Mad Money Lightning Round: Cramer Likes J Crew, Progress Energy (HBAN, JCG, GLW, AYE, EXC, FE, PGN, RIG, SLB, WFT)

On CNBC's Mad Money, Jim Cramer said during the Lightning Round that regional banks are “OK” and he likes Huntington Bancshares (HBAN). He added, “But the banking group is not good right now, so be prepared to take a little pain."

For J Crew (NYSE: JCG), he said, "I think retail is overdone to the down side. I continue to like J. Crew. I think this is not a one-day story."

For Corning (NYSE: GLW), Jim mentioned, "There's a lot of things that Corning does that people get excited about, but then they disappoint.” He advises the investors not to buy Corning.

Cramer prefers Exelon (NYSE: EXC) and FirstEnergy (NYSE: FE) to Allegheny Energy (NYSE: AYE). His favorite is Progress Energy (NYSE: PGN).

For Transocean (NYSE: RIG), Jim said, "I think it's neither here nor there. Schlumberger (NYSE: SLB) had a terrific quarter, but I still like Weatherford Internationl (NYSE: WFT)."

Read more on Jim's Views On Benzinga