My top 10 things to watch Tuesday, May 20 1. Shares of Club name Home Depot are higher after earnings this morning. Monthly sales cadence was great, with March and April improving after a weak February. It also reaffirmed its full-year guidance and said it won’t raise prices due to tariffs. Shares of the home improvement retailer gained 2.4%. 2. Advanced Micro Devices sold off the server manufacturing business of recently acquired ZT Systems to Sanmina for $3 billion. I had hoped for a $5 billion sale, so I’m not that excited. AMD’s reason for buying ZT was its engineers to better compete with Club name Nvidia in designing full server racks. 3. Loop Capital downgraded enterprise darling MongoDB on slowing adoption of its flagship Atlas platform. The analysts said that the decelerating trend could continue and slashed price target to $190 from $350. The stock slipped 2%. 4. Boeing price target raised to $249 from $218 at Bernstein, citing new widebody orders and a restart of deliveries to China. This one could be a juggernaut now. 5. RBN Energy says there is a tremendous buzz about natural-gas-fired turbines, with backlogs stretching five years out. 6. UnitedHealth price target lowered to $390 from $501 at Wolfe Research, which cut estimates after the insurer pulled its guidance. But I harp on the giant insider buys, including by new CEO Stephen Hemsley, who bought $25 million worth of shares on Friday. 7. The Hong Kong trading debut of the Contemporary Amperex Technology (CATL), the world’s largest battery maker, was very successful. Shares rose more than 16% Tuesday. 8. Strange call: Chubb downgraded to hold from buy at Deutsche Bank, which says the stock has just been too strong. 9. Morgan Stanley downgraded popular enterprise software company Asana to sell from hold, as Monday.com takes market share. 10. BTIG said Booking Holdings’ business is picking up in the second quarter, called out “stable trends” on its Q1 earnings call. 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.
Lisa Su, chairwoman and CEO of Advanced Micro Devices (AMD), delivers the opening keynote speech at Computex 2024, Taiwan’s premier tech expo, in Taipei on June 3, 2024.
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My top 10 things to watch Tuesday, May 20
1. Shares of Club name Home Depot are higher after earnings this morning. Monthly sales cadence was great, with March and April improving after a weak February. It also reaffirmed its full-year guidance and said it won’t raise prices due to tariffs. Shares of the home improvement retailer gained 2.4%.
2. Advanced Micro Devices sold off the server manufacturing business of recently acquired ZT Systems to Sanmina for $3 billion. I had hoped for a $5 billion sale, so I’m not that excited. AMD’s reason for buying ZT was its engineers to better compete with Club name Nvidia in designing full server racks.
3. Loop Capital downgraded enterprise darling MongoDB on slowing adoption of its flagship Atlas platform. The analysts said that the decelerating trend could continue and slashed price target to $190 from $350. The stock slipped 2%.
