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:
Disney: "This stock acts terribly ... It acts terribly, which means short term I don't like it. But longer term I am a passionate believer in the franchise."
Tech Data: "I like Tech Data. Boy, it really kicked Avnet's butt, I have to admit. I think it's a good situation. It's got a lot of European exposure, I like that, too."
Avid Technology: "I always wondered why they don't get a takeover bid. Their technology is superior ... but you know what, I think if you want to go, even though it's got much more cloud — if you really want to go with much more editing, go with Adobe. Boy that is one of my absolute favorite tech stocks."
IBM: "I have liked IBM since it bottomed at $140. I am not pounding the table, but I do agree with you that it is an inexpensive stock with a good yield and I think it is going to have a decent quarter. But remember, there are many companies that think they are cloud kings. This is one of them."
Corrections Corp of America: "No, it's got headline risk really bad ... I don't want the headline risk."
Cummins: "Cummins went down yesterday because Navistar got a big investment from Volkswagen, which therefore makes it so Navistar is not going to go under. Some people thought it was, so Cummins got hit. Someone said negative things about Cummins today. I like Cummins, and I really like Caterpillar. Deutsche Bank is dead right about the gross margins, I like them both."
Sage Therapeutics: "Typically these secondaries have worked very well in this industry, and it did get the breakthrough designation. That is an opportunity, but I wouldn't overstay my welcome, because I like companies that have a very good balance sheet and don't need to raise capital."