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:

CSX Corporation: "You're going to hold it. You're going to hold it because I think that [CEO] Hunter Harrison is doing a good job, but more important, I like the rails. Union Pacific is my favorite, though."

J.M. Smucker Co.: "I've been against that. I mean, it's a nice company, they're very well-run, but it's in the wrong sector and they're not doing the job. [On] J.M. Smucker, I am still saying don't buy."

EQT Corporation: "They got approval. It looks like one of the proxy firms said yes to the deal. I want you to sell the stock. It's up on a spike, and let's just take some profits."

Baozun Inc.: "I like it. We had them on. I thought they told a very compelling story. I think it's a great long-term hold."

JetBlue Airways Corporation: "You want to buy Southwest Air. It's down and it shouldn't be down this much. It's an ActionAlertsPlus club name. The stock got pulverized. We sold some at $59. It's back to $54. Pull the trigger on that one."

Novartis AG: "We're going to stay away. We're not recommending a lot of pharma here. We think it's in the crosshairs of the government. We also think, by the way, that the slowing growth of the drug companies is the exact opposite of the industrials."