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Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Monday August 2.

Bullish Calls

iRobot (NASDAQ:IRBT): "I think the stock goes higher. I think the revenue ramp is good, and the earnings ramp is good. I disliked the stock for a long time, because I thought it was more promise and hype than it was reality. No more! The numbers are real, and I think the stock goes higher. However, I did hear you have a really big gain. Remember, I'm always saying the idea that bulls make money, bears make money, and hogs get slaughtered. Let's not get ahead of ourselves. How about taking some off, and we can play with the rest... the house's money."

JPMorgan (NYSE:JPM): "No, no, no!... We're not sellers of J.P. Morgan, we're buyers of J.P. Morgan! This is going to be their first really good quarter, finished with financial regulation... obviously, with regulation, obviously with the credit card act... obviously with all the different swaps, configurations... obviously with all the FDIC fees. We really have headwinds here, but I think they're all in the stock at $41, and I would be an aggressive buyer."

Marathon Oil (NYSE:MRO): "I'm not owning it for the quarter... but I think that Marathon's very cheap...I would prefer for you to be in Marathon, than in Exxon."

Universal American Corp (NYSE:UAM), MetLife (NYSE:MET): "A good company (Universal American)... a good life insurance company. It didn't stub its toe. A really good company. I like it... I like it. That group... remember, MetLife is doing a very big equity offering. I'd like you in the MetLife offering; I think it's going to be really cheap and work well."

Deere (NYSE:DE): "I love a profit... never going to say no to profit but, if you ask me what the long-term for Deere over the next 3-5 years is, it could go to $100. So I would like, on any decline, which I figure we'll get one, because the market was so strong today... I'd like you to go back into Deere. I think a lot of things that Potash said last week, which is about the big shortages in grain overseas, I think it will be very positive for Deere. And don't forget the ethanol bump up in the September/October timeframe. Deere goes higher!"

UPS (NYSE:UPS), FedEx (NYSE:FDX): "One of my bigger mistakes...was that I didn't get enough UPS in, when the stock dropped to $60. UPS...expeditors... Federal Express ... they're all going higher. Don't forget, UPS has a lot of small business too. When that ever starts kicking in in America, that stock is going to go to $80-90... It hasn't kicked in yet. I think that stock can go to $75 on its own valuation."

Bearish Calls

Exxon Mobil (NYSE:XOM): "...is expensive...I would prefer you to be in Marathon than Exxon."

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Source: Cramer's Lightning Round - iRobot Is Not Just Hype (8/2/10)