Cramer: Buy U.S. Bancorp and Diageo, But Sell Penn West Petroleum and Melco Crown

U.S. Bancorp (NYSE:USB): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $35.46, and its 52-week low is $28.58. “People are upset,” Cramer said. “They feel there is not enough growth in the mortgage business. The stock can fall a bit, but it is too well-run for me to abandon. Two years from now, that stock is going to be higher, even though two days from now, it is going to be lower.”

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USB

Diageo (NYSE:DEO): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $127.51, and its 52-week low is $92.55. ”I like it,” he said. “Buy 25 here, wait until it gets to $115 and buy more. Then at $110, you will get yield protection.”

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DEO

Penn West Petroleum (NYSE:PWE): Jim Cramer ranked this stock a Sell. The stock’s 52-week high is $17.58, and its 52-week low is $9.19. “It is not doing that well,” he said. “There are tax considerations. It is not the same as an American trust.”

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PWE

Melco Crown Entertainment (NASDAQ:MPEL): Jim Cramer ranked this stock a Sell. The stock’s 52-week high is $23.69, and its 52-week low is $9.13. “It is too sensitive to the situation in China because of Macau,” he said. “I have to see the situation in China improve before I can recommend a casino stock.”

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MPEL

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