I am loving these technology company earnings. No, I am not talking about Microsoft (MSFT), which was pretty darned good, or Salesforce.com (CRM), which has been terrific.

I am talking about the new technology companies, companies like Under Armour (UA), like PPG Industries (PPG), like Honeywell (HON), like Schlumberger (SLB).

They are developing and innovating and taking share for doing so. Under Armour, the apparel company, developed new forms of fiber that are lighter weight but tough that athletes love. Its technology is what's driving sales, including the spectacular numbers it put up last week.

PPG has made technological breakthroughs that have made the company's coatings the envy of the world. We don't think that tech can play a role in something as mundane as paint, but it isn't just because PPG has been able to sell paint better than the other guys -- its coatings are regarded as so superior to the rest of the world's coatings that the Japanese and Chinese carmakers demand PPG's materials to be able to maintain higher price points than they would otherwise command.

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Jim Cramer is a co-founder of TheStreet and contributes daily market commentary to the financial news network's sites. Follow his trades for Action Alerts PLUS, which Cramer co-manages as a charitable trust and is long SLB.