Lightning Round: I prefer this to Alibaba

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

Perrigo Company: "I think it's a bad cold and flu season, and I think Perrigo's stocks should be doing better. I also like all the different optionality it has with all the different possible takeovers. I want you to own it."

PDL Biopharma: "We've got so many great growth biotechs that we have been profiling on the show, I'm going to have to say don't buy."

Ambarella: "It's a short-squeeze over GoPro, we feel like it's got the right guts inside of GoPro. I don't like to play the guts inside unless I'm doing it with SkyWorks, or Cypress Semiconductor."

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Charles Schwab Corp: "It's an expensive stock, we've got stocks like Morgan Stanley that are basically doing the exact same thing and that is a much cheaper stock. I don't want you in Schwab, I want you in Morgan Stanley."

Gilead Science: "Gilead is very inexpensive, it's going to get its fair share. Everyone keeps panicking Gilead, I'm not panicking. I think it's okay but I prefer Celgene, Biogen, and Regeneron."

Alibaba: "We like Yahoo, it has a big stake in Alibaba and they can monetize it and the rest of Yahoo is worth a great deal. Marissa Mayer's doing a good job."

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