Cramer's lightning round: I don't like Monster Beverage anymore

Published Mon, Jun 4 20186:55 PM EDTUpdated Mon, Jun 4 20187:06 PM EDT

Key Points

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

Monster Beverage: "No, I don't like it. I've liked it for a very long time, but they missed the quarter and I don't see any turnaround anytime quickly. I just think that it's just not worth being in."

Valero Energy Corp.: "There's still a very big spread between the Permian [Basin] oil and the rest of the country and therefore I think Valero still works. I hate to buy a stock at its 52-week high, but I do think Valero is an up stock, as is Holly [Energy Partners], as is, by the way, Marathon [Petroleum]."

Ichor Holdings: "[For] semiconductor equipment, frankly, I prefer Lam Research if we're going to go down that path."

Diamondback Energy: "This is all about the glut of oil. There's a traffic jam at the Permian and that's making it so that [Diamondback] and a couple others are really being hurt. I would stick with it."

Emerson Electric: "Emerson is a position we have quietly built for ActionAlertsPlus.com, telling all club members that we think that Emerson could trade up very big. We had [CEO] David Farr on this show. We really liked what he had to say and we think it's a buy."

Progress Software Corporation: "Progress Software is a company that's had an unbelievable long-term business. It's been great. It's beaten numbers time and again and I think it will [again]. I'm surprised to see it down this much."