NEW YORK (TheStreet) -- Finish Line (FINL) shares shot up over 4% Friday after the sports apparel retailer topped earnings per share and revenue expectations.
TheStreet's Jim Cramer, co-portfolio manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment it was an "excellent quarter" because the company is now supplying the right mix of products for its customers.
"It's all changed," Cramer said, and Finish Line has overcome past missteps that weighed on the stock price. It didn't hurt that Finish Line features a strong selection of Nike (NKE) products, Cramer said. Nike also reported a strong quarter late Thursday.
Turning to biotech stocks, Cramer noted that Alder Biopharmaceuticals' (ALDR) stock was lower in pre-market trading but is now up nearly 2% after announcing a 4.49 million share secondary offering at $44.50. Depending on how investors react it could help gauge sentiment in the biotech sector, Cramer said.
The company is working on a treatment for those who suffer from recurring migraines. Because Botox is a known cure used for migraines, Cramer said, Allergan (AGN) should consider buying the company. Allergan is an AAP holding.