A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 21, 2025.
Brendan McDermid | Reuters
My top 10 things to watch Tuesday, April 22
1. Wall Street is headed for a higher open after yesterday’s more than 2% drop in the S&P 500 on concern about President Donald Trump’s attacks on Federal Reserve Chairman Jerome Powell. Is each Truth Social post worth a 2% decline in the market?
2. Club stock Danaher rose more than 5% today after the life sciences company beat quarterly expectations on the top line and the bottom line. Current quarter guidance on core revenue growth was better than expected. Full-year earnings per share outlook roughly matched at the midpoint.
3. GE Aerospace reported a much better-than-expected quarter with great cash flow. Management affirmed full-year guidance, saying it “assumes impact of announced tariffs net of actions” but not a global recession. GE shares jumped 4.5% on the news.
4. Alphabet‘s Google paid Samsung “enormous sums” to have Gemini installed on smartphones to block others, according to court testimony. Bloomberg reports that previous efforts were twice found to violate the law.
5. Citi cut its price target on ServiceNow to $1,082 per share from $1,426 but kept its buy rating. The analysts see weaker deal delays due to Department of Government Efficiency (DOGE) federal downsizing. Others on Wall Street, including JPMorgan, went under $1,000 with their PTs.
6. Citi said Club name Eli Lilly should not have sold off as much as it did on rival Novo Nordisk submitting an oral form of its semaglutide obesity drug to FDA earlier this year. Lilly’s similar pill for weight loss is more effective.
7. Verizon‘s quarterly numbers looked good. But the stock dropped more 5% as the company lost more postpaid net phone subscribers during the last quarter than were expected.
8. Many analysts cut their price targets on Club stock Nvidia, citing China risk. Does that bake in the negatives? Nvidia’s earnings report is still more than a month away. Advanced Micro Devices also got a slew of PT reductions for similar reasons.
9. CoreWeave shares gained nearly 4% today after many Wall Street research analysts had positive things to say about the startup that rents AI chips in their coverage initiation notes. CoreWeave went public last month and remains below its $40 per share offering price.
10. PulteGroup shares popped more than 2% after the homebuilder delivered better than expected earnings and revenue. On the conference call, management said proposed tariffs can raise construction costs.
(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)
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