Cramer: I like FedEx over UPS

UPS (UPS) may be a well-run company, Jim Cramer says, but he is concerned about the company's recent purchase of Dutch rival TNT. UPS paid a premium for TNT at a time when European markets are showing little growth.

"Is this the right time? And I say is this the right time because I am not hearing any growth out of Europe other than Germany. Now maybe the German business is so strong it makes senses. Maybe people feel like that UPS is taking a long view. I would not have done this deal unless I felt that maybe FedEx was going to buy them as a competitive deal," Cramer said.