People no longer believe in stocks, says Cramer, who says people see them as untrustworthy and "not a legitimate asset class."
Legere told CNBC he believes that AT&T is "bleeding" and also claimed also claimed that in five years T-Mobile would surpass AT&T.
The AT&T-Time Warner deal has echoes of the failed Time Warner-AOL combination, but they differ in many ways, a former AOL CEO said.
Cramer's comments come as U.S. lawmakers and industry groups scrutinize the AT&T and Time Warner $85.4 billion merger.
Microsoft's win streak in cloud could be a sign that the company is hitting a turning point, one analyst told CNBC.
Carl Quintanilla is an Emmy-winning reporter and co-anchor of CNBC's "Squawk on the Street," broadcast live from the NYSE.
Simon Hobbs co-anchors the 10 a.m. hour of CNBC's "Squawk on the Street" live from the New York Stock Exchange.
Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."
“Squawk on the Street” Co-Anchor
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.