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Home » Goldman nabs its largest-ever fee on M&A deal — plus, another good sign for Dover
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Goldman nabs its largest-ever fee on M&A deal — plus, another good sign for Dover

adminBy adminNovember 11, 2025No Comments5 Mins Read
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Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The stock market was mixed on Tuesday. The Nasdaq came under pressure due to weakness in megacap tech names following CoreWeave’s quarterly earnings report Monday evening. The AI infrastructure provider’s guidance disappointed Wall Street, sending the stock down more than 15% Tuesday afternoon. Club holding and chipmaker Nvidia shares fell nearly 3%. Meanwhile, the S & P 500 and Dow both advanced as investors rotated out of tech and into sectors like health care, energy, and consumer staples. Club name Eli Lilly stock reached a record high on Tuesday, advancing nearly 3%. Boeing: The company said Tuesday that it delivered 53 jets in October, increasing its total for 2025 to 493. Thirty-nine of those deliveries were of its 737 MAX jets. The U.S. aircraft maker also received a net total of eight orders for the month. Now that the Federal Aviation Administration has approved Boeing to increase 737 production to 42 jets per month from 38, we expect to see a gradual increase in 737 deliveries in the coming months. In other news, The Air Current reported on Monday that Boeing received approval from the FAA last week to move onto the third of five phases of certification flight tests for its 777-9. This is the wide-body jet program for which Boeing recorded a non-cash charge of $4.9 billion in the third quarter, due to the longer-than-anticipated certification process that pushed back the timeline for the first delivery to 2027. The charge wasn’t entirely unexpected, but it came in worse than anticipated. The delayed timeline also led analysts to trim their free cash flow forecasts. Free cash flow is the most important metric in valuing Boeing. We’re not calling the news a catalyst. Boeing needs to show that it is making progress on the program. Another setback would be a blow to CEO Kelly Ortberg’s turnaround plan. Dealmaking: Club holding Goldman Sachs is set to book its largest fee for a mergers and acquisitions deal ever as the sole advisor on the $55 billion take-private transaction of Electronic Arts , maker of Madden NFL and other popular video games. According to a securities filing Monday, Goldman will get paid a total of $110 million: $10 million was paid when the deal was announced in late September, with the balance due when the deal closes, pending approvals from both shareholders and regulators. This fee haul is great news for Goldman’s crucial investment banking division, which is a big reason why the Club first initiated a position in the stock. M & A isn’t the only fuel for Goldman’s IB business. Initial public offerings also play a major part. Both M & A activity and IPOs have been rebounding after years of dormancy. Dover : Shares are up 2.5% Tuesday, trading at their highest level since July. Dover’s advance comes a session after management announced an accelerated share repurchase (ASR) program worth $500 million on Monday. The company said in a filing that it will receive approximately 2,334,010 shares by Nov. 12, which, based on Monday’s closing price of $182.09, represents most of the $500 million program. We’ve long called on management to dip into its large cash position and take advantage of the stock’s lagging performance in 2025. We’re pleased to see this finally happen. The ASR came on the heels of a better-than-expected third-quarter earnings report and upbeat commentary for next year, which was released back in October. “I’m not aware of any business within the portfolio that’s forecasting down revenue for next year,” CEO Richard Tobin said during the earnings call in late October. The timing of Dover’s ASR is another data point that suggests confidence in 2026. This marks the second ASR announcement by a Club holding in the past week. DuPont also announced a $500 million ASR as part of a $2 billion share repurchase program during its third-quarter earnings report last Thursday. Shares of this multi-industrial company hit a new spin-adjusted high on Tuesday and have rallied nearly 20% since it split from Qnity Electronics . Up next: It’s a quiet night for earnings, with Oklo’s report being the only one of real interest. Before the opening bell on Wednesday, we’ll see earnings from Nike running shoe rival On Holding , GlobalFoundries, and Circle Internet Group. (See here for a full list of the stocks in 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.



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