Cramer's 'Mad Money Lightning Round': Hallelujah for Hewlett-Packard

Stock quotes in this article: RTN , FCX , HPQ , CVS , TIE , MNST , SLB , RIG  

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" Wednesday evening:

Sysco (SYY Quote): "It's OK ... as long as the consumer's out there spending ... going to a lot of restaurants ... the problem is they're not going to restaurants as much. Don'tBuy."

Countrywide (CFC Quote): "It's a very technical situation. ... If the Fed cuts 50 basis points, Countrywide will work."

CVS Caremark (CVS Quote): "Not to be confused with CBS (CBS Quote) which would be a disaster to buy. ... I think it's unbelievably strong ... you should get in right here. ... CVS remains one of my favorite stocks in this environment." Cramer owns CVS for his charitable trust, Action Alerts PLUS.

Hewlett-Packard (HPQ Quote): "That was a monster-good quarter. That was an Hallelujah, All-Aboard quarter. ... That company is smoking. ... It's not done. I wanna own Hewlett-Packard ... and so should you." Cramer does own H-P for his Action Alerts PLUS.

Monster (MNST Quote): "I thought that the new management team would turn things around ... Monster and ValueClick (VCLK Quote) remain challenged. ... Monster, I still think, is being set up to be bought."

Boston Scientific (BSX Quote): "Let me be very clear. I have disliked Boston Scientific for more than 10 points. ... If you want to be in that cohort, it's gotta be S-T-J, St. Jude (STJ Quote)."

Titanium Metals (TIE Quote): "You know I'm gonna send you immediately to Allegheny Technologies (ATI Quote). ... I'm willing to have you in Freeport (FCX Quote), cause that's copper and gold."

Schlumberger (SLB Quote): "This is a great opportunity. ... In the last three days ... Transocean (RIG Quote) went from $138 to $127 because they did financing. ... At $128, it's like buying Schlumberger at $85 and Schlumberger's at $95. ... I want to buy more but I keep talking about [Transocean], so I'm frozen."

Taser (TASR Quote): "In this market, it's too hard for me. ... I do not want to buy Taser here. Don'tBuy. ... If you want to be in that kind of eclectic area ... buy Raytheon (RTN 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 by clicking here.

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At the time of publication, Cramer was long CVS Caremark, Hewlett-Packard, Freeport McMoRan, Transocean and and Raytheon.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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