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Stocks discussed on the Lightning Round segment of Jim Cramer's Mad Money Program, Tuesday July 16.

Bullish Calls:

Exelixis (NASDAQ:EXEL): "I like the ones doing treatment with cancer work. This is a spec, and I like it."

Advanced Micro Devices (NYSE:AMD): "I've been recommending it."

Microsoft (NASDAQ:MSFT): "I've been recommending Microsoft on the Xbox. That is much better (than Activision)."

Gigamon (NYSE:GIMO): "Not bad. I like it."

Bearish Calls:

Tesla (NASDAQ:TSLA): "Goldman put out a really bad note today that even in a bullish case, it doesn't deserve to trade where it does ... I've said it is a cult stock, and it remains a cult stock. I don't opine on cult stocks."

MannKind (NASDAQ:MNKD): "It is a spec stock. I've not been behind it. I see the run it has had, and all I can say is congratulations to those who own it."

Deluxe (NYSE:DLX): "It is a good company. It doesn't have the growth I liked. I'm not going to recommend it. I used to recommend it on a yield basis. I'm not going there."

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Source: Cramer's Lightning Round - Tesla Remains A Cult Stock (7/16/13)