My top 10 things to watch Monday, Nov. 3 1. Kimberly-Clark has agreed to acquire Tylenol owner Kenvue in a cash and stock deal worth around $48.7 billion. The transaction is expected to close in the second half of next year. Shares of Kenvue were up 20% this morning, while Kimberly-Clark stock sank roughly 13%. 2. Warren Buffett’s Berkshire Hathaway saw the company’s cash pile swell to a new high of $381 billion during the third quarter. Berkshire, which reported earnings over the weekend, also posted a sharp rebound in operating profits. Berkshire shares are up slightly this morning. 3. The S & P 500 and Nasdaq were headed for a higher open on the first trading day of November. They both turned in strong performances in October. The S & P 500 rose 2.3% last month, and the Nasdaq gained 4.7%. After tech earnings last week, we get four Club reports in the week ahead , including quarterly numbers from the new Honeywell spinoff Solstice Advanced Materials . We also get two data sets on private sector hiring this week from ADP. Friday’s employment report will likely be delayed to the government shutdown. 4. Wells Fargo raised JPMorgan’s price target to $350 from $345. This is the most undervalued group in the entire market. There’s a lot more Wall Street deals coming, too, which is just another reason why I think Club name Goldman Sachs stock should not have been dinged when it reported earnings results last month. 5. Microsoft secured export licenses to ship Nvidia chips to the United Arab Emirates. Separately, Loop Capital raised its Nvidia price target to $350 from $250. The analysts acknowledge that a more than 70% upside from Friday’s close in the next four to five quarters sounds outlandish, but still believe a ramp-up in chips will justify those gains. 6. Bernstein hiked Apple ‘s price target to $325 from $290, citing the strong iPhone 17 launch. In my Sunday column , I wrote that Apple could be on the verge of making a deal with the best of chatbots. The Club name would get paid even more than Google pays for search because the installed base is so great. 7. Wolfe Research initiated Qnity Electronics , which spun off from Club name DuPont over the weekend, with a buy rating. The analysts issued a price target of $110. Qnity will start trading under the ticker “Q” today on the New York Stock Exchange. 8. Seaport Research upgraded Linde stock to a buy rating from a hold following its quarterly earnings report Friday morning. Citi lowered the industrial gas maker’s price target to $520 from $535. This Club name has been trading down relentlessly and has given up all of its gains for 2025. 9. UBS lowered its price target on Club name Texas Roadhouse to $210 from $220. The analysts kept their buy rating, though, citing solid same-stores sales and foot traffic. All restaurant stocks are getting hurt. Texas Roadhouse reports earnings after Thursday’s close. How it handled the spike in beef prices over the quarter will be key. 10. Oppenheimer trimmed Costco ‘s price target to $1,050 from $1,130, in recognition of its pullback from February’s record highs. The analysts, however, maintained their buy rating and added the Club stock back to its top picks. Costco’s “outperformance case is now even stronger in a mixed consumer spending backdrop,” the firm said in a note to clients. 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.
