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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Tuesday July 12.

Bullish Calls:

Atlas (AHD): "Atlas is a terrific stock...it is undervalued...that whole area is undervalued because oil has come down."

Magna (NYSE:MGA), Johnson Controls (NYSE:JCI): "I like Magna. I like the auto parts business. I reiterated my buy on JCI."

Annaly Capital Management (NYSE:NLY): "...we want to go to the guy who manages it all...Mike Farrell...[CEO]...NLY is a better play (than CIM), especially since they did that secondary."

Neutral:

Crocs (NASDAQ:CROX): "I'll be honest...I missed the move. I'm not the call...it looks like it has had too big a run...It has been a big winner, but I have no right to opine on it, because I missed it."

Bearish Calls:

Chimera Investment Corporation (NYSE:CIM): "Is not the stock we want to own..."

Southwestern Energy (NYSE:SWN): "I bought this and owned it for the charitable trust...made some money and skeedaddled because I don't want that much exposure to natural gas...I think oily situations represent more value."

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Source: Cramer's Lightning Round - I Missed Crocs (7/12/11)