TheStreet's Jim Cramer says Yahoo's earnings report was "terrific" and not just because of Alibaba. Cramer says Yahoo's business has stabilized away from Alibaba and it will be able to buy back billions of dollars worth of stock. Cramer thinks the stock can trade to the mid-$40s. Bank of America did not have a stellar quarter, says Cramer, and if the stock was up 44 cents yesterday it will give back those gains today. Cramer would buy the stock below $15, the level at which it will stabilize.

More from Video

Listen: Will Smart Technologies Woo Millennials Back to Motorcycle Riding?

Listen: Will Smart Technologies Woo Millennials Back to Motorcycle Riding?

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Gold Is Plagued By Disinterest - U.K. Top Fund Manager

Gold Is Plagued By Disinterest - U.K. Top Fund Manager