My top 10 things to watch Tuesday, July 23 1. Several key earnings reports before the bell: General Motors posted big numbers , beating Wall Street’s expectations for the second quarter, and raised its financial targets for the rest of the year. United Parcel Service missed profit and sales estimates and lowered its guidance . Coca-Cola beat and raised on growing global demand for its drinks . Comcast missed on revenues ( weaker theme parks and movies ) but beat on EPS. GE Aerospace was much better than expected and raised forecast. 2. Bottom put in for Domino’s Pizza , estimates are now too low. I had CEO Russell Weiner on “Mad Money” Monday night , where we discussed the weakened guidance the company gave last week for the global side of its business. 3. JPMorgan lowered its price target for Verizon by a buck to $45 following the company’s mixed quarter on Monday, but said the 6% sell-off in the stock was overdone. The analysts noted positive momentum for consumer postpaid phone adds in 2024. 4. Cowen downgraded shares of Darden to hold from buy, said it sees stagnation with risks outweighing tailwinds in a tough backdrop for full-service restaurants. Price target dropped to $150 from $170. 5. Piper Sandler raised it price target on Microsoft shares to $485 from $465. The firm said the broader cloud transition is still big, could have double-digit sales and earnings growth through 2030. It’s really an insanely bullish call. 6. HSBC downgraded CrowdStrike to hold from buy on near-term risks following its global IT outage last week. I say buy cybersecurity peer Palo Alto . 7. Barclays lowered its price targets on both Halliburton and SLB . Halliburton’s quarter was bad, but SLB was good … 8. Warner Bros. Discovery told the NBA it plans to match Amazon ‘s media rights package. The media company acquired matching rights as part of its previous deal with the league, which expires at the end of next season. 9. Charles Schwab ‘s price target lowered to $82 from $85 at JMP Securities, but kept its buy rating. The firm cited some uncertainty due to moves by its bigger wealth management peers. 10. Morgan Stanley took Snap to hold from sell. I continue to like Pinterest and Reddit . 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 first of 80 Haliade 150-6MW Offshore Wind Turbine produced for France’s future first wind farm off Saint-Nazaire, is pictured at the General Electric plant of Montoir-de-Bretagne, Britany.
Sebastien Salom-Gomis | AFP | Getty Images
My top 10 things to watch Tuesday, July 23
1. Several key earnings reports before the bell:
2. Bottom put in for Domino’s Pizza, estimates are now too low. I had CEO Russell Weiner on “Mad Money” Monday night, where we discussed the weakened guidance the company gave last week for the global side of its business.
3. JPMorgan lowered its price target for Verizon by a buck to $45 following the company’s mixed quarter on Monday, but said the 6% sell-off in the stock was overdone. The analysts noted positive momentum for consumer postpaid phone adds in 2024.
4. Cowen downgraded shares of Darden to hold from buy, said it sees stagnation with risks outweighing tailwinds in a tough backdrop for full-service restaurants. Price target dropped to $150 from $170.
5. Piper Sandler raised it price target on Microsoft shares to $485 from $465. The firm said the broader cloud transition is still big, could have double-digit sales and earnings growth through 2030. It’s really an insanely bullish call.
6. HSBC downgraded CrowdStrike to hold from buy on near-term risks following its global IT outage last week. I say buy cybersecurity peer Palo Alto.
7. Barclays lowered its price targets on both Halliburton and SLB. Halliburton’s quarter was bad, but SLB was good …
8.Warner Bros. Discovery told the NBA it plans to match Amazon‘s media rights package. The media company acquired matching rights as part of its previous deal with the league, which expires at the end of next season.
9. Charles Schwab‘s price target lowered to $82 from $85 at JMP Securities, but kept its buy rating. The firm cited some uncertainty due to moves by its bigger wealth management peers.
10. Morgan Stanley took Snap to hold from sell. I continue to like Pinterest and Reddit.
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.)
What Investing Club members are reading right now
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.
Denial of responsibility! NewsConcerns is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.
