NEW YORK (TheStreet) -- There are many events having an effect on U.S. stocks Wednesday, TheStreet's Jim Cramer said on CNBC's "Cramer's Stop Trading" segment.
First, Cramer, co-manager of the Action Alerts PLUS portfolio, noted that one stock shooting higher thanks to its revenue and earnings beat is Lands' End (LE) . Shares, at close to $38, are up over 13%. Cramer said the online retail company "has a great business" and the "CEO is excellent."
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Looking to world events, Cramer noted that if President Obama plans to take further action against the islamic State in the Middle East, investors can look at defense-related stocks including Alliant Techsystems (ATK) , Raytheon (RTN) and Lockheed Martin (LMT) . Lockheed has a "great dividend," he said.
The President is unlikely to "put boots on the ground" and so the unmanned technology provided by Northrop Grumman (NOC) could also be a solid play.
Northrop Grumman also has exposure in cyber security, an industry that is "very lasting, important and probably permanent," Cramer said. For this reason he also likes shares of Palo Alto Networks (PANW) , which he thinks is likely "going much higher," he concluded.
-- Written by Bret Kenwell in Petoskey, Mich.