This is a recap of Jim Cramer's market update video on TheStreet.com TV, filmed Monday morning.
"Everyone's focused on pharma and the decline and fall of
," Jim Cramer said on his TheStreet.com TV video,
"Wave of M&A"
Pfizer needs to buy another company now because it needs growth, he said, adding that there's "a wave of M&A coming." Moreover, Cramer said the drug company should consider buying
as it's "a wounded animal."
Back in his "Health Care Rally" video, which aired on Nov. 30, Cramer had warned viewers that he believed Pfizer was out to "fool everybody."
There is "no upside surprise" at Pfizer, he had stressed. "
was the leader on the way down, and it will be the leader on the way up."
Looking at finance, he went on to say there has been little M&A activity in the sector since
, which he owns for his charitable trust,
Action Alerts PLUS, recently bought
But now there is a deal going on with
Bank of New York
, and Cramer predicts that "there will be a wave of banks moving."
He believes that
needs to get back in the game and that both
could be possible takeover targets.
Cramer urged his viewers to think of the banking group as the "most likely prey for overseas money."
Moving on, Cramer said that when he sees companies such as
and Bank of America taking matters into their own hands, he believes it to be a sign that "the market is overvalued in tech and finance."
LSI agreed Monday to buy
in an "all stock" deal worth $4 billion.
"These deals make too much sense to me," Cramer said. "The weak dollar is so great to buy banks and tech."
Further, he warned market players not to listen to the media as he believes it is "creating" stories.
"The weak dollar is good," Cramer said.
At the time of publication, Cramer was long Capital One.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click
here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click
here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click
here to get his second book, "You Got Screwed!" and click
here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by
TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.