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Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Wednesday July 12. Click on a stock ticker for more analysis:

Bullish calls:

Sony (NYSE:SNE): 'SNE is probably 2 down, 7 up. I'm throwing you a bull!'
GameStop (NYSE:GME): ' ... kind of evaporated down from 49 to 36, given the fact that we've got two new systems coming, not just one. We've got Playstation coming and Nintendo. I think you hold it until the Summer, it hits $33 and then you back up the truck, because that stock's going to go higher.'
Estee Lauder (NYSE:EL): 'has become a serial under-performer. And yet, because of the cycle ... that's rolling over, EL makes sense.'
Sears Holdings (NASDAQ:SHLD): ' ... For some reason, the SHLD buyback wasn't there, perhaps just because they can't buy back stock in the last half hour; the stock plummeted 8 bucks ... I think that's a buy in a bull or a bear market ... I'm taking two thumbs up right here!'
Yamana (NYSE:AUY): ' ... $10 stock. Two thumbs up to AUY!'
Smith & Wesson (SWB): ' ... SWB is not done going up, and the reason is the U.S. government decided to make it so that you can't sue them anymore. So, all their money ... was all levered toward legal fees. Now, they've got SWB clothing.... Stay long!'
Altria (NYSE:MO): 'That company is going to split into three companies: Domestic - going to have a high yield; International - high growth because of China; and Kraft, which is starting to come alive with pleasure. $77 today, goes to $100. You stay with MO and, if it drops to $75, you do a 'mon-back!'
World Wrestling Entertainment (NYSE:WWE): 'I think that WWE has momentum.'
Legg Mason (NYSE:LM): ' ... now almost at its 52-week low at $92 a year ago.'
Continental Airlines (CAL) : ' ... is going to have a blowout quarter. It was downgraded the other day by Merrill Lynch and it didn't even go down. And it was up today. That says to me - CAL at $31 goes to $36. Stick with CAL.'

Bearish calls:

Avon (NYSE:AVP)
Newmont Mining (NYSE:NEM)
Martha Stewart (NYSE:MSO):
'MSO has no momentum.'
Janus Capital (NYSE:JNS): 'I think that JNS is probably cheap but ... JNS, I have got to gong.'

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Source: Jim Cramer's Lighting Round Stock Picks 7/12