It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:
: "A diversified portfolio should have some utility, a little gold, a little growth, a little value, have a little income. That is the way we set it up for actionalerts.com. I think you're fine. Don't expect fireworks right here. People want other stocks, but you're in good shape."
Spark Therapeutics: "They are an incredibly speculative stock. We happen to have a couple of biotechs that actually showed some very wild moves today. Some cut in half, and some doubling. I have to tell you, this company just did a secondary. That makes me uneasy."
General Electric: "If Jeff Immelt [CEO] goes with Nelson Peltz's plan — that's Trian, and Trian has made a lot of money — then he'll be buying back stock hand-over-fist, and you should too. It's one of the largest positions in my charitable trust. I think you should own GE."
Prospect Capital Corporation: "This is a mezzanine finance company. When I hear that, it means I do not know what they invest in. If we get a downturn in the economy, I know I'm going to get hurt. I'm not going to do it. I'm going to say don't buy."
Verizon Communications: "I'm not going to recommend buying Verizon at a 52-week high when I know that you could get a couple days sell-off given the fact that some people are going to say that the economy is a little bit stronger, and that usually means that Verizon goes down. That said, buy buy buy. I don't want to be penny-wise, if it goes down $1 it's worth buying."
Freeport-McMoRan: "That's a gutsy one, I've got to tell you. Freeport has a very bad balance sheet, but they're trying to fix it. I have to say don't buy, don't buy because the fossil fuel companies that are doing well also have problems. So it's problematic for me to come in and say this one is a buy."
Illumina: "Illumina is a hold, but Thermo Fisher, TMO, is at 16 times earnings. ActionAlertsPlus.com name. Better company, came off big from a high. Buy buy buy TMO."
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