Mad Money Lightning Round: Cramer Likes Freeport-McMoRan

On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Alcoa

is an “undervalued company that's running on multiple cylinders. It's cheap." Cramer believes that Walter Industries

“wants to bring out value; so it might be a takeover target. I like it." For News Corporation

, he said, "We needed to see the headline risk go away and it has. This is a great company that should be bought. They have a ton of cash and it has earnings power." Cramer said that Freeport-McMoRan

“returns a lot of capital to shareholders and I like it." For Wendy's

, he said, "I've got McDonald's

, why do I need the biggie fries from Wendy's. I say buy McDonald's and sell Wendy's." Cramer said, “My charitable trust owns Express Scripts

and it's doing OK. I'm holding onto it, I think it's a good hold." Read more on