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Lightning Round: Transocean, Hudson City Bancorp, Best Buy, Illumina and More

Transocean : While likes this oil and gas drilling and exploration company, he prefers Ensco because "you get a lot of the same power and it's cheaper."

Natural Resource Partners : Cramer said he's bullish on coal companies right now, including NRP. He would wait for a pullback before buying shares, though.

Hudson City Bancorp : The "Mad Money" host said this Paramus, N.J.-based financial instution turned out to be "far more controversial" than he realized it would. For those looking regional bank stock, he suggests First Niagara Financial Group .

Best Buy : Avoid shares of this electronics retailer, Cramer said. He called Best Buy a "declining asset" and would rather see investors buy shares of Amazon.com , the world's largest online retailer.

Illumina : "The sweet spot in this market is medical devices and companies that allow you to be able to do more gene sequencing," Cramer said, adding ILMN is a "buy, buy, buy."

Hershey : Cramer thinks this chocolate maker's stock could go higher.

Regions Financial : For Cramer to recommend this stock, he would need to see the company with a new management team.

Qualcomm : If Cramer had to select a semiconductor, he would go with Qualcomm because he thinks it's the best 4G play and has a great management team to boot. But he doesn't like technology stocks right now.

Hercules Technology Growth Capital : Cramer would like to do research on this company before making a call.

When this story was published, Cramer's charitable trust owned Ensco.

Call Cramer: 1-800-743-CNBC

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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