Tuesday Jim Cramer made some predictions about the stock market in 2016, while answering viewers' social media questions on the floor of the New York Stock Exchange Tuesday. Cramer said he wouldn't be surprised to see Exxon Mobil (XOM) - Get Report and Chevron (CVX) - Get Report make some acquisitions.
Cramer was asked about technology companies IBM (IBM) - Get Report and Hewlett Packard (HPQ) - Get Report . He said only about 28% of IBM's business is fast growing, and the company needs to make an acquisition to spur growth. He's not interested in either Hewlett Packard or its spinoff, Hewlett Packard Enterprise (HP) - Get Report , until he sees a couple of quarters of earnings. He says the printer and PC business should buy Lexmark (LXK) .
Cramer was asked if he could start a new position in either Disney (DIS) - Get Report or Apple (AAPL) - Get Report , which would he choose? He likes Disney because it has some catalysts ahead of it, while Apple does not, he said.
Cramer was asked about Bank of America (BAC) - Get Report , which he says could go to $20, depending on the course of future interest rate increases by the Federal Reserve. More aggressive rate increases would benefit the bank.
Cramer also commented on Blackstone Group (BX) - Get Report , saying he likes the stock, and Iron Mountain (IRM) - Get Report , which he said he doesn't want to touch. A viewer asked about Goodrich Petroleum (GDP) - Get Report , and Cramer responded that he is currently working on a piece about the company, so "stay tuned."
Cramer is portfolio manager of Action Alerts PLUS and host of CNBC's "Mad Money." You can send your questions to Cramer on his Facebook page, or on Twitter, where he's @jimcramer. Use hashtag CramerQ.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS was long LLY, AAPL and BAC.