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Jim Cramer's 6 Stocks in 60 Seconds: KO CAB IP TEX CIEN STX (Update 1)

Tickers in this article: CAB CIEN IP KO MU STX TEX
Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".

(Updates from 10:37 a.m. ET with closing information.)

NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Wednesday.

J.P. Morgan cut its estimates for Coca-Cola . Cramer suggested investors avoid the name, saying the company has "lost its edge." KO fell 1.4% to $37.43.

William Blair initiated Cabela's with a hold rating. Cramer agreed, noting this is where people buy guns. CAB dropped 1.9% to $62.54.

Jefferies said not to worry about International Paper . Cramer concurred, adding, John Faraci "is a great CEO. Don't bet against this man." IP fell 1.5% to $44.60.

Terex is one of the best ideas at Morgan Stanley. Cramer said he and others like the contrarian call. TEX rose 1.4% to $34.41.

"Ciena has been the best telco play," Cramer said, adding that he is shocked by the way the stock continues to move higher. CIEN was unchanged at $25.60.

Pacific Crest upgraded Seagate Technologies to buy from hold and like Micron , should continue to do well from supply constraint, Cramer said. STX was 2.8% higher at $45.95.

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-- Written by Bret Kenwell in Petoskey, Mich.