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:

AK Steel Holding: "AK Steel, not my favorite. I like Nucor because I love a good balance sheet. I know steel's letter X is hot. I just want to stick with the one that has been so good for so long, which is Nucor."

Exelixis, Inc: "We liked it much, much lower. It's got a great speculative book of business, but remember it is speculative. That is really important I don't want anyone to confuse this with Merck."

Rite Aid: "My charitable trust owns Walgreens. That is the winner, either way because they just negotiated the price down for Rite Aid. I just think don't buy. Don't fool around with it because we don't know what the FTC is going to do here."

Box Inc: "Aaron Levie [CEO] is doing a really good job. That was a very good quarter. Next quarter I think is going to be even better … by the way, the market cap is very small there. So it's OK. $17 goes to $20.

American Airlines Group: "American Airlines is at the right level. I know that the Bernstein upgrade caught people by surprise. I think that American is good. I like Alaska and I like Southwest, but I think American, that's a good level to get involved."

Corning Incorporated: "Corning has had a big run. I know they are deeply involved with Apple — which you know I say own don't trade — but Corning has had a big run. That concerns me because it has been a hit-or-miss stock. I'm going to say stay away from it at this level.

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