What I am looking at June 23, 2022 The yield on the 10-year Treasury note back down to 3.1%. It was bad when yield was going up, now bad when it is coming down? Reels v. TikTok: Don’t be surprised if Reels surprises . Mark Zuckerberg, founder and CEO of Meta (META), is not as worried about recessions as most. The company is building its own operating system that will obviate Apple (AAPL) OS. Digital purchases will reach hundreds of dollars per person. Did the decline in Meta shares earlier this week — with no clear driver or explanation — have something to do with the reshuffling of Russell U.S. equity indexes that moved Meta out of its growth index (where the money is) and into its value index? What would make President Joe Biden see eye to eye with the oil execs? Thank you Rusty Braziel of RBN Energy for coming up with a long list, which includes: 1) lift development restrictions on federal lands and waters; 2) designate critical energy infrastructure projects; 3) fix the NEPA permitting process; 4) accelerate LNG exports and approve pending LNG applications; 5) unlock investment and access to capital. JPMorgan upgrades cloud computing company Snowflake (SNOW) to buy from hold, saying stock is at an inflection point. This is a gutsy call because the stock is so expensive. Still, shares are trading only slightly above the $120 IPO offering price from 2020. Numbers are great, excellent standing. Unchanged price target of $165. Darden Restaurants (DRI): The parent of Olive Garden reported better-than-expected profit and revenue for its most recent quarter. It also raises its quarterly dividend to $1.21 from $1.10 and a new $1 billion buyback program. Funko (FNKO) upgraded to buy at JPMorgan. Price target of $28 equals a 13 price-to-earnings ratio. Bank of America cuts Netflix (NFLX) PT, says higher subscriber churn becoming an issue. Disney (DIS) hanging in despite softening macros. Bank of America lowered its price target to $122 from $140, but maintains its buy rating. Looking for reset. Palantir (PLTR) initiated with a neutral at Goldman Sachs with a price target of $10. Commodity collapse: falling prices on corn, soy, copper, lumber. Morgan Stanley says much more to come — zinc, aluminum, nickel, iron, copper, coal. Agco (AGCO) downgraded to hold from a buy at Morgan Stanley — what happened to the agriculture bull story? These guys are terrific. What gives? Soy down, corn down. Nike (NKE) price target lowered to $130 from $165 at Credit Suisse. Global trends are worse than expected. Cummins (CMI) resumed with an equal weight rating at Morgan Stanley, following the shareholder vote on the contemplated Meritor (MTOR) acquisition. Southwest (LUV) upgraded to a strong buy from outperform at Raymond James. But Alaska Air Group (ALK) goes the other way — downgraded to outperform from strong buy. (Jim Cramer’s Charitable Trust is long AAPL, DIS, META. See here for a full list of the stocks.) 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.
Mark Zuckerberg, CEO of Meta Platforms, appears on CNBC’s “Mad Money” with Jim Cramer on June 22, 2022.
CNBC
What I am looking at June 23, 2022
- The yield on the 10-year Treasury note back down to 3.1%. It was bad when yield was going up, now bad when it is coming down?
- Reels v. TikTok: Don’t be surprised if Reels surprises. Mark Zuckerberg, founder and CEO of Meta (META), is not as worried about recessions as most. The company is building its own operating system that will obviate Apple (AAPL) OS. Digital purchases will reach hundreds of dollars per person.
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