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Lightning Round: Caterpillar, Exelixis, Photronics and More

Caterpillar : Despite the U.S. debt crisis and a possible slowdown in China, this farm and construction machinery maker's stock is a buy, Cramer said. He thinks it represents great value.

Exelixis : Diagnostic cancer companies are teriffic bets, Cramer said. He's a buyer of EXEL.

Photronics : Being as summer is typically a slow time for technology stocks, Cramer doesn't like most tech names right now, including this photomasks maker.

Buckeye Partners : "This is exactly what you should be buying," Cramer said of BPL. "Great yield, really steady cash flow."

PPL Corp : Cramer likes this stock, especially because it yields 4.9 percent.

GlaxoSmithKline : The "Mad Money" host said he's bullish on this drug manufacturer.

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