Cramer's lightning round: Don't give up on the sliding Schlumberger

  • 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.

Schlumberger NV: "You actually want to be a buyer of Schlumberger, not a seller. We came out this afternoon for club members of ActionAlertsPlus.com and said, 'Don't give up on this.' The CEO was more negative than he had been before about the Permian [Basin]. I think it's an opportunity; 3 percent yield."

CommScope Holding Company Inc.: "Holding company for optics and for communications… why not just go buy Cisco? And I say that grudgingly because [Cisco CEO] Chuck Robbins is a huge Atlanta Falcons fan and I will be seeing him at the big game."

Tyson Foods, Inc.: "No. Ix-nay on Tyson-nay. They missed the last quarter badly. I prefer in that sector Conagra. They figured out some millennial buying patterns."

Sprouts Farmers Market: "They're the independent after Whole Foods, and I've got to tell you, the stores are great. I had the pleasure of visiting one and yes, you're dead-right [about their savvy merchandising]."

Vail Resorts: "I've been recommending this thing literally forever. This is just an absolutely terrific play on basically the outdoors and experiential economy and that's what it's going to stay as."

Kinder Morgan: "No. Look, these pipeline companies… I've got to tell you, we need a lot of pipelines to the Permian and out of the Permian, but until we get some more consolidation in this group, I can't recommend it. I just can't."

Activision Blizzard: "Esports is going to be so huge. They are in a battle royale. Everything's coming their way. I think Activision Blizzard… Now, we sold it for the trust. We'd love to buy it back. Take-Two? Equally as good."

Citigroup: "I think that [CEO] Michael Corbat is doing a remarkable job. I think they're buying back stock left and right. I think this is one of the cheapest- no, it's the cheapest bank stock. My charitable trust owns it; you can follow along at ActionAlertsPlus.com."

Watch the full lightning round here:

Disclosure: Cramer's charitable trust owns shares of Schlumberger and Citigroup.

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