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TheStreet Open House

Jim Cramer's Mad Dash: 'I Like Cisco'

NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, was taking a look at Cisco Systems (CSCO), which was upgraded to buy from hold at Deutsche Bank. 

Cramer said the company's new products are selling better than most had expected and CEO John Chambers seems "more fired up" now than he's seemed in many years. 

U.S. businesses are back on track, Cramer said, adding that "I like Cisco." The stock's valuation and dividend yield are attractive too, he said. 

Turning to Bank of America (BAC), the company has resubmitted a smaller capital plan to the Federal Reserve. Originally the bank had submitted plans to increase its dividend and initiate a share buyback program. 

However, after an accounting error involving $4 billion was discovered, Bank of America was forced to retract its original capital plan. 

The retraction of its capital plan "killed the stock," Cramer said. Now, he questioned whether the stock could regain its luster with the new submission.


-- Written by Bret Kenwell in Petoskey, Mich.

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

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