What I see on July 6, 2022 Was Micron (MU) the first time we saw a stock rise after a forecast cut, and was it because it sold at only 5 times earnings? If falling interest rates are a sign of a recession, why climb the most sensitive part of the recession, homebuilders? Or could the fall in interest rates be a sign that inflation is declining and that the Federal Reserve is winning? Piper is lowering the price target for American Express (AXP) to $ 163 per share from $ 202, worried that an economic downturn will disrupt discretionary spending and travel across national borders, although there is no sign of that happening. PayPal (PYPL), a club name, for $ 93 from $ 140; Block (SQ) to $ 84 from $ 105. Like AXP more. Same with Visa (V) for $ 204 from $ 239. This will trade with AXP. Mastercard (MA) for $ 298 from $ 357. Fintech remains hated? Piper Sandler cuts the price target of a once-high-flying Cloudflare (NET) to $ 57 per share from $ 83, says internet traffic is growing at half the normal speed. More pressure on sub-verticals, including media and e-commerce. Fastly (FSLY) goes up to $ 13 per share from $ 19; Akamai (AKAM) for $ 102 from $ 118. RBC Capital downgrades club name Pioneer Natural Resources (PXD) to keep from buying (sector performs from better results), says others will catch up as this has the highest dividend yield in the S&P 500. It’s amazing how quickly fair-weather friends beat on this group; same with EOG Resources (EOG), best of best. You need to realize that these have the best features and the best returns. Abbott (ABT) started with a sale (underperform) and a price target of $ 95 per share by Wolfe, says that valuation does not make sense; same with Medtronic (MDT) with $ 85 price target, which they say is a value trap. Atlantic is holding back from buying on the Coinbase (COIN) price target, which rose 10% percent on Tuesday. The Voyager network collapsed Tuesday night. Voyager had a $ 485 million credit line from Sam Bankman-Peace’s Alameda Research unit. They say they can not get good talents. No kidding with pulling job offers. Bitcoin is trying to hold $ 20,000. That’s the level large cryptocurrencies are trying to back up, to bring in more players. Beijing orders a Covid vaccine mandate for the first time. HCA Healthcare (HCA) downgraded to BMO Capital to sell from hold (underperformance from market results), reducing the price target to $ 160 per share from $ 233. Barclays cuts its price target on PepsiCo (PEP) to $ 183 per share from $ 187, but on the high end of Wall Street estimates for the second quarter. JPMorgan says that the risk reward is good by going into quarterly results on July 12, reducing the price target to $ 185 from $ 186. What’s the point of these mini price target movements? Netflix (NFLX) price target on Barclays cut to $ 170 per share from $ 275, saying it could lose 2.8 million subs more than the company thought. The stock closed Tuesday at nearly $ 186. The club name Amazon (AMZN) takes ownership in Grubhub and goes against DoorDash (DASH), which fell 7% in the advance market after closing more than 10% higher on Tuesday. Wells Fargo upgrades mortgage fintech Rocket Companies (RKT), saying other pain may be Rockets gain. However, short-term earnings are likely to be rough; Raise the price target to $ 10 per share from $ 6.50. Paper Excellence Group agrees to buy Resolute Forest Products (RFP) for $ 1.6 billion in cash. RFP shares are up 66% in the advance market. (Jim Cramer’s Charitable Trust is long PYPL, PXD and AMZN. See here for a complete listing of the shares.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive an exchange notice 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.
People walk past the New York Stock Exchange on May 12, 2022 in New York City.
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What I see on July 6, 2022
Was Micron (MU) the first time we saw a stock rally after a forecast cut, and was it because it sold for only 5 times earnings? If falling interest rates are a sign of a recession, why climb the most sensitive part of the recession, homebuilders? Or could the fall in interest rates be a sign that inflation is declining and that the Federal Reserve is winning?
Piper is lowering the price target for American Express (AXP) to $ 163 per share from $ 202, worried that an economic downturn will disrupt discretionary spending and travel across national borders, although there is no sign of that happening. PayPal (PYPL), a club name, for $ 93 from $ 140; Block (SQ) to $ 84 from $ 105. Like AXP more. Same with Visa (V) for $ 204 from $ 239. This will trade with AXP. Mastercard (MA) for $ 298 from $ 357. Fintech remains hated?
