Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m.
Watch Emerson Electric JPMorgan on Tuesday upgraded Emerson Electric (EMR) to overweight, or buy, form hold.
Still, Jim Cramer said Tuesday that the company is "not managed the way I like it to be."
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons:
Jim Cramer, it's, Emerson, Jim, We'll, Mary Dillon, Jim Cramer'sOrganizations:CNBC, Watch Emerson, Nasdaq, Treasury, West Texas, Watch Emerson Electric JPMorgan, Emerson, JPMorgan, National Instruments, Sporting, Club, NvidiaLocations:Danaher
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Call: SPY, DKS, KSSThe final call of the day with the Options Action traders.
Organizations:Options
Wall Street analysts named a list of stocks this week that they say could offer protection for investors as market tension rises.
"We view Zscaler as a best-in-class, next generation cybersecurity company built for the distributed cloud world," he added.
Earlier this week, the firm initiated coverage of the aerospace and defense components company with a buy rating.
Zscaler - BTIG, buy rating "Over the last couple of months, we have spoken with seven contacts with a view on ZS, and feedback has been consistently positive.
TransDigm Group - Citi, buy rating "The company's focus on proprietary products & lean operations affords pricing power and margin expansion potential.
Persons:
Jason Kupferberg, Kupferberg, TOST, Zscaler, Gray Powell, Powell, Jason Gursky, Gursky, TransDigm, BURL, ROST, LULU, NetEase, Morgan StanleyOrganizations:CNBC, Urban Outfitters, Toast Bank of America, TransDigm Group Citi, TransDigm, Barclays, Free, Citi, NetEase, Bank of America, TAMLocations:2H23
"Our quarterly earnings quality (EQ) score is an objective way to identify potential accounting related short ideas and as a risk tool to avoid potential blow-ups in the portfolio," Senyek said.
CNBC pulled six stocks from the Wolfe list across a range of sectors.
Rivian made the list with an earnings quality score of just 3.
Shockwave Medical , meanwhile, fits on the Wolfe list due to issues pertaining to cash flow constraints and research and development amortization.
In consumer staples, Dick's Sporting Goods is on the Wolfe list with a rating of 9 out of 100.
Persons:
Wolfe, Chris Senyek, Senyek, Rivian, Morgan Stanley, Dick's, — CNBC's Michael BloomOrganizations:CNBC, FactSet, Shockwave, ShockWave, Centers, Medicare, Medicaid Services, Sporting Goods, Lucid
With the end of another earnings season in sight, Wall Street's attention has turned to Washington and the debt ceiling deadline.
Republican negotiators on Friday walked out of talks on raising the debt limit , abruptly ending a positive week of discussions that appeared to be leading toward a deal.
Democrats and the White House have been pushing for a "clean" hike to the debt limit that would push the next deadline past the 2024 presidential election, while Republicans are pressing for spending cuts.
Many investors believe this ongoing game of chicken over the debt limit is largely for show, since the U.S. has never defaulted on its debt obligations.
U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) and other congressional leaders in the Oval Office at the White House in Washington, U.S., May 9, 2023.
May 19 (Reuters) - Foot Locker Inc's (FL.N) shares closed down 27% on Friday as the footwear retailer cut its annual sales and profit forecasts amid a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories.
The company also missed analysts' estimates for first-quarter results and named former Kohl's Corp (KSS.N) executive Mike Baughn as its new finance chief, effective June 12.
Foot Locker doubled down on discounts to drive demand, which coupled with an increase in theft-related inventory losses led to a 400-basis point hit to the company's quarterly gross margins.
Foot Locker now expects full-year comparable sales to fall between 7.5% and 9.0%.
The company also forecast annual adjusted per-share earnings between $2.00 and $2.25, compared with its previous outlook of $3.35 to $3.65.
Citi upgrades Squarespace to buy from neutral Citi said it sees an "improved growth outlook" for the website hosing company.
