NEW YORK (TheStreet) -- On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said Air Products and Chemicals (APD - Get Report) is doing well under its new CEO, Seifi Ghasemi, and the stock is up 2.4% on its restructuring announcement Thursday.

Turning to Continental Resources (CLR - Get Report) , the stock is about 6% lower as rumors circulate that the company's production numbers will be lower than expected. 

"I don't want to draw a conclusion that Continental Resources must be sold yet," Cramer said. Investors are selling first and asking questions second on this energy company, which he called a leader in Bakken shale production. 

Finally, on Alibaba, which will price its initial public offering tonight and trade publicly as BABA on Friday, Cramer cautioned investors to wait and see. If the underwriters do the IPO right, institutional and retail investors will both be able to make money. 

But demand on the institutional side is so strong, it wouldn't be surprising if the stock went to $90, Cramer warned. Its current $66 to $68 range is "very well priced," Cramer concluded. 

- - Written by Bret Kenwell in Petoskey, Mich.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.