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:

Rite Aid: "I want to own Rite Aid. I'm not going to tell you to buy it right here because I've been telling people to buy it for a very long time. But I do think that some deal gets done. If not by Walgreen than by somebody else."

AbbVie Inc: "There was some Gilead news today that's not as good for its Hep C drug, which means that AbbVie is going to go up. AbbVie reported a great quarter."

ONEOK, Inc: "I think the group is in a bearish phase. It's been one of the horrendous bear markets within a bear market, which is the partnerships. That said, I think if you sit tight and own it you're going to do fine. I would not pull the trigger and get out."

Halozyme Therapeutics: "I really like that company ... I did this biotech bible for TheStreet.com. this one continues to surface as one that I want you to own."

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Sinclair Broadcast Group: "It is so well-run. This may be the best broadcasting stock that nobody talks about. I hope it pulls back so I can do a piece on it and tell people how much to buy it. It's incredibly well-run."

Annaly Capital Management: "I can't recommend it. I don't like that when I see that 12 percent yield, I think immediately red flag and I don't like it. I can't understand the portfolio so I'm not going to recommend it."

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