NEW YORK ( TheStreet) -- After jumping higher late last week on better-than-expected earnings results, shares of Yelp ( YELP) are again higher on Monday morning. The company announced that it has signed a deal with Yahoo! ( YHOO) that allows incorporates Yelp into Yahoo!'s search results.
TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said that Yelp is a great technology company, because it understands the three keys to success: social, mobile and cloud.
He added that Yelp is a perfect way for people to interact with businesses and vice versa. Also, Yelp gets its content for free, because users willingly post their reviews to the site.
Cramer also said this is a great deal for Yahoo!, since it makes the tech company more relevant and allows it to have a larger presence on social and mobile platforms.
In other news, hedge fund manager Carl Icahn announced that he is abandoning his efforts to push Apple (AAPL) into a bigger buyback program. Icahn reasoned that the company has bought back enough shares in the short term, ($14 billion worth in the past two weeks), and therefore, will continue to do so when needed.
Cramer said that Apple CEO Tim Cook has finally demonstrated that he understands the value of his company's share price and is willing to buy it in large chunks when it becomes too cheap.
Cramer also said that it's cheaper for Apple to buy back the outstanding shares, because that way it will not have to pay a dividend on those shares in the future. Cramer said he was pleased what he called the company's "opportunistic" buying over the past two weeks.- - Written by Bret Kenwell in Petoskey, Mich.
At the time of publication, Cramer's Action Alerts PLUS held shares of Apple.