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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" Wednesday evening:

Canon ( CAJ - Get Report): " Apple ( AAPL - Get Report) is so much better than Canon. I want you to keep looking at Canon, but I want you to buy more Apple. People don't understand the power of the iPhone."

W.W. Grainger ( GWW - Get Report): Cramer said he remembers not long ago when the stock was downgraded. "I had to laugh. You don't downgrade a great American company like Grainger." He said Grainger might be one of the $80-to-$120 stocks he's been talking about on "Mad Money."

Varian Medical Systems ( VAR - Get Report): "Some might think it's pricey. But integrated cancer systems are where the action is. ... That stock is off 12 from its high," and Cramer said it's going higher. He also recommended Hologic ( HOLX), which he owns for his Action Alerts PLUS charitable trust.

Moody's ( MCO - Get Report): "This is what I call a classic battleground -- smart people on both sides. That makes me say, 'You know what? That's too hard.' ... I want stocks with no enemies."

AT&T ( T - Get Report): "This is one cheap stock. ... I think they are visionaries to bet with iPhone before they saw it. They are risk takers. ... I say go buy AT&T. It's just the classic case of a well-run company with a good dividend that's doing well."

Whirlpool ( WHR - Get Report): "This is a hard one for me. ... Everybody's appliance sales are bad, but here's Whirlpool going up. ... At $100, I want to buy it. At $120, I want to sell it."

Bank of America ( BAC - Get Report): "I have been amazed at how poorly the stock has acted. People just think that this company is in big trouble." Cramer said that Bank of America has one point of downside and four points of upside. "That's a thing of beauty, that risk/reward."

Amgen ( AMGN): "I'd rather have you buy DNA ( Genentech ). ... Celgene ( CELG), Nastech Pharmaceutical DNA, and then and only then Amgen. ... I'm warming up to biotech."

Cramer also was bullish on Under Armour ( UA) and Verizon ( VZ). He was bearish on Tyco ( TYC).

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At the time of publication, Cramer was long Hologic.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 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, 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, 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 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, 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.