Jim Cramer's Mad Money Lightning Round Picks 6/23

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Friday June 23. Click on a stock ticker for more analysis:

Bullish calls:

Coherent (COHR)
Newell Rubbermaid (NWL): 'I think it's got more consistent growth and great management - from Procter & Gamble, that fellow, Ketchum. Stick with me on that one!'
Alliant Techsystems (ATK): ' ... ATK is one of the best, best defense contractors out there. I'm doing a 'mon-back below $70.'
Pantry (PTRY): 'is down badly, despite the fact that they keep hitting their numbers, and growing faster.'
Serologicals (SERO): ' I realized that we could use SERO as an example of what could be marked up. This is a 52-week high NASDAQ stock that does life sciences. You stay in SERO - I bet you it's marked up next week, and then you can do a little schnitzelling, but not until then. Great call.'
Baxter (BAX)
Rio Tinto (RTP): 'RTP - That is just a terrific company ... the 'Whole Foods' and 'Safeway' of the minerals business.'
BHP Billiton (BHP)
Foster Wheeler (FWLT)
ABB (ABB)
Schering-Plough (SGP): 'If you like MRK, you'll love SGP. You get all of the upside of the cholesterol drug, without the downside of the litigation risk.'
Volt Information Sciences (VOL)
Fluor CP (FLR): 'May I suggest FLR for infrastructure.'
Basic Energy Services (BAS): 'I think it's dramatically under-valued ... BAS, at $26, lagged today ... I would buy it right here and do a 'mon-back.'
Hewlett-Packard (HPQ)
Best Buy (BBY)
Circuit City (CC)
Volt Information Sciences Inc. (VOL): 'This is another candidate to be marked up later in the week. This does staffing services and it does it well. I think VOL is two thumbs up, way up. I want you to stick with VOL right through the week.'

Bearish calls:

Sirius Satellite Radio (SIRI)
Pactiv (PTV)
AT&T (T)
Sprint (S)
Verizon (VZ)
Casey's General Stores (CASY): 'Good, but I want higher growth.'
Adtran (ADTN): 'When this stock gets hot, you can own it. But, when it's not hot, you've got to do a sell.'
Shaw Group (SGR): ' ... is probably the least good one of that whole segment.'
Merck (MRK): ' ... MRK's got new management; they're obviously more aggressive. Just witnessed their pricing in Zocor vs. the generics. That said, the plaintiff's bar has a bead on MRK and it feels an awful lot like A.H. Robbins to me. I don't want to touch MRK.'
Chicago Bridge & Iron (CBI): '... even though they've cleaned up the books ... accounting irregularities equal sell!'
Teva Pharmaceutical Industries (TEVA): 'MRK has declared war on the generics, and MRK is going to win. I think TEVA bounces next week, and I think you sell it then.'
Dell (DELL)
RadioShack (RSH)

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