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Stocks discussed on the Lightning Round segment of Jim Cramer's Mad Money Program, Wednesday July 31.

Bullish Calls:

Regeneron (NASDAQ:REGN): "Is the real deal. It has two drugs in the pipeline that I think are gigantic. That stock could go up substantially."

US Airways (LCC): "I want you to be in US Airways because of that merger with American Airlines."

CVS Caremark (NYSE:CVS), Rite Aid (NYSE:RAD), Walgreen (NYSE:WAG): "CVS is terrific. After that I like Walgreen. Rite Aid is coming back."

Apple (NASDAQ:AAPL): "Apple is an inexpensive stock. If it releases another product, it could go higher."

Phillips-Van Heusen (NYSE:PVH), VF Corp. (NYSE:VFC): "I like PVH. VF Corp. is an opportunity. Its business is doing well."

Cummins (NYSE:CMI): "I prefer Cummins (to Westport)."

Bearish Calls:

Alaska Airways (NYSE:ALK): Cramer prefers US Airways.

IBM (NYSE:IBM): "Margins are under pressure. IBM is having to shift to cloud-based things and it is not making as much money."

Teva (NYSE:TEVA): "I'm worried about Copaxone. That is their one non-generic drug. The long knives are out for Teva. The stock acts poorly. It might barely make the numbers. It is not my favorite pharma."

Fifth & Pacific (FNP): Cramer prefers Phillips-Van Heusen or VF Corp.

Intuitive Surgical (NASDAQ:ISRG): "One of my colleagues, Herb Greenberg, has thrown a red flag on ISRG. I am not going to touch a stock Herb Greenberg thinks is difficult."

Westport Innovations (NASDAQ:WPRT): "People keep thinking it is going to be competing with Cummins, but they are partners. I prefer Cummins right now. Westport is in danger of being eclipsed by other engines, and that is why I think it is too speculative."

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Source: Cramer's Lightning Round - Regeneron Is The Real Deal (7/31/13)