Jim Cramer: 'Not The Time To Own Oil,' When Asked About Exxon Mobil; Says IBM Is 'Performing Well'

On CNBC's “Mad Money Lightning Round,” Jim Cramer was asked about Advance Auto Parts AAP. He said, “You’re going to hold it… That company is not a great operator.”

On Aug. 22, the company reported quarterly earnings per share of 75 cents, missing the street view of $1.07. Quarterly sales of $2.683 billion beat the street view of $2.679 billion.

Cramer said “no to Citigroup Inc C, yes to JPMorgan Chase & Co JPM.”

On July 30, Morgan Stanley analyst Betsy Graseck maintained Citigroup with an Overweight rating and raised the price target from $66 to $79.

When asked about IES Holdings, Inc. IES, he said, “I know the company, and it's the right spot.”

On Aug. 2, IES Holding reported a year-over-year increase in third-quarter financial results. Also, the company authorized a $200 million share repurchase program.

IBM IBM is “doing quite well,” Cramer said. “Arvind Krishna [CEO of IBM] has really reinvented the company, he's doing a terrific job.”

On Sept. 9, IBM announced its intent to acquire Accelalpha, a global Oracle services provider.

“This is not the moment to own oil,” Cramer said, when asked about Exxon Mobil Corporation XOM.

WTI crude oil prices fell sharply on Tuesday as OPEC cuts its demand forecast.

Price Action:

• Citigroup shares fell 2.7% to settle at $57.95 on Tuesday.
• IES shares rose 2.4% to close at $148.46 during Tuesday's session.
• IBM shares gained 0.9% to close at $205.32 during Tuesday's session.
• Advance Auto Parts fell 0.5% to settle at $38.53 during the session.
• Exxon Mobil shares fell 3.6% to close at $110.82 on Tuesday.

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