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Jim Cramer's 10 Things to Watch in the Stock Market on Wednesday
My top 10 things to see Wednesday July 17
- Wall Street is expected to open lower across the board on Wednesday, a day after the release of U.S. stock index results. S&P 500 And Dow Jones Industrial Average Technology stocks closed at record highs. Technology stocks, in particular, were under pressure again, part of the rotation from high-flyers to value and small caps that we have seen since the colder consumer price index was released last week. Are these tech problems or opportunities?
- Chip stocks including Semiconductor manufacturing company in Taiwan The U.S. was under pressure, with comments from Donald Trump contributing to the weakness. The former president and current Republican presidential candidate told Bloomberg Businessweek that Taiwan should pay the U.S. for its defense. At the Investing Club’s July monthly meeting at noon ET on Wednesday, I’ll discuss which companies would benefit from a second Trump presidency and which would be out of favor.
- When will the quarterly failures stop for JB Hunt? The logistics company missed both its financial and revenue targets. But West Coast ports appear healthy. Does that bode well for a strong holiday season for retail? Barclays was among the research firms that cut its price target on JB Hunt in response to the quarter.
- Oppenheimer downgraded Club Holding's rating Morgan Stanley Morgan Stanley was upgraded to a hold-equivalent rating after its earnings release Tuesday morning. Analysts believe Morgan Stanley’s investment banking business still has a long way to go before it normalizes. I couldn’t disagree more. A number of analysts have raised their price targets on Morgan Stanley, as have we at The Club.
- Citigroup lowered its price target on Kraft-Heinz The stock was upgraded to $38 a share from $42, but maintained its buy rating on the stock. Analysts expect the food maker to report earnings below consensus on July 31. To me, Kraft Heinz is the kind of company that needs to lower prices to stimulate demand for its products.
- Barclays raised its price target on You're here Tesla shares jumped from $180 to $225 a share, but that implies the stock could fall about $30 from its Tuesday close. Tesla has been on a strong rally in recent weeks. However, analysts at Barclays, who maintained their “hold” rating on the stock, said the electric vehicle maker’s second-quarter earnings report would prompt investors to confront Tesla’s “still struggling” fundamentals. Love for the company without a concomitant surge in numbers is a bit disconcerting.
- Jefferies modernized UnitedHealth Group buy from hold. I think the health insurance giant has returned to its old winning ways after the serious hack of its Change Healthcare subsidiary earlier this year. The regulatory landscape for UnitedHealth would also become more favorable under another Trump administration.
- Of course, Johnson & JohnsonThe company's second-quarter results were better than expected. Sales of its psoriasis drug Stelara were very strong. However, the company's revised full-year earnings guidance range is skewing it. That's why the stock is down slightly.
- Bank of America Begins Covering Taser Maker Axon Enterprisesaying the company has a “significant head start” to capture growing spending worldwide on public safety. Analysts have a price target of $380, implying an upside of about 19% from Tuesday’s close.
- Guggenheim raised its price target on Netflix The stock raised its share price from $700 to $735 per share and maintained its buy rating. The company raised its subscriber growth estimates and expects the streaming heavyweight to report strong quarterly numbers. There are plenty of reports that this quarter will be much better than expected.
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