Jim Cramer Loves Bank of America After Friday's Jobs Report

Jim Cramer wants to add more Bank of America to the Action Alerts PLUS Portfolio on a pullback.
By Rhonda Schaffler ,

Jim Cramer, TheStreet's Action Alerts PLUS Portfolio Manager and host of CNBC's 'Mad Money,' said he wants to buy more Bank of America (BAC) - Get Report shares on a pullback.

Cramer made the comments when explaining changes he would make to his charitable trust portfolio, which currently includes Bank of America, following Friday's strong jobs report.

Cramer said he needs to own more banks, as a play on rising interest rates. He added that he wished he bought more Bank of America stock when he sold out of Morgan Stanley (MS) - Get Report .

Cramer said the portfolio owns a little too much healthcare because of its positions in Biogen (BIIB) - Get Report and Allergan (AGN) - Get Report . He's not currently happy with his Kraft Heinz (KHC) - Get Report position but he's taking a longer term view because it's a stock Warren Buffett holds.

A viewer sent in a social media question about whether the strong dollar would hurt 3M (MMM) - Get Report . Cramer said the dollar is a negative for 3M, but the company's CEO knows how to grow the company and create new products, which will trump any currency weakness.

Another viewer asked whether it was time to sell shares of FireEye (FEYE) - Get Report based on its disappointing earnings report. Cramer cautioned that the stock isn't making any money, so it's hard to determine a valuation for it.

Another viewer asked about Under Armour (UA) - Get Report , which Cramer does like longer term. In the short term, Cramer is worried how retailers are being impacted by warmer weather. He said a cold snap would benefit Under Armour, VF Corp. (VFC) - Get Report and Columbia Sportswear (COLM) - Get Report .

Cramer was asked about Carnival Cruise Lines (CCL) - Get Report and he said he prefers Royal Caribbean Cruises (RCL) - Get Report because they have "more ships going to the right places."

Cramer answers viewers' social media questions each day on TheStreetTV. Send questions to Cramer on Facebook (FB) - Get Report or on Twitter (TWTR) - Get Report , using @JimCramer, with the hashtag CramerQ.

At the time of publication, Jim Cramer's Actions Alerts PLUS included shares of Bank of America, Biogen, Allergan and Kraft Heinz.

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