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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Thursday December 8.

Bullish Calls:

Johnson & Johnson (NYSE:JNJ): "I think you are fine. I don't care for the management because of all the recalls. With a 3% yield and lots of drugs in the pipeline, it is fine for this environment."

Nike (NYSE:NKE): "...we are going to Nike because they boosted the dividend and it is solid..."

Novagold (NYSEMKT:NG): "You are rolling the dice...it is a good hold on gold...this is a good long call on gold."

Unilever (NYSE:UL), General Mills (NYSE:GIS): "I'd rather be in General Mills (than Sara Lee) or Unilever."

Intel (NASDAQ:INTC): "I've got Intel down very big...terrific yield...3.5%...Intel is the way to go."

Bearish Calls:

Lululemon (NASDAQ:LULU): "...it is a tough environment. Nike is my play for that area."

Sara Lee (SLE): "I need growth. I don't get growth from SLE."

Titan International (NYSE:TWI), Ford (NYSE:F): "We got some good news in auto...Ford gave us a dividend of 2%...but this market has gotten too hard for autos. We have to see the Euro situation calm down...it is putting a cloud over auto stocks (the caller asked about TWI)."

Micron (NASDAQ:MU): "No."

Freeport McMoRan (NYSE:FCX): "Is the best of breed, but there is a problem. If we get a slowdown in Europe, it is going to see $34-35."

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Source: Cramer's Lightning Round - Johnson & Johnson Is Fine For This Environment (12/8/11)