My top 10 things to watch Tuesday, Nov. 25 1. Stocks were flat early this morning after yesterday’s winning session, which was led by gains in major tech names. Wall Street also received signs of a weakening labor market as new ADP data showed that the pace of layoffs has picked up over the past month. Another data point in favor of a Fed interest rate cut next month? 2. Club name Meta Platforms is considering using Google’s tensor processing units for its data centers in 2027, according to The Information. Will Meta actually make the switch to reduce its reliance on Nvidia ? Or will it use the ones that Broadcom is the general contractor for? I think it’s more likely the latter since Hock Tan, CEO of Club holding Broadcom, is on Meta’s board. Club stock Nvidia dropped about 4.5% on the report. 3. Alibaba reported better-than-expected revenue for its fiscal second quarter as sales growth in the company’s crucial cloud computing division continued to accelerate. The stock rose 3%. The Chinese tech giant saw a 34% year-over-year increase in revenue for cloud computing, much faster than the 26% growth rate seen last quarter. Should we give up and just own this stock already? 4. Citi upgraded Brinker shares to a buy from a hold rating, and raised its price target to $176 from $144. The analysts argued that the cost environment for the Chili’s parent is improving with Brazil’s food tariffs dropping. Plus, the restaurant conglomerate’s efforts to bring in younger customers seem to be working. I think that Club name Texas Roadhouse is a much better buy, though. We looked at commodity prices in a recent commentary. 5. Rothschild Redburn cut Estee Lauder ‘s rating to a sell from hold, and lowered its price target to $70 from $83. Analysts said that despite improving sales, the cosmetics giant needs much bigger investments for its turnaround story. This is a pretty drastic call. 6. The Financial Times continued its series of reports on the affordability crisis in America, using Bethlehem, Pennsylvania – a former steel town – to highlight the yawning gap between rich and poor. I think it revolves around low-paying jobs and higher inflation. 7. Shares of Dick’s Sporting Goods dropped roughly 7% this morning despite better-than-expected quarterly sales, earnings, and forward guidance. Dick’s did say it plans to close some Foot Locker stores as part of a broader restructuring. Dick’s executive chairman Ed Stack told CNBC, “We need to clean out the garage.” 8. Best Buy beat expectations on the top and bottom line for the quarter. Same-store sales growth of 2.7% blew away estimates of a 1.5% increase. The electronics chain also raised guidance heading into the important holiday shopping season. The stock, which has had a tough year, declined modestly this morning. 9. Shares of Abercrombie & Fitch surged nearly 20% after the retailer beat on quarterly earnings and revenue. Abercrombie, which houses its namesake brand and Hollister, raised its full-year earnings. Kohl’s shares skyrocketed more than 25% after the department store reported a quarterly profit when estimates called for a loss. Revenue also beat. Kohl’s also hiked its full-year outlook. 10. Bank of America raised its price target on Agilent Technologies to $165 from $150. The analysts, who kept their hold rating, said the life sciences and diagnostics company delivered a solid quarter. Agilent delivered a mixed full-year outlook, and the stock dropped about 1.5%. In life sciences, we own Danaher. 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.
