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:

Sprint: "Sprint had a decent quarter. And that's why I can't hate the stock. It's a decent spec now, the quarter was that good. I do like T-Mobile and I like Verizon more. T-Mobile for growth, and Verizon for dividend."

Ameriprise Financial: "The stock has come down too much. I kind of like it here. It's got a 3.3 percent yield. You buy some here, maybe you buy some at 4 percent yield. That stock is overdone on the downside."

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FedEx: "I don't like the transports here. We've got to wait for stabilization. Believe it or not, this one is being pulled down by UPS, which is not doing nearly as well as them. UPS has to stabilize before I would ever pull the trigger on FedEx."

TrustCo Bank: "It's a solid bank but we are not recommending banks. It's got the wrong yield curve, we don't have the Fed in our corner. We've got to wait and see."

Skyworks Solutions: "Why would we want to be in Skyworks, which is too levered to cellphones, when we could be in NXPI, which we had earlier this week. It's about the internet of things and autos and NXPI yes, Skyworks unfortunately no."

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