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NEW YORK ( TheStreet) -- The most beaten down of stocks finally got their day in the sun, Jim Cramer said Wednesday. He told "Mad Money" viewers the negativity surrounding many of these companies has been greatly exaggerated.
Exhibit number one:
(BA), a stock Cramer owns for his charitable trust,
This turned out to be a big mistake as Airbus' problems turned out to only be with Airbus while Boeing was able to deliver a huge earnings beat on monster revenue that forced it to raise full-year guidance.Exhibit number two: Caterpillar (CAT), another stock that had been decimated by the markets, down from a high of $116 a share to just $80. But after the heavy-equipment maker reported less-than-dismal results, shares immediately popped $3. And why shouldn't they? asked Cramer. If things do get better, such as affordable oil prices and a new U.S. highway bill, won't that create positive momentum for Caterpillar? Whether it was Broadcom (BRCM - Get Report) in the semiconductor space or Pepsico (PEP) in soft drinks, investors have simply gotten too negative, said Cramer. That sentiment could be seen in stocks from Whole Foods Markets (WFM) to Akamai (AKAM), both of which also reported fantastic quarters. Cramer said that, yes, there is no room for error in this market, as Apple (AAPL - Get Report), another Action Alerts PLUS holding, and Buffalo Wild Wings (BWLD - Get Report) has proven. But that's no reason to discount the entire market.