Cramer's lightning round: I was wrong to sell Magellan Midstream Partners

  • 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.

Magellan Midstream Partners, L.P.: "It's going higher. I beat myself up on a [charitable trust] club call today for ActionAlertsPlus saying, 'Listen, I thought that FERC was going to derail these guys. I was wrong.' The company did an amazing job. [CEO] Michael Mears came on this show when the stock was really, really low and said, 'Buy it.' He was right."

Xylem, Inc.: "Like we said last night, we like anything water-connected. It's come down a little bit. It's still up for the year. I'm going to reiterate to buy."

Karyopharm Therapeutics: "You're out there on your own, I've got to tell you, because that is a very, very speculative situation for a billion-dollar company and I cannot endorse it here."

New Residential Investment Corp.: "Very high yield. Don't know whether it can be backed up. Why? Because I don't really know what they own. That's the problem with some of these higher yielders. They've got mortgages [and] I can't figure out whether they're good or not. I'm taking a pass."

Kemet Corporation: "Inexpensive semiconductor company that I think is worth buying. I know it's a little speculative but I think it's a good one."

Iovance Biotherapeutics, Inc.: "Look, we have always said the same thing: oncological specs we are willing to accept as long as we understand that they are specs and nothing more because they tend to get takeover bids."

Casella Waste Systems, Inc.: "I've known them for many years. Used to have a position in them many, many years ago when I was a hedge fund manager. I've got to tell you, I think you should be in Waste Management. Let's go for big and best. Let's go for best of breed."

Boston Scientific Corporation: "No, no, no, [don't buy more]. In fact, I want you to take our your cost basis tomorrow and play with the house's money. [CEO Michael] Mahoney's doing an unbelievable job. We did not see that takeover bid materialize. I don't care. It's an earnings story and they are a remarkable company."

Watch the full lightning round here:

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com