Jim Cramer's Mad Money Lighting Round Picks 6/22

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Thursday June 22. Click on a stock ticker for more analysis:

Bullish calls:

Qualcomm (QCOM): 'I think that QCOM is going to make that business up ... they've been having a fight with Nokia, that's nothing new. I reiterate my buy on QCOM ... but the company has become the Rodney Dangerfield of wireless (i.e., no respect).'
General Motors (GM): 'best acting stock in the whole DOW ... Bo Anderson today - he's the head of procurement - came out and virtually guaranteed a quarter ... I think GM goes to $30 ... We can't under-estimate the cost savings, or how good the cars are ... It's no longer "generous motors" either; they've been cutting back those big benefits. '
Alamo Group (ALG)
Valero Energy (VLO): ' ... single best refining co. in the world ... at $60, it's a bargain!'
Mitsubishi UFJ Financial (MTU)
LifeCell (LIFC): 'LIFC is going higher, not lower.'
VF Corp (VFC): 'That stock's got the momentum; 52-week high. It's going to be marked up next week.'
UBS (UBS): ' ... unbelievable earnings power, because it is the largest asset management company... A $105 stock, once at $120. I think it goes back to $120.'
Ciena (CIEN)
LoopNet (LOOP)
McDermott International (MDR): 'Day after day, there are big contracts being led to MDR. This stock is a $42 stock, but that's a masquerade. It should be at $50!'
Micron Technology (MU): ' ... the decision to buy Lexar Media will allow them to have more mindshare with Intel (INTC). I think this is a good move by them.'
Continental Airlines (CAL) : 'Earlier this week, in my first and most dramatic endorsement of an airline since 1982, I recommended CAL. I think this company's got its cost down, it's filling its planes, it's going to have a monster quarter and take out its 52-week high. CAL is two thumbs up, way up!'
Southern Copper (PCU)
Arena Pharmaceuticals (ARNA)
Best Buy (BBY): 'Did you see the buyback in action ... That company reported a great quarter; it boosted its dividend; it raised guidance, and it still doesn't get any respect. Well, it does from Cramer. I'm pulling the trigger right here.'
Altria (MO) 'When they spin it off (i.e., Kraft), it will go to $100. MO is a stock that should be bought now!'
Alberto-Culver (ACV): 'I think that ACV should have been up another $5. There are many brokers that said this is much ado about nothing. They are so wrong! $25 in your pocket; two other companies. I add them up, I get $51. I want you to stay with ACV.'
Biogen Idec (BIIB)

Bearish calls:

Western Refining (WNR)
Under Armour (UARM): 'it stalled at $36. It can't get any traction.'
Coherent (COHR)
Hansen Natural (HANS): 'If you want to buy HANS, wait until after the split, wait three days, until everybody's kicked out their stock. And then, and only then, would I buy HANS.'
Electronic Arts (ERTS): ' ... it's got declining fundamentals. I think, at $35, I'm going to back up the truck, ERTS.
Peru Copper (CUP): 'I happen to think that CUP is too speculative.
Elan (ELN)

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