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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Thursday January 27.

Bullish Calls:

Corning (NYSE:GLW): "I went over this quarter with a fine tooth comb and this is breakout for Corning. Everyone thought they were too levered to tvs. That was a thing of beauty quarter. Let's have a pullback to $20 because this move is so strong there are going to be profit takers. I'm back in the buy camp."

Airgas (NYSE:ARG): "I think they are doing an unbelievable job. I think this company is worth $80 a share and I want to buy, buy, buy at $62. It just makes too much sense."

Conoco Phillips (NYSE:COP): "I've got terrific oil companies like Conoco that I could take a shot at right here right now and feel terrific about."

Bearish Calls:

Tellabs (NASDAQ:TLAB): "I did not know they had the capacity to do that horrible a quarter. That is the worst quarter reported so far in 2011. They have got a lot of explaining to do. They should have pre-announced. That was bad form. I don't like them."

NIC (NASDAQ:EGOV): "Why don't you ring the register. I don't want to be levered with anything to do with state and local governments... this company is not very forward looking and they might be cutting back."

Magnum Hunter Resources (NYSE:MHR): "I think it is good, but I have so many others which are better and cheaper. I put it in the spec column. You are okay, but I'm not pounding the table."

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Source: Cramer's Lightning Round - I Don't Like Tellabs (1/27/11)