Cramer Is Watching Ulta Salon And Time Warner Today

Jim Cramer said during his daily "Stop Trading" segment that he will be following closely the trading action in Ulta Salon, Cosmetics & Fragrance, Inc. ULTA and Time Warner Inc TWX.

Why Ulta Salon?

Ulta Salon reported a better-than-expected first quarter print on Thursday and the stock hit a new 52-week high of $237.53 Friday morning.

According to Cramer, Ulta Salon's post-earnings conference call was a "clinic" on how a conference call should proceed and the company's CEO Mary Dillon is "one of the best executives in the country."

"She [Dillon] wants to the take over the world and I would not get in her way," Cramer emphasized.

Cramer also suggested the company has successfully "captured millennials" who also buy products for their parents. The company also demonstrated impressive growth in online sales, especially from mobile devices.

"They are doing a fabulous job," he added. "The stock deserves to be up what it is."

Why Time Warner?

Cramer also cautioned investors against buying shares of Time Warner on the belief Apple Inc. AAPL will come in and acquire the company.

"It's not going to happen," Cramer said. He added that if investors want to buy Time Warner's stock, they should be doing so under the belief that the company can successfully monetize its assets, including a strong slate of movies.