Citi reiterates Netflix as buy Citi said it sees more upside in shares of Netflix.
Credit Suisse upgrades Zebra Technologies to outperform from neutral Credit Suisse upgraded the computer technology company due to Zebra' s strength in Europe.
Credit Suisse reiterates Amazon as outperform Credit Suisse said it's standing by shares of Amazon heading into earnings later this week.
Citi reiterates Meta as buy Citi said it's staying bullish heading into Meta earnings on Wednesday. "
Bank of America reiterates Alphabet as buy Bank of America says it's bullish heading into Alphabet earnings next week.
JPMorgan reiterates Amazon as a best idea JPMorgan says it's bullish heading into the e-commerce giant's earnings report next week.
"We continue to see streaming music & audio as an attractive growth market and remain OW WMG and SPOT."
Stephens initiates SentinelOne as overweight Stephens initiated the cyber security company with an overweight and says it has "best-in-class growth."
JPMorgan reiterates Charles Schwab as overweight JPMorgan says Charles Schwab could be worth more if it were to "de-bank."
Here are Tuesday's biggest calls on Wall Street: Barclays reiterates Apple as equal weight Barclays said Apple advertising on its own apps is very underappreciated.
Bank of America upgrades Paramount to buy from neutral Bank of America said the media company has a "unique collection of assets."
Bank of America downgrades Fox to neutral from buy Bank of America said it sees a lack of near-term catalysts for Fox .
Wells Fargo upgrades Carnival to equal weight from underweight Wells said it sees a more balanced risk/reward for the cruise operator.
Morgan Stanley reiterates Dick's as overweight Morgan Stanley said shares of Dick's are undervalued. "
Wells Fargo reiterates PNC as overweight Wells said PNC should benefit from a "flight to quality."
Deutsche Bank reiterates Charles Schwab as buy Deutsche said liquidity risks for Charles Schwab are overblown.
Wells Fargo reiterates Western Alliance Bancorp as overweight Wells said it's standing by shares of the regional bank.
Wells Fargo reiterates American Express as overweight Wells said investors should buy the dip in American Express shares.
Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on shares of Amazon.
Barclays raises price target on Zillow (Z) to $30 per share from $24 but keeps underweight (sell) rating.
Industrial gas and engineering giant Linde (LIN) gets another price target boost: UBS goes to $410 per share from $375.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a 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.
The remarks followed recent data showing an unexpected inflation increase in January and an unusually large jobs gain for the month.
Traders dramatically raised their bets for a 50-basis-point rate hike in March after Powell's comments, with money market futures last pricing in a more than 70% chance of such a move, up from around 31% on Monday, according to CME Group's FedWatch tool.
Data influencing the Fed's rate hiking path will include Friday's closely watched nonfarm payroll additions for February.
Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, hit 5% for the first time since July 2007.
Dick's Sporting Goods (DKS.N) rallied 11% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.
Equities lost ground right after Powell's prepared remarks were released ahead of his testimony and sank further as the session wore on.
Powell told U.S. lawmakers the Fed is prepared to move in larger steps if economic data suggests tougher measures are needed to control rising prices.
Data the Fed will use to influence its rate hiking path will include Friday's non-farm payroll numbers.
Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, hit 5% for the first time since July 2007.
Dick's Sporting Goods (DKS.N) was up 9.6% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.
Meanwhile, Fed fund rates were seen peaking at 5.6% in September compared to 5.47% earlier.
Investors are awaiting data later this week that is expected to show nonfarm payrolls increased by 200,000 in February, compared with the much stronger-than-expected 517,000 jobs reported in January.
All the 11 major S&P sectors fell, with cyclical sectors such as financials (.SPSY) and materials (.SPLRCM) leading declines.
Meanwhile, the yield on two-year Treasury notes , which best reflects short-term rate expectations, rebounded to its highest since 2007 at 4.96%.
