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Actionable news in BAC: BANK OF AMERICA CORPORATION,

Jim Cramer — Buy Bank of America Over Citigroup, Wells Fargo

Right now, cyclical stocks like miners and industrials are in favor, said TheStreet's Jim Cramer, comanager of the Action Alerts PLUS portfolio, on Wednesday. He was taking viewer questions from the floor of the New York Stock Exchange.

That's put a pause on buying stocks like Hershey (HSY - Get Report) , which Cramer also noted caught a downgrade to sell from hold at Bank of America/Merrill Lynch. Although convenience store sales are going strong -- something Cramer extrapolated from the recent earnings results from PepsiCo (PEP - Get Report) -- he's going to wait for a larger pullback before calling it a buy.

As for banks, Cramer said he would rather buy Action Alerts PLUS name Bank of America (BAC - Get Report) over Wells Fargo (WFC - a>


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