Cramer's 'Mad Money Lightning Round': Amgen a Gem

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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" Tuesday evening:

Emmis Communications(EMMS): "Welcome to the world of terrestrial radio, which every day loses more adherents ... and is generally in a tailspin that it cannot stop. ... You should sell any terrestrial radio stock that you have."

US Airways(LCC): "Right now I like UAUA (UAL). ... I would ring the register US Airways."

Knology(KNOL): "I like LVLT (Level 3 Communications) ... been doing 'mon backs* since 3. LVLT is my gift to you."

Allis-Chalmers(ALY): "This stock is actually on a roll ... I want to ring the register and roll into ... Halliburton(HAL)," which Cramer owns for his Action Alerts PLUS charitable trust.

Genentech(DNA): "Waffling between 80 and 85 ... but if you want something now in your tank, I am giving you Amgen(AMGN)." Cramer also said don't forget Celgene(CELG) and its successful drug Revlimid.

Quest Software(QSFT): "It is too speculative, sir. ... One of those 20% mad money plays, and I will not bless it otherwise."

Pacific Ethanol(PEIX): "I cannot countenance that. .... I have been saying that ethanol has been dead now for at least six weeks. ... SellSellSell."

Noble(NE): "Going nowhere my friend. That stock is flat-lined." Cramer offered Transocean(RIG) instead, which he said has the best offshore profile.

Bema Gold(BGO): "I like Bema Gold ... but ever since it was at eight smackers, we like Yamana(AUY)."

PSE&G(PEG): "Doesn't have a good-enough yield. ... Pull the trigger TXU(TXU)."

Lowe's(LOW): "You stay in [BuyBuyBuy] Lowe's."

*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.

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