NEW YORK (
) -- If you're looking to bank on the 3-D market, look to
, Jim Cramer said during Tuesday's
segment on CNBC.
According to a
Wall Street Journal
article, on the heels of blockbuster
, everyone wants 3-D. The catch, Cramer said, is that you have to have movie theaters that have the capacity to show 3-D. "Cinemark has it."
The only knock on the stock is that currently there is only one
out there. Regardless, Cinemark is making money even without 3-D, Cramer said.
Indeed, despite the negative press surrounding the movie business -- like
toying with the idea of shorter movie-theater runs -- Cramer feels strongly about the group.
"People are going out again," he said. "Going out to a 3-D movie is the equivalent of going out to a Red Lobster or Olive Garden."
Cramer said Cinemark is just an inexpensive stock, and says that the negatives surrounding the industry explain why it is trading so low.
Bank of America
reported on Tuesday significant gains in the number of of modified mortgages through the government's Home Affordable Modification Program.
More than 12,700 of its customers now have a permanent Home Affordable modification. As a result, shares of the bank are climbing 4.7% to $15.12 in afternoon trading.
Cramer said the numbers were good today and the stock deserves this rally.
"Merrill Lynch business could be on fire and we might not even see the problems at Bank of American," Cramer said. "I like the mosaic of Bank of America."
The only warning Cramer issued regarding Bank of America is that the bank could get too enthusiastic and start lending more than it should.
Cramer owns Bank of America for his Charitable Trust.
Switching sectors, Cramer noted that
is falling nearly 1% to $82.64. "The stock got down to this level because oil was supposed to go to $70, but last I looked oil is at $77," he said.
Cramer says Transocean is a long-term stock, with the capacity to drill in hard-to-get places that are inaccessible to other companies.
The stock is also cheap, Cramer said, as is
-- Reported by Jeanine Poggi in New York.
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