NEW YORK (TheStreet) -- U.S. equity markets are sharply higher. TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, takes a look at several companies making headlines. 

Shares of Under Armour (UA) are higher by more than 20% after beating on the top and bottom lines and provided better-than-expected guidance.

Cramer called it a "stealth technology" company, and said sales are doing so well because the company continues to reinvent apparel. He added that cold weather seems to be boosting its sales. 

Facebook (FB) is also higher after reporting earnings. Shares are currently up about 15% and Cramer said it's still at a level that investors can buy it at. He added that the company is selling at 33 times 2016 estimates, which is "dirt cheap" for a growth stock. 

However, he is not a fan of Exxon Mobil's (XOM) recent quarter.

Cramer said the company's production growth failed to increase last quarter. He continues to like independent oil producers, such as Noble Energy (NBL), EOG Resources (EOG), Continental Resources (CLR), and Pioneer Natural Resources (PXD). NBL is a holding in Cramer's Action Alerts PLUS charitable trust.

-- 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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