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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Monday June 11.

Bullish Calls:

Arena Pharmaceuticals (NASDAQ:ARNA): "It is a terrific spec...obesity is horrendous. They should do a lot of secondaries."

Dow Chemical (NYSE:DOW): "...Dow with a 4% yield, yes. Yours (W.R. Grace), no."

AT&T (NYSE:T), Verizon (NYSE:VZ): "...You have Verizon and AT&T, why do you need to go any further (and buy Frontier)?"

Cedar Fair (NYSE:FUN): "One of the ways to have fun is to own FUN. We have recommended this stock repeatedly. it still has a 6% yield. It is a good domestic security stock with a good dividend. You can't beat it. And it has some nice theme parks."

Bearish Calls:

Nokia (NYSE:NOK): "There is nothing there. People think someone is going to buy Nokia. The Finns (i.e. because of regulations in Finland) are not going to let anyone buy Nokia."

International Game Technology (NYSE:IGT): "I'm done...you don't need a casino play."

Legacy Reserves (NASDAQ:LGCY): "I'm not going to recommend anything like that with oil cracking $80. I didn't think that would happen."

W.R. Grace (NYSE:GRA): "In another environment that would be good (Cramer prefers Dow)."

Skullcandy (NASDAQ:SKUL): "I don't see why this accessory company should be going up. I just think it is the kind of company that would be too competitive with others. I don't like their niche."

Stanley Black & Decker (NYSE:SWK): "It should be higher. It has some European exposure. It is terrific, but no one wants any Europe."

Frontier Communications (NASDAQ:FTR): "No...way too dangerous."

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Source: Cramer's Lightning Round - No One Is Going To Buy Nokia (6/11/12)