My top 10 things to watch Monday, Nov. 10 1. The S & P 500 was tracking for a higher open this morning after Senate lawmakers took a major step toward a deal to end the U.S. government shutdown. The potential agreement would reopen the government into January and rescind some of the sweeping federal government layoffs. In my Sunday column , I said the government reopening would be one of four things that could go right for the stock market. 2. Nvidia shares were up more than 3% after last week’s 7% loss and dip under a $5 trillion market cap. Citi hiked its price target on the Club chipmaker to $220 from $210. Analysts are modeling quarterly sales and forward guidance above the Street’s estimates. Nvidia reports earnings next week. 3. Taiwan Semi , which manufactures Nvidia chips, saw its slowest monthly sales growth in 18 months in October. Still, the company remains on target. The new theory: There is a data center slowdown – even as there is no sign of it so far. There are also worries among investors about whether the artificial intelligence boom is sustainable. 4. The bidding war between U.S. pharma giant Pfizer and Danish rival Novo Nordisk for obesity drug developer Metsera has come to an end . Metsera accepted a sweetened $10 billion deal from Pfizer late Friday night, giving the American company an avenue into the buzzy GLP-1 market dominated by Novo and Club name Eli Lilly. 5. Leerink upgraded Eli Lilly to a buy rating from a hold. Analysts cited more adoption of obesity treatments led, in part, by significantly expanded Medicare and Medicaid coverage following the Trump administration’s GLP-1 pricing deal. Leerink also raised Lilly’s price target to $1,104 from $886. Shares were up nearly 1% this morning after last week’s more than 7% gain. 6. Is Wall Street giving up on Cobenfy already? It seems like it, as Piper Sandler cut its price target on Bristol Myers , the maker of the schizophrenia drug, to $64 from $66. We own Bristol Myers stock for the Club and are losing faith ourselves. 7. Piper also changed its outlook on biotech stock Illumina , hiking its price target to $195 from $185. The analysts cited quarterly earnings and revenue beats, along with better-than-expected current quarter and full-year guidance. 8. Canaccord lowered Zimmer Biomet’s price target to $93 from $101 following a really bad quarterly earnings report. The analysts, who maintained their hold rating on the stock, cited management tightening the company’s guidance. 9. Deutsche Bank analysts adjusted their price target on DraftKings to $33 from $37 following third-quarter earnings late last week. Stifel analysts also cut to $46 from $50. I actually really like the quarter from DraftKings, which partnered with Club name Disney ‘s ESPN last week. There will also be more sports betting with Amazon and NBC getting games. 10. JPMorgan raised its price target on Walmart and lowered its PT on Target. The analysts also cut their price targets on Lowe’s and Club name Home Depot. It’s a tough environment for consumer-related stocks. All four of those retailers report earnings next week. 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.
