds in the world. PXD declined 5.6% to $198.55.
Encana (ECA) cut its dividend, but is looking to sell shares in a new royalty trust. "It's nice to see them trying to make a comeback," Cramer said. ECA rose 1.7% to end the day at $18.65.
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.