My top 10 things to watch Tuesday, Nov. 12 1. Wall Street was taking a breather early Tuesday after the Dow , the S & P 500 , and the Nasdaq extended their record-breaking post-election rallies. We’re going to look at how long the Trump trade can last on Thursday at our November Monthly Meeting at noon ET. 2. Home Depot reported a better-than-expected quarter: EPS of $3.78 and revenue of $40.22 billion. Same-store sales dropped 1.2%, but that was much less than the decline that was expected. The Club name also raised its full-year outlook. The Dow stock rose more than 1.5% on the print. 3. Club stock Honeywell jumped 7% after Bloomberg reported that activist investor group Elliott Investment Management amassed a stake of more than $5 billion. Elliott wants Honeywell to break up, a move we’ve been calling for over and over. 4. MoffettNathanson says the earnings power of Club names Alphabet and Meta Platforms is underappreciated. Meta, excluding its reality labs unit, and Alphabet, excluding its “other bets” business, both trade at about 18 times earnings, according to the analysts. That’s well below the overall market multiple. 5. Bank of America added Club name Wells Fargo to its “US 1” list, which is made up of the buy-rated stocks followed by BofA’s research analysts. Wells Fargo, already strong, has soared since Donald Trump won the presidential election, trading near all-time highs of last week. 6. Wells Fargo research analysts upped their price target on Club name Salesforce to $335 a share from $275, but curiously kept it as a hold. The analysts argued that the stock’s big move since mid-September is already pricing in a lot of the eventual benefit from its new AI offering Agentforce. 7. Wells analysts also raised their price target on ServiceNow to $1,150 from $1,050, arguing the software firm is one of the few showing real AI monetization. 8. Citi cut its Ross Stores price target to $152 per share from $179 and downgraded the stock to neutral. The analysts cite the combo of changing management and a high multiple. 9. Citi also kept its neutral rating on Club name TJX and a $128 price target, saying it would expect a beat and raise next week. Citi’s quant team did say the off-price retailer behind T.J. Maxx, Marshalls, and HomeGoods is a crowded trade. 10. Shopify shares soared more than 20% after the e-commerce platform reported a strong quarter with operating income nearly doubling to $238 million. Revenue of $2.16 billion beat expectations. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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My top 10 things to watch Tuesday, Nov. 12
1. Wall Street was taking a breather early Tuesday after the Dow, the S&P 500, and the Nasdaq extended their record-breaking post-election rallies. We’re going to look at how long the Trump trade can last on Thursday at our November Monthly Meeting at noon ET.
2.Home Depot reported a better-than-expected quarter: EPS of $3.78 and revenue of $40.22 billion. Same-store sales dropped 1.2%, but that was much less than the decline that was expected. The Club name also raised its full-year outlook. The Dow stock rose more than 1.5% on the print.
3. Club stock Honeywell jumped 7% after Bloomberg reported that activist investor group Elliott Investment Management amassed a stake of more than $5 billion. Elliott wants Honeywell to break up, a move we’ve been calling for over and over.
