On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended holding Boston Scientific Corporation (NYSE:BSX).

“I don't understand how this thing could have fallen so fast,” he said of the medical device maker. “I know there's a lot of competition. I don't want to dump it here, but I can't count on this to buy more.”

Cramer said Nokia Oyj (NYSE:NOK) is a buy. “It's in the data center. It's considered to be part of the cloud part of that wedding layer cake that I gave you, and it's just also got a great defense contract. So it's got the cloud and it's got defense,” he added.

“I don't recommend buying these stocks up here,” Cramer said when asked about Applied Optoelectronics, Inc. (NASDAQ:AAOI). “They're all parabolic, and that's going to be not good for the market.”

Cramer recommended not buying Chewy, Inc. (NYSE:CHWY) until the war ends.

“There's a bunch of stocks that are like this,” he said. “They're high-growth companies that did not necessarily blow the doors off the number and are in retail. And because they're retail, people feel that you can't own retail because of the war. So, this is definitely a hurt by war story.”

The Mad Money host recommended passing on Ford (NYSE:F). “Ford is very hard to own because they have warranty problems, and we have a war, and rates don't seem to be going lower,” he added.

Eli Lilly (NYSE:LLY) is “really, really good,” Cramer said.

Cramer also recommended buying Caterpillar Inc. (NYSE:CAT).

“You know, people forget Caterpillar is oil and gas, and we've been pumping a lot more oil and gas. Caterpillar is construction and infrastructure, we've been doing a lot of infrastructure. And Caterpillar has engines that line up and make you get to be able to have the electricity that you need, to be able to hit the gigawatt numbers that all these hyperscalers want,” he added.

Price Action

  • Boston Scientific shares fell 1% to settle at $53.37 on Monday.
  • Nokia shares rose 8.6% to close at $13.92.
  • Caterpillar shares gained 3.3% to settle at $926.79.
  • Chewy shares fell 2.1% to settle at $22.49 during the session.
  • Applied Optoelectronics shares jumped 24.1% to close at $184.90.
  • Ford shares fell 2.2% to settle at $12.05 on Monday.
  • Eli Lilly shares gained 2% to close at $966.99.

Photo via Shutterstock