Jim Cramer Says 'No' To Flagstar Bank And 'Yes' To This Basic Materials Stock

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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