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

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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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