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Cramer's lightning round: This drug stock is simply not good enough for your portfolio

Elizabeth Gurdus
Source: CNBC. Jim Cramer rattled off his take on callers' favorite stocks, including a device play fielding rumors of a buyout.

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:

Teva Pharmaceutical Industries, Ltd. (NYSE: TEVA): "No, no. I don't want you to own that stock. By the way, I think that Teva is just not good enough to be in your portfolio, period. End of story."

EQT Midstream Partners, LP (NYSE: EQM): "Oh, that's a good one. That's a good midstream partnership. It's got a nice yield, and I think it's safe. Look, [with] yields, you never know. But this one is a very well-run company."

AbbVie, Inc. (NYSE: ABBV): "Well-run, inexpensive drug company. I'd be a buyer."

Blackstone Group, LP (NYSE: BX): "Went through that quarter. They did terrifically. With their IPO window opening, they can re-liquify. I think it's a buy. I've been saying that for a while, though."

Oclaro (NASDAQ: OCLR): "Well, you know, you're a little risk-taker. You know that Oclaro has been up and then down and then up, but you sound like you want to do a little speculation. I'm not going to say no to that."

Snyder's-Lance (NASDAQ: LNCE): "No, no! I mean, this is a steady Eddie and I don't know what's happening there. No. We're not going to touch that. We need to know more. That was not a good one. That was worrisome."

Freeport-McMoRan, Inc. (NYSE: FCX): "Reports next week. I'm concerned. Copper's going down. I don't like that [the] Baltic Dry Freight Index has been going down. We're going to have to hold off."

CoreCivic, Inc. (NYSE: CXW): "I'm not the good call. Why am I not the good call? Because I felt probably about 10 percent ago that it was done going higher and it keeps going higher. I think you've got a better handle on it than I do, and it probably is going to have a decent quarter."

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