My top 10 things to watch Wednesday, Aug. 6 1. Wall Street was heading for a higher open this morning as earnings from two Dow stocks, Disney and McDonalds , went in opposite directions. Weaker economic data as well as pharma and semiconductor tariff comments from President Donald Trump on CNBC yesterday knocked the market down Monday. 2. Disney shares dropped 1% after the entertainment giant reported a mixed fiscal third quarter. Earnings per share beat but revenue missed. Streaming grew and consumers spent more at parks. Club name Disney also announced the EPSN direct-to-consumer launch date , Aug. 21, and confirmed the ESPN-NFL deal. 3. McDonald’s shares jumped 3.5% after the fast-food giant beat on second-quarter EPS and revenue. Promotions helped drive a U.S. restaurants sales rebound following two straight quarters of declines. McDonald’s had a “Minecraft” movie tie-in and launched of the McCrispy Chicken Strips. 4. Uber matched estimates with earnings and beat on revenue. The ride and delivery company announced a $20 billion stock buyback. Pushing into self-driving and AI are big focuses for Uber, which launched its robotaxi service in partnership with Alphabet’s Waymo in Austin in March. Uber stock rose 1%. 5. Snap shares sank nearly 20% after the Snapchat parent reported a revenue miss and fewer-than-expected global daily active users. Ad revenue growth of 4% is bad, well behind the quarterly growth rates of Club name Meta at 21.5%, Google at 10.4% — and especially, Reddit at 84%. 6. The 5% pullback in AMD shares is just profit-taking. Don’t obsess on the impact of China restriction’s on its data center growth. Melius is right to raise its price target to $205 a share from $175. Deutsche Bank keeps its hold, but raises its PT to $150. Still below where the stock is, for heaven’s sake. 7. Super Micro shares dropped 17% after the high-performance servers provider missed on quarterly EPS and revenue. How much of this miss is competition from Dell ? Super Micro also issued weak current quarter guidance. CEO Charles Liang said on the post-earnings conference call that tariff mitigation efforts will bear fruit. 8. Analysts at both Morgan Stanley and Citi raised their price targets on Club name Eaton to $425. They both kept their buy-equivalent ratings as well. Both shops indicated the sell-off and the margin headwinds will abate. We upgraded the stock to our 1 rating buy after yesterday’s beat and raise. 9. Arista Networks hit a home run with its quarter and the stock jumped more than 12%. The cloud networking company’s current quarter guidance also exceeded expectations. Melius Research raised its price target to $160 from $137. It was the best quarter of the night. Arista just crushed it. 10. Citizens JMP raised its MNTN price target to $33 from $30 and kept its outperform buy rating. The ad tech company, which has actor Ryan Reynolds as chief creative officer, reported its first quarter as a public company last night. Adjusted EBITDA and revenue beat and so did guidance. I spoke with MNTN CEO Mark Douglas on “Mad Money” about the digital ad landscape. 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.
