6 Great American Stocks to Consider

The economic outlook doesn’t look very rosy to investors right now. Europe is engulfed in debt issues. The Gulf of Mexico is still spilling oil from the BP (BP: 46.97 0.00%) disaster. And Wall Street is unsettled by the financial reform bill that Congress is getting ready to pass.

It seems that the bad news has been capturing all of the headlines of late. Former hedge fund manager, Jim Cramer pointed out yesterday that good news from several great American companies have been seemingly ignored by investors.

Nike (NKE: 105.93 0.00%)
The shoe maker reported this week that they have “never been more profitable”. NKE had record cash flows of $2.8 billion and earnings that were $.12 above Wall Streets estimates. Yet the stock dropped 4% following the earnings report.

Bed Bath and Beyond (BBBY: 61.10 0.00%)
BBBY shares dropped over 5% yesterday despite a 53% improvement in earnings per share and a 40% increase in gross margins.

Adobe Systems (ADBE: 32.10 0.00%)
The tech giant reported a 34% growth in revenues on Tuesday. The next day the stock dropped over 7%.

Darden Restaurants (DRI: 49.13 0.00%)
The owner of Red Lobster and Olive Garden reported earnings that were below Wall Street’s expectations, but did maintain their full year guidance.

Jabil Circuit (JBL: 23.97 0.00%) and CarMax (KMX: 29.92 0.00%) also reported bullish data, but their stocks dropped.

Cramer feels that all 6 of these companies are great American stocks to consider. They all have impressive fundamentals which should lead their stocks higher when a rally begins. For now though, Cramer recommends waiting for the market to stabilize before buying these stocks.