Here's what Cramer had to say about callers' stocks during the "Lightning Round": Exxon Mobil ( XOM): "No one ever got hurt owning it. I like Chevron ( CVX), Exxon is just OK in my book." Diageo ( DEO): "These are terrific stocks. They are the best." Leap Wireless ( LEAP): "Look before you leap. I think you should buy Sprint Nextel ( S)." Duke Energy ( DUK): "I'm a buyer of Duke, even though I don't like their boardroom manners." Gannett ( GCI): "I'd like it to come in a little. They're money." Hovnanian Enterprises ( HOV): "No, I'd rather see you in Weyerhaeuser ( WY)." ConocoPhillips ( COP): "It's OK. Chevron is cheaper and has more growth." Tenaris ( TS): "It's not bad but you can get Schlumberger ( SLB) for a discount. I'm going there." Sirius XM Radio ( SIRI): "The bears are putting a cap on that stock, but I'm a believer."
It used to be that fall was the time to buy all things tech, Cramer told viewers, but in today's market technology is more treacherous than ever, as a recent downgrade of the entire semiconductor equipment sector further illustrated. But are there any bright spots worth owning? Cramer said even with new product cycles from Intel ( INTC) and Microsoft ( MSFT), the PC market has gone from fast growth to slow growth to no growth to declines. He said that Apple ( AAPL), a stock he owns for his charitable trust, Action Alerts PLUS , remains the only player in that cohort. The rest of the PC makers and suppliers remain value traps, said Cramer, including AMD ( AMD), Micron ( MU), Nvidia ( NVDA) and Xilinx ( XLNX). He said only Broadcom ( BRCM) and Qualcomm ( QCOM) have any upside potential. In the big data space, Cramer said he likes EMC ( EMC), but wouldn't extend that logic to include servers or disk drive makers. He remained bullish on Google ( GOOG) and said that consulting plays like IBM ( IBM) are also strong. Finally, Cramer said that Facebook ( FB) might be worth owning as the company may be getting its act together after seeing its shares falter for so long.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer spoke about his earlier interview with Starbucks ( SBUX) CEO Howard Schultz. He said that investors want to be betting with, not against, Schultz, who is setting up his company for a third round of growth. Cramer was less optimistic on Green Mountain Coffee Roasters ( GMCR), currently a Starbucks partner but also a company that will eventually become the competition as Starbucks unleashes its new Verismo coffee maker to the public. --Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDCTo watch replays of Cramer's video segments, visit the Mad Money page on CNBC.