Jim Cramer's Mad Money Lightning Round Picks 6/21

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 |  Includes: A, ARLP, BAC, CCTYQ, CKH, CVX, F, FRO, GEC, HLT-OLD, HP, KBH, MCHP, MHGC, QCOM, RAD, SIMG, TLM, TOL, TRN, TSM, TXN, USB
by: Miriam Metzinger

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Wednesday June 21. Click on a stock ticker for more analysis:

Bullish calls:

Helmerich & Payne (NYSE:HP): 'All the contract drillers are under pressure ... but when HP reports, it will be magnificent. That will be your salvation. Stay in it. One and a half thumbs up.'
Openwave Systems (OPWV): 'Petersmidt is good. OPWV - I'm not giving up ... I'm doubling down!'
Agilent Technologies (NYSE:A) : 'A did such a great job on the quarter last time, I think it could happen again. I think A, at 32, is a buy.'
Bank of America (NYSE:BAC): 'If you want yield, and you want buyback, I send you to BAC.'
Talisman Energy (NYSE:TLM): TLM, at $15 ... It's a bargain until it gets to $18... I would actually do a 'mon-back here.'
Rite Aid (NYSE:RAD): 'At $4.50, I think the stock could go up to $6. It didn't give up a single point during the big selloff. '
Chesapeake Energy (NYSE:CHK): 'All right, Aubrey McClennan ... He's been doing a hand-over-fist buyback. He has always been right. Buy CHK at $29. I think the stock's going to $34. '
Qualcomm (NASDAQ:QCOM): 'great intellectual property. Six straight times it has upped the estimates. '
Microchip Technology (NASDAQ:MCHP): First, we play it with MCHP. We like MCHP very much ... the CEO ... didn't give us a real insight to what to look to how he was doing with big-screen TVs, but the numbers are good.'
Circuit City (NYSE:CC): ' ... we play it with CC, of all places, because that has the most big-screen TVs.'
Chevron (NYSE:CVX)
Texas Instruments (NYSE:TXN):
'They make Digital Signal Processing (DSP). I absolutely like their business model. The stock's been stuck at $30. That's my favorite in the group. Go buy TXN.'
Hilton Hotels (HLT-OLD)
Frontline (NYSE:FRO):
' Tanker stocks have picked up in the last four weeks ...It's got a nice yield. Remember, though, it's levered to how many ships, not to oil prices. I think when this stock goes back to $40, we're going to ring the register.'
KB Home (NYSE:KBH)
Trinity (NYSE:TRN):
' ... TRN just boosted estimates ... Stick with TRN!'

Bearish calls:,

Eagle Materials (NYSE:EXP): 'We liked EXP 50% ago. I think we've overstayed our welcome.'
U.S. Bancorp (NYSE:USB): ' ... it's still not cheap. The book value here is $10. I don't like to buy banks for more than 2x book value.'
Ford Motor (NYSE:F)
Taiwan Semiconductor Manufacturing (NYSE:TSM)
Toll Brothers (NYSE:TOL)
Silicon Image (NASDAQ:SIMG)
Morgans Hotel (NASDAQ:MHGC):
'They actually don't really own anything.'
Alliance Resource Partners (NASDAQ:ARLP): 'I think that ARLP will not give you the growth you want.'
American Railcar (NYSE:ARI)

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.