On CNBC's “Mad Money Lightning Round,” Jim Cramer said there is no reason to buy Flagstar Bank, National Association (NYSE:FLG).

“There's nothing special,” he said. “It's not making all that much money, it doesn't have that big of a dividend."

On the earnings front, Flagstar Financial, on April 24, posted first-quarter adjusted earnings of 4 cents per share, beating market estimates of 3 cents per share. The company's sales came in at $498.00 million, missing expectations of $520.49 million.

When asked about Monarch Casino & Resort, Inc. (NASDAQ:MCRI), Cramer said he does not know that casino.

Monarch Casino & Resort, on Tuesday, reported better-than-expected first-quarter financial results.

Cramer said Ciena Corporation (NYSE:CIEN) being 100% up is a “little bit too hot for me, so I'm gonna have to hold off.”

The Mad Money host said yes to MP Materials Corp. (NYSE:MP). “It's the only one in that whole area I really bless because they've got the government's backing, and they have really good, solid management and they're doing a huge number of good things,” he added.

Cramer said no to Applied Digital (NASDAQ:APLD), adding, “The problem there is you've got a stock that is making no money in a market where many people are making money and people are switching from the losers to the winners.”

"Now that is one that I can't bless at all," Cramer said when asked about Fermi Inc. (NASDAQ:FRMI).

As per the recent news, Fermi named Rob L. Masson II as interim chief financial officer.

Price Action

  • Monarch Casino shares gained 1% to settle at $119.34 on Wednesday.
  • Ciena shares rose 0.4% to close at $475.39.
  • Applied Digital shares gained 1.8% to settle at $32.69 on Wednesday.
  • Flagstar Bank shares declined 1.4% to close at $13.81.
  • MP Materials shares fell 0.7% to settle at $61.30.
  • Fermi shares fell 4.8% to settle at $5.03 on Wednesday.

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