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Cramer: The only $5 stock I like

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:

Manitowoc Company: "After listening to that Caterpillar conference call today, I kind of feel a little bit emboldened. You might actually get a bit of a pop in MTW, for speculation only. A $5 stock that I like."

Skechers: "We have to have them on. We've got to figure out what went wrong with the quarter. I think it's premature for me to be able to just bless that."

Frontier Communications: "I think it's fine. It's kind of like a bond, but you know I like a little growth, too. Verizon was getting hit off of the numbers today and I like that one. I like AT&T, they don't give you as much yield but they give you some growth."

LTC Properties: "It's been red hot, but in that area you know that I favor Ventas with Deb Cafaro. That's who we are going to go with. We are going to stick with who has made us all that money."

Pure Storage: "Flash enterprise. I've met with them, I think it's an interesting company. But you know what, there is so much good stuff happening in that space in terms of all sorts of technology. I actually would prefer if you to be, if you want to be in enterprise storage solutions, to be in HPE. You should go with Meg Whitman. I think that's the best bet."

U.S. Bancorp: "U.S. Bancorp is OK. You need a Fed rate hike in order to be able to make that one go, and I don't want to sit here and wait for it."

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