NEW YORK (TheStreet) -- TheStreet's Jim Cramer has a few stock picks based on the headlines.
MasterCard (MA) announced late Tuesday it would do a 10:1 split, raise its dividend by 83% and initiate a $3.5 billion buyback plan after the current buyback expire. According to Cramer, the only two events that matter are the dividend and the buyback.
He said Visa (V) is now cheaper than MA, and suggested investors sell MA right before the split and use the proceeds to buy V.
Turning to Home Depot (HD), Cramer questioned what else shareholders could want from the stock. Management has done everything right and the company will hit 2015's estimates in 2014, helped along by strong housing prices. Cramer called the stock a buy on weakness.
However, Cramer said SNI is undervalued and he likes both names. He suggested investors stay long SNI and DISCA.
-- Written by Bret Kenwell in Petoskey, Mich.