4 bargain stocks for a turbulent market

Even though Crown Holdings has no direct connection to the mortgage business, its stock has suffered lately. That's because investors fear that the credit crunch could spark an economic slump that would hurt the packaging company (formerly known as Crown Cork & Seal).

But TIAA-CREF's mid-cap value-fund manager Tom Kolefas doesn't see it that way. "If the economy slows, raw-materials prices will get cheaper," he says. "End demand [from beverage and food companies] will stay pretty stable, and that should lead to margin expansion."

Kolefas also likes Crown's abundant free cash flow, which it can use for investment in plant and equipment to expand its business as well as to reduce debt and buying back stock. Analysts expect the company to see a 20% jump in earnings next year, which means investors can expect a comparable rise in the stock price.