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Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Tuesday May 27.

Bullish calls:

First Solar (NASDAQ:FSLR): “ I have been liking First Solar (FSLR). That has stalled.”

Applied Materials (NASDAQ:AMAT): “I like Applied Materials (AMAT) as a hybrid tech play.”

Nordic American Tanker Shipping (NYSE:NAT): “I happen to like the shipping industry, because I think it's making a very big comeback.”

Frontline (NYSE:FRO): “…is actually down a dollar today, and it's off $5 from its high

Procter & Gamble (NYSE:PG): “PG has got raw cost problems…but this is a superior technology company... Let's do this... those who don't care about the next six months... I think you take a position in PG. It's gone down enough.”

Caterpillar (NYSE:CAT)

Petroleo Brasileiro (NYSE:PBR): “My advice is to wait until that stock falls 10% from its high …We're almost there... PBR is right, because of the gigantic buyback.”

Bearish calls:

Capital Trust (CT): “ …the media is relentless in writing negative stories about these mezzanine lenders. I think they have a place in a portfolio. I have not been able to pull the trigger personally, ever, because I worry about that.”

LDK Solar (NYSE:LDK), Diana Shipping (NYSE:DSX)

Navios Maritime (NYSE:NM): “I want to see the numbers.”

Capstone Turbine (NASDAQ:CPST): “No. Too speculative for this guy. It's had a nice run… I can't get behind that spec, after it's doubled...”

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Source: Shipping is Shaping Up - Cramer's Lightning Round (5/27/08)