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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Friday September 7.

Bullish Calls:

Bank of America (NYSE:BAC): "...the preferreds are flying. Bank of America is good to go. I think you can own it."

W.W. Grainger (NYSE:GWW): "This is a great company. On any weakness, I want to buy. It is just a fantastic company."

ConEdison (NYSE:ED): "I don't know if they are going to split. I do like the dividend. Utility stocks are weaker. I would use a new entry point at $58 before I'd get too carried away."

Bearish Calls:

Nvidia (NASDAQ:NVDA): "People are worried about the quarter. I'm going to say 'don't buy.'"

Baidu (NASDAQ:BIDU): "I'm not recommending any Chinese stock. Why? Because I don't believe in the Chinese market, but the cyclicals are going to rally."

Nordic American Tanker (NYSE:NAT): "Daily tanker rates are horrendous. I think you've got to sit on the sidelines now."

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Source: Cramer's Lightning Round - Bank Of America Is Good To Go (9/7/12)