It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Apple Hospitality REIT Inc: "I think these are good. I think that this thing yields 7 percent, and that's probably wrong. The stock should be higher and the yield lower. This group has been crushed today, I think it's opportunity."

Omeros Corp: "The problem with Omeros is that you've got stocks like Celgene that are now down so much that you want to start thinking about moving up the quality food chain. It's a nice spec, but the quality food chain has really come down."

Read more from Mad Money with Jim Cramer

Cramer Remix: Most contentious stock out there
Cramer: Welcome, bear! Rate hike already built in
Cramer: A few stocks still running with the bulls

Halliburton Company: "Halliburton is getting interesting, though I do prefer Schlumberger because I've got more clarity on the deal. I don't want government hanging up the Halliburton-Baker Hughes deal. But I like Halliburton, I would leg in right here. $35 would be my first buy."

Wendys: "Wendys, Rite-Aid, a lot of these tertiary plays with drug stores and food are all going down. These are all worries about cost of labor. I think there's opportunity coming but don't be aggressive."

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com