I want the above functionality with the Content Search Web Part(CSWP).

Hi,

Per my understanding, you might want to create something like a Content Search Web Part(which is introduced in SharePoint 2013) in your SharePoint 2010 environment with the callout menu functionality.

As there is no OOTB Content Search Web Part in SharePoint 2010, a suggestion is that you can build a custom web part with the help of Search API and create custom callout menu for it.

Two demos about how to work with Search API in SharePoint 2010 for your reference:

http://nikpatel.net/2013/02/21/step-by-step-building-custom-sharepoint-2010-search-applications-using-keywordquery-api/

http://www.dotnetmafia.com/blogs/dotnettipoftheday/archive/2010/08/12/how-to-use-the-sharepoint-2010-enterprise-search-keywordquery-class.aspx

For about how to create a custom callout menu, the JavaScript plugins below would be helpful:

http://www.jqueryrain.com/demo/jquery-context-menu/

Thanks 

Patrick Liang