Jim Cramer's Lightning Round

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'Cramer's Mad Money Lightning Round': Time Warner Turnaround

TheStreet.com Staff

Here's what Jim Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Tuesday evening:

Sears Holdings(SHLD Quote): "Eddie Lampert is going to turn Sears to greatness. ... I need you to back up the truck* on any weakness." Cramer owns shares for his Action Alerts PLUS charitable trust.

Time Warner(TWX Quote): "Dick Parsons is engineering the turnaround of a lifetime. He is dynamite. ... We now have the cheapest cable company on earth and a dot-com that is turning around."

OmniVision Technologies(OVTI Quote): "I have so many tech stocks that are so much better. ... Let me suggest Marvell Technology(MRVL Quote), which I own for my charitable trust."

URS(URS Quote): "I've been buying for my charitable trust because of the levees. ... It requires patience, it requires strength. You must be like steel but it will be worth it."

Corning(GLW Quote): "Santa Claus may not be visiting Corning." But Cramer says Corning at 20 is right. "I'm not backing away, I'm backing up the truck."

AIG(AIG Quote): "I own it, I own it for the trust. ... This stock goes down every day" even though it had a good quarter. "But the doorbell is ringing and I say come in with me, AIG."

Internet Capital Group(ICGE Quote): "Overvalued, my friend. An overvalued pastiche of a bunch of businesses without the transparency." Cramer offered Google(GOOG Quote) instead.

CanWest Petroleum: "I am gonna send you to ... Suncor(SU Quote). Stay with the majors."

TiVo(TIVO Quote): "I think it's a sale. ... I also don't like the fundamentals."

Cramer also was bullish on IAC/InterActive (IACI Quote) and Canadian Natural (CNQ Quote).

Cramer also was bearish on Analog Devices (ADI Quote), Texas Instruments (TXN Quote) and CanWest Petroleum (BQI Quote).

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by clicking here.