Cisco Systems (CSCO) - Get Report jumped by 1.8% to $27.79 Tuesday after the San Jose, Calif.-based company announced it was buying CloudLock, a cloud security company, for $293 million.

"As companies are migrating to the cloud, they need a technology partner that can accelerate that transition and deliver critical security capabilities for all their users, apps and data in a seamless way," said Rob Salvagno, vice president of Cisco Corporate Development, in a release. "CloudLock brings a unique cloud-native, platform and API-based approach to cloud security which allows them to build powerful security solutions that are easy to deploy and simple to manage."

CloudLock, based in Waltham, Mass., is privately held.

Cisco said it "will pay $293 million in cash and assumed equity awards, plus additional retention-based incentives for CloudLock employees who join Cisco."

TheStreet's Eric Jhonsa explained the purchase bolsters a security business that has already been a strong performer for Cisco. Read Jhonsa's full report on the deal here.

Gary Morrow wrote in a separate article for TheStreet why Cisco is "a low-risk buy for patient bulls."

Cisco is a holding of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells CSCO? Learn more now.

Cramer and Action Alerts Plus Research Director Jack Mohr wrote Friday:

"CSCO is one of our positions with a large international exposure, and thus benefits from a softer dollar. Of course, this means CSCO feels the pain of the stronger dollar that may only get stronger as a result of the depreciating pound and euro.

"That being said, we continue to like CSCO's evolving software business and appreciate the company's strong, stable dividend and shareholder-friendly buyback programs. We believe these should offer support in the coming days, but recognize that investors are focused on international exposure for now and trading could be irrational in the near term."

TheStreet Recommends

Shares of Micron Technology (MU) - Get Report jumped by 6.2% to $12.99 Tuesday, two days before the company is set to release fiscal third-quarter earnings.

John Pitzer, an analyst with Credit Suisse, reiterated an outperform rating on shares of the Boise-based company and a $20 price target, according to  a report by Barron's.

"We expect MU to roughly meet F3Q Rev/EPS guidance and expect F4Q guidance to confirm a F3Q bottom," Pitzer wrote, according to Barron's.

Micron makes DRAM and NAND flash memory chips.

Check out this article to see why TheStreet's Cramer is bullish on Micron shares.

And read this report by TheStreet's Amanda Gomez to learn more about Micron's financial performance as it heads into earnings on Thursday.

Shares of Twilio (TWLO) - Get Report , which was taken public last Thursday at $15 and soared on its first day of trading, climbed again on Tuesday.

Shares of San Francisco-based Twilio jumped by 9.5%, finishing the day at $29.83.

Check out this video to see what Cramer had to say about Twilio, a cloud communications company, on a recent episode of CNBC's "Mad Money."

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.