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Jim Cramer's Mad Dash: XOM GM

NEW YORK ( TheStreet) -- Exxon Mobil (XOM - Get Report) is hosting its analyst meeting Wednesday. TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the oil giant doesn't have enough growth. 

"People want growth," which a company like Continental Resources (CLR), provides, Cramer said. 

Going one step further, he pointed out Exxon's stock would not have moved from $85 to $95 if it wasn't for some help from Warren Buffett, who took a position in the stock.

Buffett does not concern himself with short-term problems but focuses on long-term opportunities, Cramer noted. If that's the case, Exxon Mobil must have a 50-year plan. Exxon also returns a lot of cash to shareholders in the form of share buybacks and dividend payouts. 

Turning to the automotive space, Cramer really likes General Motors (GM - Get Report). The Action Alerts PLUS name looks like it's "going to break out here," he said. Cramer said the company actually benefits from a rising interest rate environment because it cuts down on its pension obligations. 

Must Read: Jim Cramer's Stop Trading: MSFT TSLA

He added CEO Mary Barra will be able to put vehicle recalls behind the company while finding continued success in China. Cramer also likes the 3.2% dividend yield. After falling nearly 10% for the year to date, Cramer advised investors to "buy GM right here." 

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had a position in GM.

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GM $31.76 0.09%
XOM $76.81 1.23%
AAPL $110.78 0.36%
FB $94.01 2.11%
GOOG $641.47 2.32%


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DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
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