My top 10 things to watch Friday, Feb. 7 1. Wall Street was heading for a muted open after Friday’s jobs report showed lackluster nonfarm payrolls growth but a lower unemployment rate. The S & P 500 closed higher Thursday, extending its winning streak to three straight sessions. 2. The U.S. economy added just 143,000 nonfarm jobs in January. The jobless rate dipped to 4%. December nonfarm payrolls got a big upward revision to 307,000. Bond yields were higher after the release. Bond yields were higher after the release showed hotter than expected wage inflation. 3. Club name Amazon has more demand than it can handle. Price targets raised. Needs more equipment. Working closely with Club holding Nvidia for Blackwell chips because they can do what Amazon needs. Trying to build out others. Lumpy growth but a lot of that was the strong U.S. dollar. Still the stock was down more than 2%. Cost to serve each package still going down. Haven’t even started to monetize NFL and other sports. 4. Morgan Stanley reiterated its overweight buy rating on Club chipmakers Nvidia and Broadcom with a focus on AI. Capital expenditure spending by big tech companies was called into question last week after Chinese startup DeepSeek released a lower-cost AI model. But Club names Amazon, Alphabet , Meta Platforms , and Microsoft all kept their capex plans robust. As for Meta , it was looking to make Friday its 15th session in a row to the upside. Last week’s quarter was incredible . Monster beats on everything from sales and profit to cash flow and engagement. 5. Pinterest served an upside surprise in quarterly results and the stock was soaring more than 20%. Morgan Stanley raised its price target, as many Wall Street research firms did, and keep its equal weight hold rating. No one expected this. Lots of opportunity here on this one. 6. Deutsche Bank upgraded Club name Honeywell to buy from hold following Thursday’s announcement from the company that it will split into three. The analysts said, “We essentially believe that earnings momentum can bridge ‘deal limbo.'” We updated Honeywell , too. Honeywell and three other portfolio names reported earnings before Thursday’s opening bell. Eli Lilly, Bristol Myers Squibb, and Linde were the others. I looked at which ones were buys . 7. Shares of e.l.f. Beauty dropped 25% on Friday, the morning after the company’s quarter showed it is slowing, along with its category. Weak January and business rapidly decelerating. No real convincing answers why things aren’t better from CEO Tarang Amin on “Mad Money” on Thursday evening. Morgan Stanley downgraded to equal weight and slashed its price target to $70 per share from $153. All kinds of downgrades and PT cuts. 8. Shares of Salesforce , which were steady Friday, got hit in the prior session for the departures of COO Brian Millham and CFO Amy Weaver. Both were replaced by Robin Washington, lead director who handled the challenge of several activist firms over the company’s management. Washington, a former CFO of Gilead, assumes both roles as chief operating and financial officer. Excellent choice . 9. Tesla ‘s January electric vehicle sales in China dropped 11.5% year over year as competition from Chinese competitors ramped up. Chinese auto company BYD’s January pure electric and plug-in hybrid vehicles jumped 47% year over year. Tesla shares were modestly lower. 10. Roblox shares, which were little changed Friday, lost 11% in the prior session on a rare miss from CEO Dave Baszucki. On Thursday’s “Mad Money,” Baszucki said the company can get 10% market share. Roblox is currently at 2%. MoffettNathanson downgraded to sell from hold, citing ill-conceived notions of growth. 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.
The Pinterest logo is displayed on a screen on the floor of the New York Stock Exchange on Oct. 20, 2021.
Brendan Mcdermid | Reuters
My top 10 things to watch Friday, Feb. 7
1. Wall Street was heading for a muted open after Friday’s jobs report showed lackluster nonfarm payrolls growth but a lower unemployment rate. The S&P 500 closed higher Thursday, extending its winning streak to three straight sessions.
2. The U.S. economy added just 143,000 nonfarm jobs in January. The jobless rate dipped to 4%. December nonfarm payrolls got a big upward revision to 307,000. Bond yields were higher after the release. Bond yields were higher after the release showed hotter than expected wage inflation.
3. Club name Amazon has more demand than it can handle. Price targets raised. Needs more equipment. Working closely with Club holding Nvidia for Blackwell chips because they can do what Amazon needs. Trying to build out others. Lumpy growth but a lot of that was the strong U.S. dollar. Still the stock was down more than 2%. Cost to serve each package still going down. Haven’t even started to monetize NFL and other sports.
