On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Palo Alto Networks, Inc. ( PANW ) .

Palo Alto, on July 20, entered into a definitive agreement with CyberArk to acquire the identity security company. Shareholders of CyberArk will receive $45 in cash and 2.2005 shares of Palo Alto common stock for each CyberArk share held for an approximate equity value of $25 billion.

Cramer said Qualcomm Incorporated ( QCOM ) is expected to go higher on Wednesday, and then he recommends selling the stock.

On the earnings front, Qualcomm ( QCOM ), on July 30, reported third-quarter revenue of $10.365 billion, up 10% year-over-year. The revenue beat a Street consensus estimate of $10.333 billion according to data from Benzinga Pro.

On Tuesday, when asked about Robinhood Markets, Inc. ( HOOD ) , Cramer said, “You take out your cost basis, you sell your cost basis tomorrow, and then you can't lose.”

Robinhood, on July 30, reported second-quarter revenue of $989 million, up 45% year-over-year. The revenue beat a Street consensus estimate of $898.95 million according to data from Benzinga Pro.

Price Action:

Palo Alto shares fell 1.1% to settle at $169.09 on Tuesday.

Robinhood shares declined 0.9% to close at $105.46.

Qualcomm ( QCOM ) shares fell 0.5% to settle at $146.71 on Tuesday.

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