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:

Potash merger talks with Agrium: "I like it. I think at this level, Potash is a buy because together you get that retail operation of Agrium and the wholesale of Potash. It makes sense. Stay in that one."

Incyte Corp: "That's highly speculative. It does have a good franchise ... I think I want to hold off for now. I think September could be a dicey month for stocks like that."

Novocure: "Only because you framed it as a speculative position will I bless that idea. Because man, is that ever speculative. Loss is as far as the eye can see."

Cheniere Energy: "I can't go with it because the man who built the company, Charif Souki, is no longer there. He was the reason why we got involved in that thing around $8. I can't look back. We had a good investment. No-go back."

Yelp: "I liked Yelp's quarter. I think the stock really delivered. When they deliver they tend not to deliver for only one, they will deliver for more."

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