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Lightning Round: Sprint Nextel, Gannett, Hess and More

Sprint Nextel : "There are some corporate bonds that I like that I think would be better than owning the common stock," Cramer said. "The stock is an option and as long as you recognize that it's just an option, that's fine. It's not much of a common stock."

Gannett : Being as this McLean, Va.-based media company owns various newspapers, Cramer isn't interested in owning its stock. He thinks print is a dying medium.

When it comes to media-related stocks, he prefers Meredith .

AT&T : This wireless provider will likely deliver strong quarterly results on Tuesday, Cramer said. Nevertheless, he prefers rival Verizon Communications because it's selling more Apple iPhones.

FARO Technologies : At this point in time, Cramer said he can't recommend a new technology stock.

Hess : While this stock may seem inexpensive, Cramer said the oil and gas company has underperformed and is undermanaged. He's not interested.

Pengrowth Energy : Considering how greatly this stock is down, Cramer is a buyer. He thinks the action to the downside is simply an overreaction.

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