What Cramer is looking at on Tuesday – 3rd quarter stumbles, cryptocurrency, Tesla tremor
by Arthur · July 5, 2022
What I see on July 5, 2022 Another downturn from another downturn? The dollar is too strong. Is the Federal Reserve winning everywhere? Shares fall on Day 2 of the third quarter on Wall Street. The market was closed on Monday for the 4th of July holiday. HP Inc. (HPQ) downgraded to hold from purchases (in line with better results) at Evercore. Tesla’s (TSLA) price target trimmed to $ 385 per share from $ 395 at JPMorgan, which has hated it forever. Lack of production due to China. Wedbush says Tesla can deliver a bad number. Wedbush cuts Carvana (CVNA) price target to $ 50 per share from $ 90. Stocks down 90% so far this year, and are already trading at low $ 20s. UBS says that Kohl’s (KSS) final review process is a significant negative. Baird price target goes to $ 42 per share from $ 53, but says attractive after 20% sale. Citi goes to buy from neutral with AB InBev (BUD), says that it is finally an investable case. If you think so, buy the Corona brewer Constellation Brands (STZ), a club name. Barclays raises the Constellation price target to $ 281 per share from $ 272, says a great quarter. JMP Securities starts Shopify (SHOP) with a team (market development). Great investment strategy. Excelerate Energy (EE) upgraded at Wells Fargo to buy from hold (overweight from equal weight). The solution to the European natural gas situation? Pinterest (PINS) price target goes to $ 20 per share from $ 24 at Barclays, sees “perfect storm” against the internet; also Snap (SNAP) as well as club names Alphabet (GOOGL) and Meta Platforms (META). Citi likes the club name Wynn Resorts (WYNN), says that the casino operator will see the way through the Covid crisis. Piper Sandler cuts Netflix (NFLX) price target to $ 210 per share from $ 293. Peak hours fell by 4%. Piper wonders if the management is reactive or proactive? Pretty damn for the whole gang. Citi cuts the price target on Alibaba (BABA) to $ 172 per share from $ 176, saying it reflects more realistic assumptions. The Seagate (STX) benchmark benchmark price is $ 93 per share from $ 100. Really reactive to Micron (MU). China’s three best airlines ordered almost 300 Airbus jets. The crypto market value fell to $ 1 trillion from $ 3.2 trillion last quarter. Vauld, a cryptocurrency lender backed by Coinbase (COIN), has stopped withdrawing and trading; had offered up to 40% to lend tokens; $ 200 million was withdrawn, crypto hedge fund Three Arrows damaged it. Voyager stopped withdrawal. BlockFi stored by FTX so far. Three Arrows, which sought Chapter 15 bankruptcy protection, also owned tons of NFTs. The price target for Domino’s Pizza (DPZ) increases to $ 383 per share from $ 380 at Deutsche Bank. Credit Suisse takes the club name Morgan Stanley (MS) to $ 95 per share from $ 100, but retains a purchase rating (outcompeting). Walgreens Boots Alliance (WBA) price target on RBC Capital lowered to $ 42 per share from $ 46, looks difficult comp. Crocs (CROX) upgraded to buy from hold at Loop Capital, with a price target of $ 75. (Jim Cramer’s Charitable Trust is long STZ, GOOGL, META, WYNN and MS. See here for a complete list of stocks.) As a CNBC Investing Club subscriber 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 charity fund’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before making the trade. THE INVESTMENT CLUB INFORMATION ABOVE IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY RULES TOGETHER WITH OUR DISCLAIMER OF LIABILITY. NO OBLIGATION OR OBLIGATIONS EXIST, OR HAVE BEEN CREATED, IN ACCORDANCE WITH YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR BENEFIT IS GUARANTEED.
Jim Cramer on Mad Money, June 14, 2022.
Scott Mlyn | CNBC
What I see on July 5, 2022
Another down day from another down quarter? The dollar is too strong. Is the Federal Reserve winning everywhere? Shares fall on Day 2 of the third quarter on Wall Street. The market was closed on Monday for the 4th of July holiday.
