Cramer's lightning round: Auto weakness shouldn't weigh on Illinois Tool Works

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

Illinois Tool Works: "The issue here is [CEO] Scott Santi, who is absolutely terrific, has a big auto business. And even though they said repeatedly that the auto business is getting better, Scott has been under the gun here. I want him to stick by his knitting and just keep doing what he's doing. It's a very similar situation to 3M, another high-quality company that's been hurt by autos. They've got to stick by what they believe in and then the stocks will go higher over time."

Switch, Inc.: "The stock has been a house of pain. And, you know, in retrospect, CoreSite is better because I like a little bit of yield. This is data center management. It's been a tough stock. I'm going to have to look into why the heck that thing keeps going down. That doesn't seem right to me, down 30 percent."

AT&T: "I say yes. Makan Delrahim will be my guest tomorrow [at] The Deal Corporate Governance conference, and I think that what's worrying people is that maybe he's going to stop the deal with Time Warner. And they need that. He is the Assistant Attorney General for Antitrust so I want to hear more from him, but that's what the worry is."

Hertz Global Holdings: "Look, we want companies that are not going to be affected by the sharing economy, not going to be hurt by Uber and don't have a bad balance sheet. Well, you've got a triple-header there, so don't forget about it."

AK Steel Holding Corporation: "You know, it is not primary. It is not my one. I like Nucor, up another dollar today. I think it's much better. My charitable trust owns that one; pay up, pay up and pay up."

Watch the full lightning round here:

Disclosure: Cramer's charitable trust owns shares of Illinois Tool Works and Nucor.

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