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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Thursday December 2.

Bullish Calls:

Finisar (NASDAQ:FNSR): "Alright, that was a blowout quarter...absolutely just not a great company at all that had a great blowout quarter because of Optical taking share form JDS Uniphase... this stock's not done. It has rested for so long. It was dormant. Now it has woken up, it is like a monarch butterfly. It has got some traveling to do, you know, North!"

Under Armour (NYSE:UA), Deckers (NYSE:DECK), Nike (NYSE:NKE), Lulemon (NASDAQ:LULU): "Under Armour's a good stock. It has had a good run. I prefer Nike, it is cheaper. I prefer Deckers, it is cheaper... but I'm not going to stand in the way of people who want to own Under Armour or Lululemon.... those are both high growth speculatuve stocks that are doing well."

Marathon (NYSE:MRO): "Marathon had a disappointing quarter ...that is inexpensive. They have both oil business and refining."

Cree (NASDAQ:CREE): "That is the lighting company of the future because of the changes in the lighting laws. Everyone is going to have to use Cree. When I first recommended it, there was too much of a gulf from when it was going to happen... now no more. Cree is buy, but remember this is a very highly speculative, highly traded name."

Anadarko (NYSE:APC): "(CEO) Jim Hackett is the best of the business... Jim Hackett is going to make you money. I would buy Anadarko here. Natural gas is bottoming."

DineEquity (NYSE:DIN): "I like it it... great restaurant play. They are paying down debt; they can keep issuing stock if they want to... the whole restaurant group is on fire"

Bearish Calls:

Valero (NYSE:VLO), Tesoro (NYSE:TSO): "Valero is a pure play on refining and so is Tesoro. I don't like those. I'd rather have a mixed business."

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Source: Cramer's Lightning Round - Finisar Is Like a Monarch Butterfly (12/2/10)