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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Wednesday June 29.

Bullish Calls:

First Niagara (NASDAQ:FNFG): "If you want a good regional bank, I suggest you buy First Niagara. You will get a lot more bang and a lot less headache (than you would with Hudson City)."

Transocean (NYSE:RIG), Ensco (NYSE:ESV): "I like it (Transocean)...a little controversial...I would prefer Ensco. You have a lot of the same power and it is much cheaper."

Natural Resource Partners (NYSE:NRP): "It is a very good coal play...and I like coal very much...because I think it is going to win over natural gas. I like the stock, but I would wait for a pullback."

Illumina (NASDAQ:ILMN): "This is in the sweet spot of this market...medical devices and gene sequencing...this stock is a total buy."

Hershey (NYSE:HSY): "I think it can go higher...the company has decided to focus on profitability...it has done a lot of restructuring...it is a great company."

Bearish Calls:

Regions Financial (NYSE:RF): "I want to sell it...we need new management for me to get behind it...I don't like the management...we need a new broom to sweep it clean."

Qualcomm (NASDAQ:QCOM): "I don't like tech. If I had to buy a semiconductor, I would buy QCOM, because it is the best 4G play and it has good management."

Hudson City Bancorp (NASDAQ:HCBK): "Hudson City turned out to be far more controversial than I expected, and I don't need controversy.

Best Buy (NYSE:BBY): "Best Buy, no go...this is a declining asset...I don't need it."

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Source: Cramer's Lightning Round - First Niagara Is a Bank Without the Headache (6/29/11)