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Lightning Round: Michael Kors, Morgan Stanley & More

Vasiliki Varvaki | E+ | Getty Images

Get ready for the Lightning Round. Cramer makes the call on viewer favorites.

Michael Kors (KORS): Fundamentals are strong, said Cramer. But, I'd wait until the last week of December before pulling the trigger.

Morgan Stanley (MS): I'm not negative on the stock, said Cramer, but in the sector I like Wells Fargo more because it's levered to the housing market.

International Paper (IP): This is a terrific stock, said Cramer. I'd buy a small position here and then if it declines on the cliff, I'd buy more.

Yahoo! (YHOO) For the first time in ages, I feel like the company is coming back due to its new CEO Marissa Mayer, said Cramer.

American Electric Power (AEP): It's a boring stock, said Cramer, but I like its exciting yield. I'm a buyer.

Tractor Supply (TSCO): The stock got knocked down badly, but at these levels I think its ok, said Cramer. However all of retail is shaky right now because of the fiscal cliff.

Cabot Oil And Gas (COG): I think the stock is overvalued, said Cramer. In the space I prefer EQT.