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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Thursday June 28.

Bullish Calls:

Ariad Pharmaceuticals (ARIA): "I still like the stock very much. It is a great spec, and specs are paying off for biotechs. I say buy Ariad."

Verizon (VZ): "Verizon has a good yield."

ConocoPhillips (COP): "I bless it because it has almost a 5% yield. It has a big natural gas business, and natural gas seems to have bottomed. I am okay with buying COP."

Bearish Calls:

Weight Watchers (WTW): "I don't like this. It is a dangerous stock. They have bought back too much stock. The company has lost its momentum."

Vivo Participacoes S.A. (VIV): "It can make sense, but...I want to stick close to home (with Verizon)."

Mosaic (MOS): "Here's the problem. The ag trade has lasted 4 days, and that is about as long as they do last. If we get rain this weekend, sell, sell, sell. The trade is over."

Companhia Siderrgica Nacional (SID): "Brazil, steel, the economic slowdown...they have not been able to ignite the economy. I'm not going there."

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Source: Cramer's Lightning Round - Biotech Specs Are Paying Off (6/28/12)