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

Bullish Calls:

Hertz Global (NYSE:HTZ): "People are upset because Hertz has this industrial division. The stock is down a lot already. I would start nibbling. It is economically sensitive and doesn't have a yield, but I would bless buying a little here and more under $10."

MarkWest Energy (NYSE:MWE): "[MLPs] are in free fall. You need to know your first buy is not going to be your last buy ... buy it on the way down. I like MarkWest."

Sempra Energy (NYSE:SRE): "It is up nicely. It has a decent yield. Is this (such) a bear market if you can have Sempra with a 16% return? I love it."

Bearish Calls:

First Solar (NASDAQ:FSLR): "Sell, sell, sell."

Allegiant Travel (NASDAQ:ALGT): "Another bull market stock. Oil is in free fall. It is an airline company. This stock is up 50%. That said, I want to ring the register and take profits."

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Source: Cramer's Lightning Round - Hertz Has Taken Enough Pain (6/1/12)