My top 10 things to watch Wednesday, July 2 1. Apple was upgraded to a hold from sell at Jefferies, which said its pull-forward sales due to tariffs, along with market share recovery in China, could raise June quarter sales and EPS 5% to 9% higher than the Street consensus. But second half of year not so hot. 2. Big bank stocks were up in the premarket after announcing dividends and buybacks following the Federal Reserve’s stress test last week. The stars are JPMorgan and Goldman Sachs : The former raised its dividend by a dime to $1.50 a share and authorized a $50 billion buyback, while the latter hiked its dividend by a buck to $4.00 a share. 3. Defense contractor AeroVironment : 3.53 million share secondary offering priced at $248 apiece, on the back of my call last week that it was the next Palantir of hardware. 4. Foxconn Technology Group is asking hundreds of Chinese engineers and other technical employees to return home from its iPhone factories in India, Bloomberg News reported . 5. Cantor Fitzgerald started coverage D-Wave Quantum with a buy and $20 price target. No more fighting these quantum computing stocks, Rigetti too. 6. Truist said Alphabet will be fine despite search headwinds, and kept its buy rating and $200 price target ahead of second-quarter earnings. 7. Wolfe Research said to be careful with Jeep owner Stellantis , arguing the downside is not in. The firm downgraded the carmaker to sell from hold, noting “meaningful risk” to 2025 and 2026 earnings. 8. Jefferies upgraded Ross Stores to a buy from hold. This has been the worst of the retailers. We prefer and own TJX Companies , parent of TJ Maxx, Marshalls and HomeGoods. 9. Verint Systems , a maker of call center software, rose 10% in the premarket after Bloomberg reported that Thoma Bravo is in talks to buy the company. Is Thoma Bravo back as a enterprise software company buyer? 10. Centene downgraded to hold from buy at JPMorgan. The managed care company cancelled its 2025 guidance, noting lower enrollment rates in several states. Shares of Centene dropped 30%. 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.
