It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed:

Alaska Air Group: "I like Alaska Air. I know I'm alone in still liking the airlines. I don't care. I think they're inexpensive stocks."

KBR Inc.: "OK, that's a construction company. Could be an interesting play off of what's happening in Houston, but I am going to say let's hold off because it has too much energy exposure."

Corcept Therapeutics: "Oh man, the stock's up 100 percent. But, you know, look, they have the possibility of something for psychiatric disorders, therefore I'm going to tell you that I think that the company's a good spec. Because I know that there's a lot of buzz about what this company's up to."

First Solar Inc.: "This company's coming back. They've lowered their costs. They're doing a lot of things right."

Allison Transmission Holdings: "Allison Transmission is much more related to trucks than cars, therefore I think it shouldn't be going down."

Apache Corporation: "What I have been telling people in the [ActionAlertsPlus.com] club is that you cannot buy any more Apache yet. We have a position for the club. I've been saying now for literally 10 [basis] points, don't touch it. There will come a level where I think it can be justified. We are not at that level yet."

Disclosure: Cramer's charitable trust owns shares of Apache.