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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Thursday December 1.

Bullish Calls:

KLA-Tencor Corporation (NASDAQ:KLAC), Novellus (NASDAQ:NVLS): "You've got horse sense (about KLAC)....3% yield...and Novellus is slowly taking itself private. Those are the two best semiconductor equipment companies in the world."

Energy Transfer Partners (NYSE:ETP): "I am a believer in ETP. They got rid of the division I didn't like...propane...the rest is pipeline...it yields 8%. I'm sticking with ETP."

Bearish Calls:

Groupon (NASDAQ:GRPN): "I don't like the stock at all...I liked it for the first day, and I don't ever want to see it again."

Shutterfly (NASDAQ:SFLY): "...too dangerous...no...it is still not too late to sell...it is not a strong stock."

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Source: Cramer's Lightning Round - I Never Want To See Groupon Again (12/1/11)