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

Bullish Calls:

Abbott Labs (NYSE:ABT): "This stock is on a tear...we think this stock has $60 all over it. I think you hold on."

Microsoft (NASDAQ:MSFT): "I think the stock is cheap. I'd be a buyer."

Sprint (NYSE:S): "...I would rather see you in the bonds. Sprint has to raise money. That will help the bonds."

Spectra Energy (NYSE:SE): "What a great company...it transports and stores natural gas...it's at a 52 week high. I still like it. Great management and tremendous growth potential."

Bearish Calls:

KLA Tencor (NASDAQ:KLAC): "...you are right to be worried...you've got 2.8% yield...wait for it to go down, and then pull the trigger."

Transocean (NYSE:RIG): "This stock has run big to the bottom, and I don't care for it."

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Source: Cramer's Lightning Round - Abbott Has $60 Written All Over It (3/12/12)