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Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Tuesday January 26.

Bullish Calls:

Flextronics (NASDAQ:FLEX), Jabil Circuit (NYSE:JBL), Sanmina-SCI Corp (NASDAQ:SANM): "FLEX is the Lady Gaga of the contract manufacturing business… it is the queen, or actually, and or king … I think Flextronics is real good… but I have to tell you, Jabil Circuit Inc. is a little bit better, a little bit better than Flextronics… Sanmina-SCI Corp. not as good as Flextronics… but I want to own it, because there is so much business going on in computers… that I think Flextronics has it good, I want to buy the stock."

Altria (NYSE:MO): "I have to tell you that that has got a good yield… you need good yield… that yield is going to protect us and the growth is okay."

Treehouse Foods (NYSE:THS): "I think that those (supermarket) stocks are very difficult to own, the only one is that I want to own that is connected to a supermarket is Treehouse Foods Inc. … because they do private label.. they are the guys who make it so that the guys like Supervalu can really make a lot of money."

Applied Materials (NASDAQ:AMAT): "You know I thought the stock was breaking out the other day, it now looks like it has come back in... however, I think that this is a company that has got a lot of things going… how can I not like Applied Materials? I want to buy right here at $12."

Sempra Energy (NYSE:SRE): "You know I happened to have liked Sempra from the day it was spun off, I think that it is absolutely terrific… I wish that it had a little higher yield than 3%.. but it has got some growth…I agree with you, my friend… I think that is a winner."

Nice Systems (NASDAQ:NICE)

Bearish Calls:

Berkshire Hathaway (NYSE:BRK.A): "Alright, just added to S&P 500 tonight, so it is going to spike up… what do we do with spike ups? We sell, sell... I am not going to kick it to the curb, but I do believe that we have got to wait for the stock to come back in… now that it has been added to the S&P, there is going to be a nice run in it."

3PAR (NYSE:PAR): "...I am not going to recommend it right here… "

SuperValu (NYSE:SVU): "I start thinking about supermarkets, I really want to hold my nose… I think that those stocks are very difficult to own … it is too competitive out there… it is like a war."

Kansas City Southern (NYSE:KSU): "I am on the fence… this is a short line railroad… I am in the don’t buy category until proven that Michael Ward, CEO of CSX, is doing better than I thought… because right now I do not feel that way."

Silver Wheaton (NYSE:SLW): "I like gold more than silver, but that said… gold and silver are both coming down, why? Because China is slowing… and because people are worried about our country…"

A123 Systems (AONE): "Boy, I thought that I had blew this stock because I said do not buy it and then it got a big contract… and then it just plummeted anyway… I am sticking with my don’t buy, don’t buy… it is an expensive stock in an environment where I do not have any hope that expensive stocks will do well."

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Source: Cramer's Lightning Round - The Lady Gaga of the Contract Manufacturing Business (1/26/10)