Jim Cramer's Mad Dash: MCD FB

NEW YORK (TheStreet) -- McDonald's (MCD) missed on top- and bottom-line earnings expectations. 

"It doesn't matter," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio said on CNBC's "Cramer's Mad Dash" segment. 

McDonald's is "a value play," he said. Cramer liked the company's global comp-store growth of 0.5%, despite U.S. comp sales falling 1.7%. 

The stock will pay investors a 3.5% dividend yield to wait for the company to get back on track, he suggested. McDonald's also has strong pricing power, unlike many smaller-growth restaurant chains such as Chipotle Mexican Grill (CMG). 

Turning to Facebook (FB), Credit Suisse upgraded the stock, which reports earnings Wednesday, to buy from hold. 

From the analyst's report, Cramer said that based on 2016 estimates, Facebook -- an AAP holding -- is cheaper than the S&P 500. This is one of the "most bullish calls I've ever seen" the day ahead of an earnings report, he concluded. 

-- Written by Bret Kenwell in Petoskey, Mich.

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

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