What I am looking at July 20, 2022 Netflix (NFLX) lost fewer subscribers than expected during the second quarter. Will Netflix really rein in their content budge? I expected more from the company. Emphasis remains on big-budget films like “Gray Man” and series like “Stranger Things” season four. Management also said it planned to unveil it’s ad-supported tier in early 2023 … weird circular reasoning for choosing Microsoft (MSFT) as partner for that offering. Netflix shares rose 6% in the premarket. Many superfluous price target cuts on the Street. Stifel upgrades NFLX to buy from hold. Was investor reaction to IBM’s quarterly results too negative? With shares trading at 14 times earnings, a 5% dividend yield and growth in the mid-to-high single digits — despite spinning off infrastructure business Kyndryl (KD) — it would seem yes. KD, by the way, is down 42%. Club stock Johnson & Johnson (JNJ) had a very strong quarter. And if you think the dollar has bottomed, it is a buy . Citi trims its price target on JNJ shares to $201 from $205, but continues to like the company with a buy rating. HBSC says to buy Club holding Chevron (CVX), noting it has been one of the worst performers in the oil group in the past month, bringing its valuation back to attractive levels. Analyst also raises price target for Exxon Mobil (XOM). Halliburton (HAL) CEO Jeff Miller joined me on “Mad Money” last night and provided great insight on the company’s quarterly results. The company has capacity to raise sales and margins. The biggest opportunity might come from Middle East. Eight years of no drilling has left a big depletion problem. Majority of oil companies still drilling like mad, even if there is some reluctance to do so from the independents. Halliburton is a Club holding that should be bought here. Susquehanna raised its earnings estimates — highly encouraging. Unusual call: Arista Networks (ANET) goes to sell from a buy at Bank of America. Analyst also double downgrades Juniper Networks (JNPR) to sell from buy. Cummins (CMI) — Bernstein sees EPS slowing materially, 40% downside risk to the consensus … downgrades to market perform from outperform. Semiconductor manufacturing equipment maker ASML sees a slowdown in phones and PCs. Hard to buy Apple (AAPL) ahead of quarterly results. Is the bar as low as Netflix? Could it simply be the low end of the decline mentioned the last time Apple reported? Barclays lowers all pipeline stocks in a bizarre call given that they are doing so well. J.B. Hunt headlines numbers not adequately representative of good quarter … Mortgage applications fell more than 6% last week compared to the previous week, a 22-year low. The average contract interest rate for a 30-year fixed-rate increased to 5.82% from 5.74%. But is that really available? The rate was from 3.1% a year ago. Demand for refinances was done 80% from last year. Block (SQ) targets lowered at JPMorgan and Baird. JPMorgan likes Coca-Cola (KO) but lowers PT to $70 from $73. Bernstein upgrades Alibaba (BABA) to buy … looking for rebound … the summoning of execs by Chinese government over data theft to limited impact. Capitulation: Bank of America says we have it, Bernstein says no. I think we have retail capitulation. (Jim Cramer’s Charitable Trust is long AAPL, CVX, HAL, JNJ, MSFT. 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.
A still image from “Stranger Things 3.”
Source: Netflix
What I am looking at July 20, 2022
- Netflix (NFLX) lost fewer subscribers than expected during the second quarter. Will Netflix really rein in their content budge? I expected more from the company. Emphasis remains on big-budget films like “Gray Man” and series like “Stranger Things” season four. Management also said it planned to unveil it’s ad-supported tier in early 2023 … weird circular reasoning for choosing Microsoft (MSFT) as partner for that offering. Netflix shares rose 6% in the premarket. Many superfluous price target cuts on the Street. Stifel upgrades NFLX to buy from hold.
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