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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Wednesday August 22.

Bullish Calls:

Pfizer (PFE): "Is a buy here. It has a good yield and is bringing out value. It is doing a lot of right things. PFE is not going to blow out the numbers, but it will go up over time. Rome wasn't built in a day."

Fusion-IO (FIO): "This is a very hot stock. People think it will be bought. I don't think it will be acquired. I think it will do quite well."

Permian Basin Royalty (PBT): "You are fine. You've got that cash distribution. Oil is going higher. You are going to make money."

Wal-Mart (WMT): "I like it here. Everyone is bummed out. It had a quick retracement. You buy 50% of a position now and more if it goes to $70."

Altria (MO), Philip Morris (PM): "I've got Altria making money all the time. Philip Morris has come back and is getting more interesting all the time."

Crown Holdings (CCK), International Paper (IP): "Crown Holdings has long been one of my favorites. Terrific company. I like packaging plays, including IP."

Bearish Calls:

Novagold (NG): "I have beaten myself up on this endlessly. We are having a gold miners rally, I do hope it will go up so people can take it off the table. There are good things going on longer term, but not in the short term."

Dreamworks (DWA): "I am not a fan. Not great numbers. it is not a winner. It has been a loser. I want you to sell it."

Star Scientific (STSI): "Smokeless tobacco ... I have not been a fan."

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Source: Cramer's Lightning Round - Pfizer Wasn't Built In A Day (8/22/12)