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Cramer's lightning round: Here's the real reason behind Bank of America's decline

It's that time again! CNBC's Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed:

Bank of America: "It's [lagging] because Bank of America needs rate hikes more than any of these other banks to be able to have a big number in the future. And everyone's so worried that the Fed's not going to raise anything this year. That's why it sold off. I urge you to hang onto it."

Kite Pharma: "I like Kite, but we are Portola fans on this show. P-T-L-A! That's the one we did the work on that we like the best. That's the one you should be in."

J2 Global: "It's OK. I mean, you know, it's cloud-based. Everyone gets excited. This is the type of thing where you should be in just because it's cloud. I know, it doesn't mean they're necessarily analogous, but that's the better stock."

Universal Display Corp.: "I know there's a really huge short position in this. I think the company's set up for a good 2018 and '19, so I'm not deterred."

iRobot Corporation: "I think you should go. I think you should buy it. I'm not kidding. I've been seeing that product now, I was over at a house that had it. I really like it. The military applications are good. I think you're in a good one."

GoPro: "Well, you know what, it had a better-than-expected quarter and gave me a good outlook, but then you're done. I'd rather see you in Best Buy, which gives you that and a lot of other good things."

Norwegian Cruise Lines: "Oh, man, buy, buy, buy. That's one of my absolute favorites. Don't forget, Royal's real good and we think that Carnival's great."

Eldorado Resorts: "Hospitality, good stock. Absolutely. I was thinking about rolling into Wynn [Resorts] here. Hey, by the way, Marriott Vacations up again. But I like your stock. I think it's good."

Buffalo Wild Wings: "The restaurant business is too hard for me right now. We don't have to spend that much time on it. I like the McDonald's of the world. I like fast food, not casual."

Watch the full lightning round here:

Cramer's lightning round: Here's the real reason behind Bank of America's decline

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