NEW YORK (TheStreet) -- As we approach the end of what has been a rather historic week in the stock market, TheStreet's Jim Cramer provides insight into some of Friday's biggest stories. 

Nike (NKE) reported second quarter earnings but is trading lower on the results. Cramer called this a gift for investors and suggested they "buy with both hands." 

He added that growth in China was lower than expected but should improve in the future. Growth in the U.S. and Western Europe was very good, however. 

Turning to Oracle (ORCL), Cramer admitted he thought the company would have a worse quarter due to lower margins in the cloud. 

Instead, Oracle made a good acquisition for the cloud and the stock is not expensive, valuation-wise. He admitted that shares can go higher because so many people were negative on the company, but he still wasn't a buyer. 

Finally, BlackBerry (BBRY) reported quarterly results Friday morning. Cramer pointed out what Nokia (NOK) did when it was in trouble. 

The company had spun off its handset business, improved its balance sheet and exploited its intellectual property.

Now if BlackBerry can do that same thing, then it's a buy, he insisted. However, Cramer concluded that he doesn't think BlackBerry will pull it off. 

-- Written by Bret Kenwell in Petoskey, Mich.

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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