The S&P 500 recorded 10 new 52-week highs and six new lows, while the Nasdaq posted 40 new highs and 112 new lows.
Traders drastically increased their bets of a 50-basis-point rate hike in March after Powell's comments, with money market futures pricing a more than 40% chance of such a move, from 23% before the remarks.
Meanwhile, Fed fund rates were seen peaking at 5.56% in September compared to 5.47% earlier.
Investors are awaiting data later this week that is expected to show nonfarm payrolls increased by 200,000 in February, compared with the much stronger-than-expected 517,000 jobs reported in January.
Among individual stocks, Rivian Automotive (RIVN.O) tumbled 10.5% after the electric automaker unveiled plans to sell bonds worth $1.3 billion.
The S&P index recorded 10 new 52-week highs and four new lows, while the Nasdaq recorded 30 new highs and 77 new lows.
ET (1500 GMT), with investors awaiting his comments on the Fed's steps aimed at bringing inflation towards its 2% target.
Rising bond yields tend to weigh on equity valuations, particularly those of growth and technology stocks, as higher rates reduce the value of future cash flows.
ET, Dow e-minis were up 25 points, or 0.07%, S&P 500 e-minis were up 6.25 points, or 0.15%, and Nasdaq 100 e-minis were up 32.5 points, or 0.26%.
Dick's Sporting Goods (DKS.N) rose 6.1% after the retailer forecast annual earnings above Wall Street estimates and more than doubled its quarterly dividend.
Reporting by Sruthi Shankar and Bansari Mayur Kamdar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: SNAP, DKS and DALBoris Schlossberg, BK Asset Management managing director, joins 'Power Lunch' to discuss three favorable stocks to invest in during the current market downturn.
Meta Platforms ' (META) "year of efficiency" set to continue: Bloomberg is reporting job cuts in the thousands could happen as soon as this week.
WW International (WW) is higher after announcing deal to acquire the anti-obesity-focused telehealth provider Sequence.
(Jim Cramer's Charitable Trust is long META, LIN, CSCO, AMZN, LLY.
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.
Where the market heads next will once again depend on inflation data — especially this week's highly anticipated jobs report.
No portfolio companies report earnings next week.
However, with mortgage rates bouncing back in recent weeks, it remains to be seen if the strong monthly report will see any follow up.
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.
Sign up for my Top 10 Morning Thoughts on the market email newsletter for free 2.
RBC Capital calls General Electric (GE) a buy ahead of next week's analyst day; ahead of separation of energy and power businesses into GE Vernova.
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.
A tough outlook for 2023 may weigh on shares of Dick's Sporting Goods in the near term, according to Citi.
Analyst Paul Lejuez downgraded the sports retailer's stock to neutral from buy, citing concerns of near-term gross margin pressures as excess inventory lingers and demand potentially slows.
DKS 1D mountain Dick's Sporting Goods shares fall on Citi downgrade Shares of Dick's Sporting Goods fell 2% before the bell on the downgrade.
Even though the company's grown sales by $3.5 billion since 2019, Lejuez sees limited opportunity for further expansion given the slowing backdrop for apparel and footwear.
Lejuez also trimmed the bank's price target to $140 from $143 a share, reflecting 8% upside from Monday's close.
Here are Tuesday's biggest calls on Wall Street: Mizuho reiterates Tesla as buy Mizuho said it's standing by its buy rating heading into the company's analyst day on March 1.
Barclays reiterates Apple as equal weight Barclays said low growth in the App Store is the "new norm" for Apple.
Morgan Stand reiterates Dick's as overweight Morgan Stanley said it's standing by its overweight rating heading into Dick's earnings on March 7.
Bank of America downgrades Dish to underperform from buy Bank of America said it sees inflationary pressure for the satellite TV company.
Deutsche Bank reiterates Salesforce as buy Deutsche Bank said it's standing by shares of Salesforce heading into earnings on Wednesday.