NEW YORK (TheStreet) -- TheStreet's Jim Cramer says he has not liked Dendreon (DNDN) but it may not be dead in the water because of Merck's (MRK) acquisition of Idenix Pharmaceuticals (IDIX) and because of what's happening with MannKind (MNKD).
This acquisition activity has forced Cramer to reopen the books on Dendreon, and he is keeping an eye on it before he makes a judgment.
Cramer also says software-as-a-service stocks are still under pressure and they could still play catch up, but the major problem is investors want earnings per share in the end. Cramer notes Salesforce.com (CRM) happens to be cheaper than its peers and he likes the company a great deal, but he would not buy it until the price comes down more.
TheStreet Ratings team agrees, as it rates Salesforce.com as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SALESFORCE.COM INC (CRM) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and generally higher debt management risk."