My top 10 things to watch Monday, April 14
1. Apple and Nvidia got temporary tariff reprieve on electronics, and the Club stocks jumped. I don’t trust it. My column on Sunday explores what’s happening. Wall Street was heading for a higher open after a wild week.
2. Following Friday night’s exemption guidance, Commerce Secretary Howard Lutnick swooped in on Sunday and suggested they are temporary, with separate electronics levies “coming soon.”
3. JPMorgan called the tariff exemption for Apple a “big relief.” The Club stock jumped 6%. However, the JPMorgan analysts, who kept their overweight buy rating, cut their price target as they remained cautious.
4. Goldman Sachs delivered a solid first-quarter beat on earnings and revenue — boosted by equity trading during this tumultuous time. The Club stock jumped. CEO David Solomon hinted at the tariff uncertainty, “We are entering the second quarter with a markedly different operating environment.”
5. Piper Sandler cut its Wells Fargo price target, citing valuation. I question how the Club name missed the quarter Friday when the cadence was good and the compliance overhang is lessening.
6. Citi lowered its year-end target for the S&P 500 to 5,800 — implying just 8% upside from Friday’s close. The analysts, however, see “more upside from here to our bull case relative to downside to the bear.”
7. Is a sinking dollar that bad? We have had dollar rallies for years, which have presented challenges for U.S. companies doing business overseas. The other side: A lower dollar signals lower confidence in the U.S. economy.
8. Citi reduced its price targets on a host of American industrial companies, including Club names Eaton, Dover, and Honeywell. However, the analysts see all these stocks being well-positioned to weather the tariff storm.
9. Wells Fargo analysts cut their ServiceNow price target, citing elongated sales cycles. I wonder if 13% sales to the federal government is too much. Are they considered a worthy consultant or an extraneous one?
10. Pfizer said today it is ending the development of daily oral GLP-1 weight loss drug danuglipron after a patient in the trials suffered liver injury. Pfizer and other drugmakers are trying to break into the GLP-1 market dominated by Novo Nordisk and Club name Eli Lilly.
Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free
(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)
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.
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. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
