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Lightning Round: It's up a lot & could roar higher

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:

Valero Energy: "The stock doesn't even yield that much. The master limited partnerships are all just going down. We are not going to buy these things until we get a little pick-up. I don't trust the bottom is in yet in the MLPs."

Activision Blizzard: "I think it's absolutely terrific. I think you made the right move, I like the products. I like that last quarter, I think you are going to make some money in Activision. It's already up a lot, but I think it can go even further."

Ferrari: "No, you want to by the parent. You want to buy Fiat Chrysler, which is much cheaper. That's the way to play it. Period. End of story."

Exxon Mobil: "It's got to come down a little. It just had a big spike. In the mid $70s I would buy the stock, and not before then."

Seattle Genetics: "Goldman started with a sell, and thought that the sell actually sounded pretty compelling. We've been off and on for this stock, and you know I like the four horsemen now. You've got to stick with the big, major biotechs. It's a little dicey out there otherwise."

BP PLC: "Okay British Petroleum yields 6.8 [percent] that's why people want it. I say take a little bit lower yield and more growth and buy Occidental as we are for our charitable trust. I think it's got more growth, and I like growth."

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HSBC Holdings: "I like that. A 5 percent yielding bank with some good exposure overseas that I think can work. And I like the banks here because the Fed is going to raise rates. I think it's a good idea."

NRG Energy: "No. If I want a utility, I'm going to go do American Electric Power. NRG doesn't have the yield. NRG has been a very big disappointment ... Wow now it does have the yield, but it's got the yield for the wrong reason. It's because the stock has fallen so much. And that is what we call a red flag."

Alcatel Lucent SA: "It's not going to be much upside from here. I think you should just ring the register, frankly. There is just not enough there. I know you've had it for 100 years, but there is some other stocks out there that are so much better."

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