Cramer's 'Mad Money Lightning Round': AT&T on the Cheap

To see the full "Mad Money" Recap, please click here.

---

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:

Amgen(AMGN - Cramer's Take - Stockpickr): "I like Amgen at 69 ... I have to find out what's going on with this Aranesp [drug]."

Pain Therapeutics(PTIE - Cramer's Take - Stockpickr): "Sells at 60 times earnings ... I think it's too risky. I honestly would rather see you in a Celgene(CELG - Cramer's Take - Stockpickr) ... particularly if you can get it under 50."

Salesforce.com(CRM - Cramer's Take - Stockpickr): "I think the stock should be lower. I do not get why that stock hangs in in this bad market. ... I don't like it."

AT&T(T - Cramer's Take - Stockpickr): "Tomorrow morning ... it would be a gift if that stock opened down." Cramer likes the company's "yield protection, buyback and superb management. It fits all my criteria."

Retail Ventures(RVI - Cramer's Take - Stockpickr): "We are strictly in a no-prisoners mode. You take that and you ring the register. Out of Retail Ventures and into J.C. Penney(JCP - Cramer's Take - Stockpickr). "

Playtex Products(PYX - Cramer's Take - Stockpickr): "That kind of consumer-related business is not going to have a slowdown here." But Cramer says that Colgate(CL - Cramer's Take - Stockpickr), Diageo(DEO - Cramer's Take - Stockpickr). (which he owns for his Action Alerts PLUS charitable trust and Procter & Gamble(PG - Cramer's Take - Stockpickr) are higher-quality plays.

Choice Hotels(CHH - Cramer's Take - Stockpickr): "Been doing a lot of work on Wyndham(WYN - Cramer's Take - Stockpickr)," which Cramer prefers, along with Hilton(HLT - Cramer's Take - Stockpickr). He says they're both cheaper and better.

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