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Jim Cramer Says Analysts Have Salesforce Buying Slack 'All Wrong'

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Stocks were declining in intraday trading on Wednesday, a day after the S&P 500 and Nasdaq both set record highs, but came off earlier lows as oil prices moved higher and energy shares rose.

Wall Street had traded lower earlier after a report from ADP said the U.S. added 307,000 private-sector jobs in November, missing economists' estimates of 405,000. It was the smallest gain since July.

And the U.K. approved Pfizer's  (PFE) coronavirus vaccine for emergency use, reaching a decision ahead of expected approvals from the U.S. and the European Union.

But what was topping Jim Cramer's attention was Salesforce's  (CRM)  deal to acquire Slack  (WORK)

Catch why Cramer thinks analysts are "all wrong" on the move in the video above. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here. 

Watch: Everything Jim Cramer Is Watching in the Markets Wednesday

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