My top 10 things to watch Thursday, Nov. 21 1. Nvidia’s quarterly results were much better than expected, and the whole overheating Blackwell chips thing was overblown, says the company. The AI chip king just can’t make enough Blackwells and gross margin will be improving next year, producing much better numbers. Lots of stories about guidance not being good enough, which is, alas, untrue, too. As we wrote for Investing Club members , Nvidia’s report clear our lofty bar and we upped our price target in response. 2. Nvidia shares actually on track to open more than 1% higher after initially being lower in extended trading Wednesday. Its turnaround was helping the broader market, with all three U.S. stock benchmarks working into the green in the premarket. Bitcoin’s furious postelection rally continued, topping the $98,000 level for the first time. 3. Palo Alto Networks reported a very strong quarter with a 21% gain in remaining performance obligations (RPO ), a key metric of total value of contracted revenue yet to be delivered. CEO Nikesh Arora, who appeared on “Mad Money” on Wednesday evening, said he refuses to be judged by billings, arguing they are no longer an accurate depiction of growth at the cybersecurity company. 4. Snowflake shares surged more than 20% after reporting the quarter we were looking for. The data analytics software maker’s RPO of $5.7 billion represented 55% year-over-year growth, while product revenue soared 29%. They are taking it to Databricks and, without naming anyone, talked about the cost of implementing their competitors’ tools. I think there is a lot of sampling going on, and Software’s consumption model works as a way to test AI. 5. There were multiple Palo Alto Networks price target hikes from Wall Street analysts. We went to $450 per share from $380 on the Club stock. Shares, however, were lower Thursday morning. Perhaps, it’s some profit-taking since the stock ran up ahead of earnings. 6. Multiple analyst price target cuts for Target after Wednesday’s earnings disaster. The stock lost more than 21% during the regular session. It was up modestly Thursday morning. So far, there were no major downgrades. Research firms are keeping their buy or hold ratings on shares. Some analysts cited problems like shipping and others pointed to cyclicality. I think it’s more about competition from Walmart and Club names Costco and Amazon . 7. There were big, big price target hikes for misunderstood Club name TJX Companies . We raised our price target to $135 per share from $130. It’s very strange that this keeps happening. The off-price retailer behind T.J. Maxx, Marshalls and HomeGoods is a known under-promise, over-deliver company when it comes to guidance and earnings. 8. Club holding GE Healthcare offered positive medium-term financial targets at its investor day. The maker of MRI machines and other medical devices expects adjusted EBIT, or earnings before interest and taxes, to grow in the high teens to 20% between 2026 and 2028. It also qualified the long-term revenue opportunity it sees for two key radiopharmaceuticals, Vizamyl for Alzheimer’s and Flyrcado for coronary artery disease. 9. Oppenheimer raised its Salesforce price target to $385 per share from $330. The analysts said that hiring at Salesforce and the trend of companies boosting their IT budgets indicate a better-than-expected quarter coming up for the Club holding. Salesforce is set to report earnings after the market close on Dec. 3. 10. Citi research analysts raised their Goldman Sachs price target to $585 per share from $485. Kind of a catch-up call since the stock trades around the new PT level. The analysts kept their neutral rating, saying the market is pushing this one too hard. I think, however, there will be many more IPOs coming, which would really tee up the likes of Goldman as well as Club names Morgan Stanley and to some extent Wells Fargo. 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. 21
1. Nvidia’s quarterly results were much better than expected, and the whole overheating Blackwell chips thing was overblown, says the company. The AI chip king just can’t make enough Blackwells and gross margin will be improving next year, producing much better numbers. Lots of stories about guidance not being good enough, which is, alas, untrue, too. As we wrote for Investing Club members, Nvidia’s report clear our lofty bar and we upped our price target in response.
2. Nvidia shares actually on track to open more than 1% higher after initially being lower in extended trading Wednesday. Its turnaround was helping the broader market, with all three U.S. stock benchmarks working into the green in the premarket. Bitcoin’s furious postelection rally continued, topping the $98,000 level for the first time.
