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Cramer: Market ignoring flood of positives

(Click for video linked to a searchable transcript of this Mad Money segment)

It seems Wall Street wants to point fingers. And Jim Cramer is furious that some perfectly innocent players have become the object of scorn.

"Don't blame the companies!" exclaimed the "Mad Money" host. "There's plenty wrong with this market, but don't blame the companies."

Cramer is absolutely livid over some of the rhetoric he's been hearing about the state of American corporations.

"Let's get right to my beef: I'm sick and tired of hearing that earnings are tepid and sales aren't so hot. It's just not true."

Photographer | Collection | Getty Images

Digging through some of the major quarterly reports released over the past week or two, Cramer just can't get his head around the negativity.

"This earnings season got started with a bang from Alcoa, which told you things are improving for trucks, cars, aerospace and non-residential construction," Cramer noted. "I heard people say the revenues were weak. That's a joke. And no one recognized this was Alcoa's best quarter in years on both the top and bottom lines."

Also Cramer was baffled by Wells Fargo skeptics. "Wells reported what can only be described as a fantastic quarter with amazing growth, just superb and eye-opening. Wells had double digit everything. And their results tell me we're doing very well here in the United States."

Cramer said investors should be feeling equally bullish about Bank of America, CSX, Yahoo! and Intel.

"Also, Coca-Cola and Johnson & Johnson were picture perfect," Cramer added. "Coke put its considerable marketing muscle behind emerging markets, where demand is keen and JNJ delivered 10% pharmaceutical growth, 12% if you back out the currency. That's just terrific."

Cramer said the only big company that's really disappointed this quarter was JPMorgan. But other than that, Cramer feels strongly that investor takeaway from earnings season, at least so far, should be nothing short of bullish.

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"The only stinker so far was JPMorgan, and I reiterate that was the only company that truly delivered subpar top and bottom line numbers. Otherwise results were good to impressive. I don't understand why so many investors aren't recognizing the flood of positives."

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

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