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NEW YORK (TheStreet) -- TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, took a look at two stocks that recently reported earnings, Pitney Bowes (PBI) - Get Pitney Bowes Inc. Report and Eaton Corp. (ETN) - Get Eaton Corp. Plc Report, an AAP holding.

Cramer noted that Pitney Bowes, though reporting in-line earnings, boosted its full-year guidance. "I like the stock very much," he said. 

As for Eaton, shares are down slightly following a slew of analyst downgrades.  But Cramer is undeterred. Despite the company and its management failing to live up to expectations, he plans to stick with the stock.

"When everyone downgrades a stock, it's closer to a bottom than a top," he concluded.

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-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had a position in ETN.