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NEW YORK (TheStreet) -- Here's what Jim Cramer had to say about some of the stocks callers offered up during the Mad Money Lightning Round Thursday evening:

Armour Residential (ARR - Get Report) : "No, when I see these big dividends, it's a red flag. I don't recommend these."

Wabash National (WNC - Get Report) : "That stock has been hammered. I'd consider bottom fishing with this one."

Westport Innovations (WPRT - Get Report) : "I'd take the loss. Natural gas as a surface fuel just didn't happen."

Schlumberger (SLB - Get Report) : "I think you're OK but you need to think longer term."

Melco PBL Entertainment (MPEL) : "No, you're gonna swap out of that one and get into MGM Resorts (MGM - Get Report) , which is the way to go."

Diamond Offshore (DO - Get Report) : "No. This one is too risky. I'd sell this one and buy some Schlumberger." 

Alliant Techsystems (ATK) : "This is a great opportunity. I like the defense stocks. I can't say no to a bullet company."

Energy Transfer Partners (ETP) : "I think this is a good thing to buy here, but there is a little downside risk."

YRC Worldwide (YRCW - Get Report) : "I'll send you to United Parcel Service (UPS - Get Report) . UPS is the way to go."

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-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here: Scott Rutt

At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.