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First up was Apple (AAPL) , a stock he owns for his charitable trust, Action Alerts PLUS. Apple reported a 15% revenue decline but saw shares soar in after-hours trading, up 7.1%. Why? Because many investors had feared far worse from the tech giant.
Still other upside surprises was Analog Devices (ADI) snapping up Linear Technologies (LLTC) , news that sent shares of both companies higher. Finally, Cramer called out the 6% pop in Las Vegas Sands (LVS) as another example of good being good enough for investors.
There were also a number of stocks that weren't good enough, including McDonald's (MCD) , which fell 4.4%, Gilead Sciences (GILD) , off 8.4%, and Twitter (TWTR) , another Action Alerts PLUS holding, plummeting over 11% on terrible forecasts.
Know Your IPO
In his "Know Your IPO" segment, Cramer highlighted Acacia Communications (ACIA) , the optical networking company that came public on May 13 and has since rocketed up 160%.
Arcadia makes equipment that's integral to the Internet's infrastructure, Cramer explained, and the company is disrupting the market with new technology that's in high demand. Acacia posted 79% year-over-year revenue growth and is struggling to keep up with demand.
There are risks associated with Acacia, however, and Cramer noted the company has a high concentration of revenue in just a handful of customers. Nearly half the company is owned by just two shareholders.
Trading at 25 times earnings makes Acacia far too cheap given its growth rate, Cramer concluded, but only shareholders who are willing to accept the speculative risks should own it, and even then only on a pullback.