Jim Cramer says don't sell GM on earnings — and touts this steelmaker as a rate-cut play

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. UPS : Shares tumbled 13% after the parcel delivery giant missed on the top and bottom lines. "Another disappointment, and my understanding is don't discount the fact that there was a strike last year. FedEx picked up a lot of business, and FedEx kept the business," Jim Cramer said.

"I'm just point blank saying this is wrong," Cramer said. Noting the stock's big run year to date, Cramer said, "what happens here is seemingly every time they report, it goes down. Then the company just goes in and buys, buys, buys. Do not sell your stock to Mary Barra." Coca-Cola : Shares edged higher on the back of better-than-expected Q2 results. Sales and earnings per share both topped expectations.

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