It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed:

United States Steel Corporation: "Look, I've got enough problems with my charitable trust. I tell club members of ActionAlertsPlus.com [that] Nucor is hard to own. I mean, I don't want to even go down the path of letter X. Nucor's got a good balance sheet and it's supposed to be doing well. No. No to letter X."

CenturyLink: "I've got to throw the flag on that one. Why? Because I do believe that, in the end, that huge yield of 11 percent is a red flag and it worries me."

Boyd Gaming Corporation: "Not as good as MGM or Wynn. I like to rate 'em like that."

MyoKardia, Inc.: "Oh, man. The stock's up over 200 percent. We've got to take a breather on that. That's way, way too hot."

Philip Morris International: "I like Philip Morris. I don't like to recommend tobacco companies, but I've got to tell you, I think that that's a good one."

Valeant Pharmaceuticals: "We're going to just say, 'Don't buy.' We like everything that [CEO] Joe Papa's doing. He's cleaned up the balance sheet. I think the thing could be OK. But I've still got so many drug companies that are down on their luck right now, I can't go for that one."

Baozun: "We like it because we had them on and I think it's a terrific situation. It's an e-commerce situation where a lot of people thought the last quarter wasn't that good. They were wrong. I like it."

Axalta Coating Systems Ltd.: "I like it. Look, this group is down. PPG pre-announced today. There's a lot of issues, but I've got to tell you, as I saw it on the scoreboard yesterday for Lincoln Financial, I like Axalta. But I do really like DowDuPont."

Disclosure: Cramer's charitable trust owns shares of Nucor and DowDuPont.