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Morgan Stanley's preference for defensive quality stocks has only increased since June, even as major U.S. indexes have continued to reach new highs. Wilson highlighted his stock screen of quality and defensive names, which are long ideas with overweight ratings from the firm's analysts that are also in the top 1,000 universe by market cap. Take a look at some of Morgan Stanley's favorite names below: AbbVie made the cut as one of the firm's top quality and defensive stocks. Analysts surveyed by FactSet have a price target on AbbVie shares that suggest just 3.2% upside from its latest close. Other Morgan Stanley defensive and quality favorites include consumer discretionary names Walmart and Lowe's .
Persons: Morgan, Michael Wilson, Wilson, Morgan Stanley's, AbbVie, Northrop Grumman, Morgan Stanley, Kristine Liwag, Brian Nowak, Meta Organizations: Public Service Enterprise Group, Northrop Grumman, Federal, Aerospace, U.S, Walmart
But, like us, Wall Street analysts have not waivered in their buy recommendations on Nvidia, despite acknowledging the semiconductor giant's opportunity in China may be diminished long term. Morgan Stanley left its Nvidia earnings estimates unchanged but adjusted the premium it expects investors to pay for those future earnings. All three firms maintained buy-equivalent ratings on Nvidia stock. The tougher export rules announced Tuesday specifically hit a pair of Nvidia AI chips designed to comply with Washington's initial restrictions last year. The A800 and H800 have slower data-transfer speeds than the cutting-edge AI chips Nvidia sells to U.S. technology firms, such as fellow Club holdings Microsoft (MSFT) and Oracle (ORCL).
Persons: Morgan Stanley, , KeyBanc, Piper, Jim Cramer's, Jim Cramer, Jim, Tyrone Siu Organizations: Nvidia, Wall Street, Club, NVIDIA, Citigroup, Microsoft, Oracle, ., Nvidia —, CNBC, Nvidia Corporation Locations: China, San Francisco, U.S, Taipei, Taiwan
Meanwhile, S & P 500 companies are spending more and more on capital expenditures (CapEx). Certainly, some companies execute wise buybacks, while others are not as ideal. Humana repurchased $529 million worth of common stock in the second quarter, after spending only $4 million in the year-ago period. Of course, companies also must consider their spending on buybacks versus investments back in the business in order to support growth, such as new manufacturing equipment or data centers. But less spending on buybacks is not necessarily something to worry about.
Persons: BofA, Savita Subramanian, Wells, Wells Fargo, Caterpillar Morgan Stanley, Halliburton Emerson, Eli Lilly, Emerson, we've, It's, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: of America, GE Healthcare, Caterpillar, Humana, Halliburton, HAL, Humana . Halliburton, Bank, Microsoft, Linde, LIN, Natural Resources, Honeywell, Halliburton Emerson Electric, Ford, Procter, Gamble, Coterra, Bank of America, Bank of, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Wells Fargo, Wells
Eli Lilly CEO Dave Ricks told CNBC's Jim Cramer on Tuesday his top priority was to meet demand for the company's drug, Mounjaro, which is currently only approved by the Food and Drug Administration to treat diabetes but is expected to soon be cleared to treat obesity, along with other health conditions. Eli Lilly stock surged 15% Tuesday after its better-than-expected earnings report. He likened obesity to depression, noting Eli Lilly's role in manufacturing Prozac, the depression drug. We know that's not true, there's something called clinical depression," Ricks said. I think in five, 10 years we'll look back and think about chronic weight management and obesity the same way."
Persons: Eli Lilly, Dave Ricks, CNBC's Jim Cramer, Ricks, FactSet —, Eli Lilly's Organizations: Food and Drug Administration Locations: North Carolina
But, as Jim Cramer said Wednesday stocks in other parts of the market have started to come "back from the dead." Here's a look at where we stand on these eight Club stocks, starting with the biggest gainer, Halliburton, and concluding with the eighth-best performer, TJX Companies. HAL 3M mountain Halliburton's stock performance over the past three months. CAT 3M mountain Caterpillar's stock performance over the past three months. TJX 3M mountain TJX Companies' stock performance over the past three months.
Persons: It's, Jim Cramer, Wells, Morgan Stanley, Wells Fargo, Elliott Management, Jim, STZ, Emerson, bode, Morgan Stanley's, Morgan, TJ Maxx, we're, TJX, Jim Cramer's, Jamie Schwaberow Organizations: Halliburton, HAL, Caterpillar, Nvidia, Constellation Brands, Emerson Electric, Coterra Energy, TJX Companies, CAT, Wells, Apple, Corona, Modelo, Constellation, Emerson, Morgan, Goods, CNBC, Workers, Halliburton Co, Anadarko Petroleum Corp, Bloomberg, Getty Locations: Wells Fargo, Wells, Dacono , Colorado, U.S
Tesla published its Q1 production and deliveries data Sunday, reporting a record number of deliveries. The electric vehicle manufacturer reported production of about 440,000 vehicles, and just under 423,000 vehicle deliveries, the closest figure to sales that Tesla reports, in the first quarter. The car maker fell short of analyst expectations from FactSet — an average of 432,000 deliveries reported Friday — cited in the Wall Street Journal and CNBC. The Treasury Department also recently released new regulations for electric vehicle tax credits, which are set to go into effect later this month. They could impact the demand and affordability for Teslas and other electric vehicles as certain models become ineligible for $7,500 tax credits.
Data providers that automatically pull from companies' quarterly releases in calculating trailing price-to-earnings (P/E) sometimes bring in numbers that are not the ones used by Wall Street. However, for trailing P/E purposes, the adjusted earnings-per-share number is usually the one to use. The one-time items are just that, they can change from quarter to quarter or not occur at all. That's why instead of using trailing earnings as our yardstick, we use forward earnings expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Darden Restaurants — Shares of Olive Garden's parent company fell more than 4% after Darden's fiscal first-quarter results showed lighter-than-expected revenue. The company reported $1.56 in earnings per share on $2.45 billion of revenue. Eli Lilly — The pharmaceutical stock climbed 4.2% after UBS upgraded Eli Lilly to buy from neutral. KB Home – Shares of homebuilder KB Home slipped 4% after the company reported earnings that disappointed Wall Street's revenue expectations. The company reported $3.13 in adjusted earnings per share, below the $3.20 anticipated by analysts, according to Refinitiv.
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