Jim Cramer's Mad Money Lightning Round Picks, May 3

by: Miriam Metzinger

Miriam Metzinger submits: Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Thursday May 3. Click on a stock ticker for more analysis:

Bullish calls:

Harris (NYSE:HRS): ' ... it just so happens that the news after the bell is that they got a gigantic contract from the Department of Defense. I think you buy HRS on the weakness. This is a steady Eddie stock. Whenever you see 3-4 point pullback, that's when you make your move. That's when you buy more.'
GOL Linhas Areas Inteligentes (NYSE:GOL): 'This is the only airline stock that has not been clobbered like the others, and that's because it's got - it owns Brazil. I recommended it at $29 and change ... I would pull the trigger right here.'
Allegheny Technologies (NYSE:ATI): ... 'the cheaper one is ATI, on this big pullback. Last year's Stock of the Year. It always has big selloffs after they report. This is just another opportunity. It's knocking. Get on board'
Time Warner (NYSE:TWX): 'Time Warner may indeed sell Time Magazine - that group - sell that whole group away. That would then make you see all the value of cable, despite the fact that it already has a cable spinoff. '
Charter Communications (NASDAQ:CHTR): 'Charter had a very good number. I went over it with a fine tooth comb.'
Union Pacific (NYSE:UNP): 'I need you to buy any rail. I happen to own Union Pacific for my charitable trust. That remains my favorite.'
Nucor (NYSE:NUE)
Reliance Steel & Aluminum (NYSE:RS)
Atwood Oceanics (NYSE:ATW): 'Contract driller! I see a turn happening to contract drillers after the close ... ATW is fine.'
Nabors (NYSE:NBR): 'Nabors came out and said some very good things.'
Hewlett-Packard (NYSE:HPQ): 'Anybody who owns it should stick with it. And anyone who doesn't should buy it.'
Valero Energy (NYSE:VLO): 'It just keeps going higher and higher. I don't know. I recommended selling it at $68... I've been left off this train.'
MetLife (NYSE:MET): 'Best of breed. It just keeps going higher. Another great quarter. A really remarkable company.'
Harley-Davidson (NYSE:HOG): 'Yeah, I got this one wrong. At $61, I relied on bad info. I think it's fine. I don't think there's any inventory problem.'
Rite Aid (NYSE:RAD): 'Oh, c'mon. Mary Sammons (NYSE:CEO) is best in show. That stock is a total buy here.'

Bearish calls:

Brocade Communications (NASDAQ:BRCD): 'I'm worried... Because my friend, Laura Conigliaro at Goldman Sachs put out a fantastic note today saying she worries about competition ... If she's worried, I'm worried. If she's scared, I'm going to cry. Don't buy, don't buy.'
Titanium Metals (TIE): 'I think that we saw a little crescendo selling in another titanium company - not my favorite. I am never going to send you to TIE... '
Forward Air (NASDAQ:FWRD): 'The stock is down a lot. You have to think that I'm tempted, but I have to tell you that there is a so-called secular decline in the trucking industry.'
Axcelis Technologies (NASDAQ:ACLS): ' I think that it's got ion implantation - that's an interesting game. But it still comes down to fabrication of wafers. And I keep thinking about how I hurt us ... because of fabrication of wafer issues... I am going to take a pass on yours. Don't buy, don't buy.'
Rogers Communications (RG): 'Hey look, RG is great ... I would swap out of RG - 52 week high - and go for either CHTR for the spec, or TWX and see the value blown out.'

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