Jim Cramer Says Skip WWE, Buy Time Warner And Stay in DISH

TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said he'd skip World Wrestling Entertainment (WWE) - Get Report shares and buy Time Warner (TWX) instead, stay in shares of DISH Networks (DISH) - Get Report and buy Intel (INTC) - Get Report if the shares move lower. Cramer said, 'Intel has a great balance sheet, great dividend. Cutting back capex. Stacy smith is one of the best CFOs. I think if it goes back to $28, $29 you buy it.' In the media and entertainment space, Cramer said he is not a fan of World Wrestling Entertainment (WWE). 'World wrestling is a checkered company and sometimes I think what you want to do is buy best of breed. World Wrestling versus Time Warner, how about that? Buy Time Warner,' said Cramer. He believes higher interest rates could lead investors to sell shares of Zillow (Z) - Get Report . 'Whether that's right or not, I think that's what happens.' Cramer believes DISH Networks is chronically cheap but he said they own a huge amount of spectrum and it well run. TheStreet's Ruben Ramirez has details from the floor of the New York Stock Exchange.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.