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Stocks discussed on the Lightning Round segment of Jim Cramer's Mad Money Program, Wednesday July 17.

Bullish Calls:

Lions Gate (NYSE:LGF): "I thought it was going to be a really good stock, then I thought it was out of gas. I was wrong. It is a good stock and it will remain a good stock. They are great, creative and have the right programming."

Exxon Mobil (NYSE:XOM), EOG Resources (NYSE:EOG), Occidental Petroleum (NYSE:OXY): "Exxon is fine. That is a good stock. EOG is better. Occidental has a lot of upside."

Johnson & Johnson (NYSE:JNJ): "This stock has been up in a straight line. It has the best balance sheet in the industry, and within its four walls, it has the greatest undervalued asset-- consumer products. It can go over $100. I hope it comes in so we can buy JNJ. This one is for me."

Bearish Calls:

Walter Energy (NYSE:WLT): "I feel better about Walter Energy. I don't want to pull the trigger on it, but it is too late to sell."

Chart Industries (NASDAQ:GTLS): "It has had a miraculous run. It is doing well. I'm concerned about China exposure. If it does come in, we can talk about it again."

Lululemon (NASDAQ:LULU): "The CEO is departing. I want to see how the company is doing, but for right now, I'm not going to pull the trigger."

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Source: Cramer's Lightning Round - Lions Gate Will Remain A Good Stock (7/17/13)