My top 10 things to watch Thursday, Nov. 7 1. It’s Fed Day. Two days after the election. Wow, what a week. To those who say we don’t need another interest rate cut, I say that you have not been listening to companies’ post-earnings conference calls. Manufacturing has been weak, and there’s a freight recession. 2. Wall Street was extending its Trump victory-fueled rally that took the Dow , the S & P 500 , and the Nasdaq to new heights Wednesday. At least early Thursday, bond yields were lower after jumping on a belief that Donald Trump’s policies as president would heat up the economy and risk higher inflation. 3. Guggenheim downgraded solar company Array Technologies to neutral from buy. The analysts cited concerns Trump’s stance on energy transition. Array is a competitor of Club name Nextracker . I don’t think Trump is against solar and Nextracker has all-American products, which the incoming president should like. 4. Argus and Jefferies downgraded Palantir to hold. I think these analysts are wrong and they’re misjudging the Pentagon’s new best friend in Trump who favors spending on a strong military. Palantir has lots of military contracts. 5. Stephens raised its Builders FirstSource price target to $200 per share from $178. The analysts kept their overweight buy rating on the building materials company. This is an interesting call because the group got hammered Wednesday on Trump tariffs concerns. 6. KeyBanc raised its Walmart price target by $1 to $88 a share and kept its overweight buy rating. It seems like meaningless a move but the retailing giant, which provides low prices and value, is a winner in a Trump regime. 7. Lyft shares surged more than 20% in response to the ride-hailing company’s better-than-expected third-quarter revenue and rosy current quarter bookings guidance. Demand from commuters boosted the results. It’s a surprising report after last week’s print from Uber, which lacked the upside. 8. Shares of Qualcomm jumped 5.5% after the company reported better-than-expected quarterly results because of auto and telco and industrial. The semiconductor maker is firing on all cylinders as it has become more than just wireless. 9. Arm Holdings shares were going the other way, down 4%, after the company beat the quarter but failed to raise guidance. I’m not sure why, but the chip designer is perceived as too tied to auto and not enough smartphone growth? I’ll ask Arm CEO Rene Haas why at 10 a.m. ET on CNBC. 10. E.l.f. Beauty hiked its full-year sales and earnings outlook after posting stronger-than-expected quarterly results, sending shares higher. Still the best house in the worst neighborhood. On the other hand, Coty lowered its comparable sales guidance, and Barclays downgraded the stock to a sell-equivalent rating in response. Analysts said the company is being too aggressive to achieve its targets. Bad sign and terrible category. 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.
My top 10 things to watch Thursday, Nov. 7
1. It’s Fed Day. Two days after the election. Wow, what a week. To those who say we don’t need another interest rate cut, I say that you have not been listening to companies’ post-earnings conference calls. Manufacturing has been weak, and there’s a freight recession.
2. Wall Street was extending its Trump victory-fueled rally that took the Dow, the S&P 500, and the Nasdaq to new heights Wednesday. At least early Thursday, bond yields were lower after jumping on a belief that Donald Trump’s policies as president would heat up the economy and risk higher inflation.
3. Guggenheim downgraded solar company Array Technologies to neutral from buy. The analysts cited concerns Trump’s stance on energy transition. Array is a competitor of Club name Nextracker. I don’t think Trump is against solar and Nextracker has all-American products, which the incoming president should like.
4. Argus and Jefferies downgraded Palantir to hold. I think these analysts are wrong and they’re misjudging the Pentagon’s new best friend in Trump who favors spending on a strong military. Palantir has lots of military contracts.
5. Stephens raised its Builders FirstSource price target to $200 per share from $178. The analysts kept their overweight buy rating on the building materials company. This is an interesting call because the group got hammered Wednesday on Trump tariffs concerns.
6. KeyBanc raised its Walmart price target by $1 to $88 a share and kept its overweight buy rating. It seems like meaningless a move but the retailing giant, which provides low prices and value, is a winner in a Trump regime.
7. Lyft shares surged more than 20% in response to the ride-hailing company’s better-than-expected third-quarter revenue and rosy current quarter bookings guidance. Demand from commuters boosted the results. It’s a surprising report after last week’s print from Uber, which lacked the upside.
8. Shares of Qualcomm jumped 5.5% after the company reported better-than-expected quarterly results because of auto and telco and industrial. The semiconductor maker is firing on all cylinders as it has become more than just wireless.
9. Arm Holdings shares were going the other way, down 4%, after the company beat the quarter but failed to raise guidance. I’m not sure why, but the chip designer is perceived as too tied to auto and not enough smartphone growth? I’ll ask Arm CEO Rene Haas why at 10 a.m. ET on CNBC.
10. E.l.f. Beauty hiked its full-year sales and earnings outlook after posting stronger-than-expected quarterly results, sending shares higher. Still the best house in the worst neighborhood. On the other hand, Coty lowered its comparable sales guidance, and Barclays downgraded the stock to a sell-equivalent rating in response. Analysts said the company is being too aggressive to achieve its targets. Bad sign and terrible category.
(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)
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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.
