Tellabs (TLAB) and Motorola (MOT): Both of these stocks are cheap, although they are doing good business, according to Cramer, who blames the "spastic market" and overselling of stocks on general worries about the Fed's meeting next week.
McDonald's (MCD): This stock should be higher, according to Cramer, since it announced its decision to open drive-throughs gas stations throughout China. However, he is not so surprised since, "we've got a real yawner of a market here."
General Mills (GIS) and Morgan Stanley (MS): Cramer cites these companies as two more examples of stocks that are inexplicably cheap. He says that GIS is "quality franchise with a nice yield," and comments that Morgan Stanleys is "cheap, cheap, cheap, and I wouldn't sell it here ahead of the quarter."
More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.