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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Wednesday October 24.

Bullish Calls:

AT&T (NYSE:T): "It is playing havoc. It may not seem safe, but the dividend is good. I think the return will be there."

Cummins (NYSE:CMI): "You accept the pain you are going to have to take while China recharges its engines. The stock could trade 3 or 4 down, and you average down."

Costco (NASDAQ:COST): "Costco reported a great quarter and sold down. We should be buying Costco here."

Bearish Calls:

Halcon (NYSE:HK): "Oil is going down. You need oil to shoot up through $100 to make a lot of money in this stock. It is not doing this right now, so be careful."

Ford (NYSE:F): "I think Ford domestically is doing well. I don't like Ford in Latin America and Europe. They have to retrench Europe before they do anything."

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Source: Cramer's Lightning Round - AT&T Is Playing Havoc (10/24/12)