Jim Cramer Shares His Thoughts On Caterpillar, Coca-Cola And More

On CNBC's "Mad Money Lightning Round," Jim Cramer said he would rather buy Magellan Midstream Partners, L.P. MMP than Enbridge Inc (USA) ENB.

Cramer would wait for Caterpillar Inc. CAT to pull back a bit, before buying the stock. He believes the stock is going through a renaissance and he likes it.

Applied Optoelectronics Inc AAOI is too much of a roller coaster, said Cramer. There are enough quality stocks to buy, so he doesn't need to buy a very volatile one.

The Coca-Cola Co KO reports earnings next week, and Cramer thinks it is going to do all right. He doesn't know how much higher can it go.

Macy's Inc M is trying to bottom, said Cramer. He wouldn't mind buying some, especially if Lord & Taylor's becomes a takeover target. He also likes its dividend yield.

Instead of buying Glu Mobile Inc. GLUU, Cramer would rather buy Activision Blizzard, Inc. ATVI.

Cramer thinks Walt Disney Co DIS is a good long-term stock. He believes in what Bob Iger is doing, but he thinks investors are going to have to suffer a bit in the short term.

A lot of people think Align Technology, Inc. ALGN is too expensive, but the stock is a winner, said Cramer. He thinks Allergan AGN should buy it, because in the era of Instagram, people want to have better looking teeth.

Instead of buying ENSCO PLC ESV, Cramer would buy Schlumberger Limited SLB, which traded lower after posting a good quarter.