Jim Cramer's Lightning Round

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Cramer's 'Mad Money Lightning Round': Diageo on the Go

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" Wednesday evening at the University of Virginia in Charlottesville:

Cabela's(CAB): "I thought when gasoline went down in price. ... that it [Cabela's] would take off. It is still at 24. My bad, I screwed up. I got this one wrong ... in Don'tBuy camp." Cramer said he would "much rather see you" in Hibbett(HIBB) or Dick's Sporting Goods(DKS).

Diageo(DEO): "One of my best picks, and not just because I like sitting on my linoleum floor drinking the cheap scotch. ... I think Diageo at 80 bucks goes to 100 ... in the next 18 months." Cramer owns it for his Action Alerts PLUS charitable trust.

Northrop Grumman(NOC): Cramer said that Northrop, Lockheed Martin(LMT) and General Dynamics (GD) are all "terrific." Cramer said the "war's lasted a long time" and that the defense appropriations budget is huge.

Hudson City Bancorp(HCBK): "Inverted yield curve a bad environment. ... If you're gonna be in an investment bank or a bank, I would much rather see you in Goldman Sachs(GS) at $214."

Six Flags(SIX): "I like Mark Shapiro who runs Six Flags very much. ... I like Six Flags at lot more than I like the Redskins' chances."

"Hanesbrands(HBI) is a slow, plodding stock that will go higher ... but not exciting like an Under Armour(UA). I'm giving it one thumb up, but not way up."

Home Depot(HD): "They have got to get the numbers out of the aisles ... go back to the old days when if you needed help with plumbing, the plumber walked you down the aisle." Cramer said to sell Home Depot and stay with Lowe's(LOW).

Chiquita Brands(CQB): "SellSelSell."

Exxon Mobil(XOM): Cramer said Exxon is the type of company that "Wall Street just absolutely loves." He said it returns a lot of money in dividends and with buybacks, but it's also unexciting. He prefers Devon Energy(DVN) and Chevron(CVX).

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