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Lightning Round: It's behind the growth stock pain

It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Palo Alto Networks & Cyberark: "These are both very good companies but they are high growth companies, and my theme for tonight is right now we are not paying as much for growth as we were. This means the stocks have to come down to levels where people find buyers, whether it be Disney, Palo Alto or Cyberark."

Opko Health: "They made the acquisition and no one liked the acquisition. The stock has been going down ever since. We need to have Dr. Frost come back on and explain to us why he did the acquisition because it has clearly hurt the stock a lot."

3M: "Inge Thulin is doing a good job. They missed the quarter last time. With the dollar where it is they probably won't make the quarter, and I know the chart is absolutely horrible. So why does my charitable trust own it? Because we are trying to take a longer-term view. We are alone in trying to take a long-term view, but I think 3M is going down. There. I just don't know how I can be so well-timed to be able to buy more at the bottom. So we hold on and we will buy more at a lower level."

Exelexis: "Fantastic results they had on their last test, which is why I have been sticking with it. And even though they failed a couple of tests beforehand, they are good to go."

Occidental Petroleum: "I like Occidental. Why do I like Occidental? Because it has great liquidity, has a 4.2 percent yield and if oil comes back it is the most levered to oil. That is why my charitable trust owns Occidental. I do not want to leave this group entirely because what if oil only goes down $5. What are you going to do? Are you going to time it perfectly to be able to pick up some? Because Occidental's got that yield."

Read more from Mad Money with Jim Cramer

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Alibaba: "No [don't hang on to it]. It's China. And I'm not recommending anything China because I think China is the proximate cause of what is really ailing a lot of growth stocks in our country. China is not a good place to invest right now. Just not a good place."

Express Scripts Holding Company: "I like Express Scripts, but it was up $1.50 yesterday on takeover talks and it's only down $1.50 today so it probably has lower to go. Let's wait on that one. CVS, Rite-Aid and Walgreen are better, as is McKesson."

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