Cramer's 'Mad Money Lightning Round': Hanging Up the Phones

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

Sirius: "My range is $3.50 to $4.50. You're bumping up against the top of my range. I don't want to touch it. I don't want to touch XMSR either."

Pactiv: "You swap out of that one and go into Newell Rubbermaid ... more consistent growth." Cramer owns it for his Action Alerts PLUS charitable trust.

AT&T: "I don't like ATT. I don't like Sprint. I don't like Verizon. To heck with that industry."

Alliant Tech: "I like that stock. ... One of the best defense contractors out there. I'm doing a 'mon back* below 70.

Caseys General: "I want to swap out of ... and go into Pantry."

Serologicals: "You stay in the Serologicals. ... And then next week you can do a little schnitzeling (selling)."

Rio Tinto: "That is just a terrific company. That along with BHP are the Whole Foods of the minerals business."

Adtran: "When this stock gets hot, you can own it, but when it's not hot, you gotta do a sell."

Shaw Group: "If we value companies by how many press releases they issue, that stock would be two thumbs up." Cramer offered Foster Wheeler and ABB instead, two from the charitable trust.

Merck: Cramer doesn't want to own Merck. "If you like Merck, you'll love Schering-Plug (Plough). You get all the upside of the cholesterol drug with none of the downside of the medication risk."

Volt: "Two thumbs up, way up. I want you to stick with Volt right through the week."

Basic Energy: "I think it's dramatically undervalued. ... I think Basic Energy at 26 lagged today with the whole group en fuego." Cramer said he would do a 'mon back.

Chicago Bridge: "Accounting irregularities equal sell. I want you ixnay CBI and toward Fluor and the Foster Wheeler."

Teva Pharma: "Merck has declared war on the generics. ... I think Teva bounces next week, and then you sell it."

Dell: "I'm still gonna send you out of Dell and into Hewlett-Packard."

RadioShack: "You come to me at the end of the Lightning Round with that nonsense?" Cramer offered Best Buy and Circuit City.

Lightning Round

Cramer was bullish on Coherent (COHR Quote), for which he issued a mea culpa for mistakenly labeling it a bear on Thursday; Newell Rubbermaid (NWL Quote), Alliant Techsystems (ATK Quote), Pantry (PTRY Quote), Serologicals (SERO Quote), Baxter(BAX Quote), Rio Tinto (RTP Quote), BHP Billiton (BHP Quote), Foster Wheeler (FWLT Quote), ABB(ABB Quote), Schering-Plough (SGP Quote), Volt Information Sciences (VOL Quote), Basic Energy Services (BAS Quote), Hewlett-Packard (HPQ Quote), Best Buy (BBY Quote) and Circuit City (CC Quote).

Cramer was bearish on Sirius Satellite Radio (SIRI Quote), Pactiv (PTV Quote), AT&T (T Quote), Sprint (S Quote), Verizon(VZ Quote), Casey's General Stores (CASY Quote), Adtran (ADTN Quote), Shaw Group (SGR Quote), Merck (MRK Quote), Chicago Bridge & Iron (CBI Quote), Teva Pharmaceutical Industries (TEVA Quote), Dell (DELL Quote) and RadioShack (RSH Quote).

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

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