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:

Corning: "I'm not really a fan. I think that it has just been a stock that has just doesn't have the kind of growth technology that I like. It's not expensive, but I see no catalyst is the problem."

Statoil ASA: "5.9 percent yield but not a lot of growth, I prefer Occidental. My charitable trust owns it. OXY has a little bit lower yield, and a little more growth."

Gilead Sciences: "I'm not in a hurry to go in there and buy Gilead because I keep thinking that right now Hillary Clinton is running for President and she likes to get some mileage out of this. It's become a political football, so don't ask me to get in there. I do like it, but the political backdrop is really horrible here."

Mead Johnson Nutrition: "The problem with formula is that this is a China trade. Also don't forget Perrigo makes knock-off formula and that does very well and hurts everybody's margins."

Sirius XM Holdings: "I have liked it, the stock always seems stuck in the mud. But it's got very good subscription growth and I think that is what ultimately matters."

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Healthcare Trust of America: "I like the stock very much. I don't care where a stock is coming from, I care where it is going too and I like HTA."

Kraft Heinz: "My charitable trust owns Kraft Heinz. Don't forget it's a Buffett 3G play. I think it is extremely cheap on multiple year earnings, but you've got to think multiple year."

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