It's that time again! The Lightning Round bell has rung, and Jim Cramer gives his take on a few favorite audience stocks:

Sprint: "I think now you just have to hold it. It would have been great at $6,$7 or $5, but not here. It's too low. I do think it can go to $3.50, but that's being too clever by half."

Sierra Wireless: "A good company, but right now I prefer for you to go with a combination of Cypress and Spansion, which has a lot more room to grow."

Schlumberger: "I think you have to let it take out its low that was generated during the last time that oil came down. That low is $78, when a pierce is that low and will probably drop to $75. At that price I'm tempted to pull the trigger. But remember this is the only one I'm tempted with because it is the highest quality."

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Prudential Financial: "Prudental put up a great quarter, but at the same time with the shaky hands of this market I think you need to wait until it goes down a couple more points. I do prefer Travelers because they have a more veracious buyback. Travelers would be my pick over the Pru."

Apple: "I think Apple has moved up a lot. There's a lot of profit taking that is happening here, and it could still go down a little bit more. But it is an inexpensive stock with a quality balance sheet and good new products. I am not going to recommend trading Apple."

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