For one reason or another, it appears the market is giving up on four key stocks. Jim Cramer, however, wouldn't be so quick to sell.
He thinks there are plenty of reasons for optimism for Facebook, American Airlines, Xilinx and Celgene. Following is a short synopsis of Cramer's outlook:
Shares of Facebook traded flat to lower on Thursday after the social media giant released quarterly results that underwhelmed the Street.
Although in the first quarter, the results weren't quite strong enough to ignite investor enthusiasm. "Also, these guys basically spent a huge part of the call saying that things were going to slow," Cramer said.
All told, the Street was disappointed.
Cramer, however, thinks the results were filled with excitement.
"Didn't Facebook totally deliver on every metric? Doesn't it have accelerating revenue growth, increasing user engagement and the ultimate in worldwide reach?"
For long-term investors, these are the developments that matter and Cramer says they're very positive.
"Unlike a lot of the stocks that have sold off because they are just a multiple of sales, not earnings, Facebook's actually an inexpensive stock. I don't know what's going to happen tomorrow with the stock. I do know that companies with tons of opportunities and great growth do reward their shareholders. I think this is an opportunity. Not a disappointment."
Although shares of American Airlines traded higher after earnings, Cramer thinks they should have gained as much as 10 percent, not a half a percent.
"The ," he said, "a record quarter."
In a message to employees American Airlines CEO Doug Parker emphasized the financial strength. He said, "In the entire history of American Airlines, we have never earned $400 million in the first three months of a year, but in the first three months since the merger, we did.
Yet the Street yawned. Why?
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"It had the misfortune to report on the same day as United Continental and that was the one airline that truly has delivered a nightmare number. It obliterated the glory of American. If the company had reported yesterday it probably would be through $40 instead of being stuck at $38," Cramer said.
Eventually, Cramer believes, the Street will see the strength.
Shares of Xilinx slipped almost 10 percent after it spooked investors with .
Although Xilinx expects its communications segment to show continued strength it also said revenues from the industrial and aerospace will be flat, sequentially.
"The guidance is nothing to write home about, but it's also not the first time they've done that," Cramer said. That is, this may be a case of what Cramer calls UPOD or under promise and over deliver.
"Several times the company's stock has moved intra-quarter only to be reined in by management. This time management didn't just rein the stock in, they sent it to the glue factory. (But aware of the pattern,) my chairtable trust bought some on the weakness."
Shares of Celgene traded about 3 percent lower after the company released earnings which showed that, excluding special items, Celgene had adjusted earnings of $1.67 per share, topping analysts' average expectations by 2 cents, according to Thomson Reuters I/B/E/S.
Also, sales of its flagship oncology drug Revlimid rose 14 percent to $1.14 billion for the quarter, which was about in line with Wall Street estimates.
"What was the crime, here? ," Cramer said.
Yet, investors hit the sell button.
Cramer says sellers all but ignored the fact that Celgene reaffirmed guidance.
And digging down into the metrics," the stock is selling at the same price to earnings multiple as some of the low single digit big pharma plays," Cramer added, but Celgene offers greater growth potential.
Eventually, Cramer believes the Street will catch on.
"I think ten days from now it will settle down and perhaps even begin to go higher. Not yet. But ultimately it's just too cheap to be this hated."
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