What I am looking at Aug. 1, 2022 Looking for signs of peaking. M2 has peaked and could be ready for a big fall. (M2 is a broad measure of the U.S. money supply). Are consumer balance sheets stretched? Still have a huge amount of cash in their accounts. (Good for banks with high fed funds rate yet stocks have not re-rated.) People scared to own banks going into a recession. Post SPAC deals performing horrible versus S & P 500 . Please stay away. (Special purpose acquisition companies are a way companies can become publicly traded.) Wolfe research starts cybersecurity firm Palo Alto Networks (PANW) with a buy (outperform) rating. $700 per share price target, which would be 40% higher than near $500 close Friday. I totally agree and will explore Monday on “Mad Money” tonight with agricultural company AGCO (AGCO), which was hit by a cyberattack. Barclays downgrades: Comcast (CMCSA) to hold from buy (equal weight from overweight); Charter Communications (CHTR) to sell from hold (underweight from equal weight). Charter price target also lowered at Morgan Stanley, Deutsche Bank, Pivotal Research. Chemical companies Celanese (CE) and Eastman Chemical (EMN) both lowered by Citi to hold (neutral) from buy. Is this the beginning of a serious price decline in key chemicals that would be bullish for deflation? Wolfe Research downgrades Plains All American (PAA) to hold from buy (peer perform from outperform). A pipeline rollover? I don’t see it happening. Stanley Black & Decker (SWK) downgraded to equal weight from overweight (hold from buy) at Wells Fargo. Consumer weak, pro next? Raymond James downgrades flooring company Mohawk Industries (MHK) to hold from buy (market perform from outperform) Another slowing in the home improvement industry. Pivotal takes Sirius XM (SIRI) to hold from buy, cites consumer worries in a recession. Online dating platform Bumble (BMBL): Jefferies sees acceleration in revenue but downgrades it anyway. Global lapping of pricing, which drove a “massive uptick;” gives rival Match Group (MTCH) more love. Jefferies says worsening foreign exchange headwinds makes BMBL valuation less compelling. Deutsche Bank Church & Dwight (CHD) lowers price target to $93 per share from $99; results and guidance disappointing. CHD makes consumer products including condoms. Deutsche Bank takes Chili’s and Maggiano’s owner Brinker International (EAT) price target to $33 per share from $41, keeps rating as a hold. Deutsche Bank lowers PT on Outback and Carrabba’s Italian Grill owner Bloomin’ Brands (BLMN) to $28 per share from $30. Citi cuts price target on Southwest Airlines (LUV) to $42 per share from $46, sees carrier as reasonably valued. Truist Securities on Redfin (RDFN) says could miss on housing numbers. Sharper than expected slowdown led them to cut numbers. RDFN reports quarter on Thursday. Boeing (BA) 787 Dreamliners cleared to resume deliveries by FAA; also no strike at three Boeing plants. China weakness in manufacturing and housing calling out lower commodities; PMI miss. Barclays raises price target on Pfizer (PFE) to $52 per share from $50. Barclays raises price target on life sciences company Thermo Fisher (TMO) to $685 per share from $630. Room to run. Like it. But prefer Club holding Danaher (DHR), which had one of the biggest beats of the quarter. Big call: Target (TGT) upgrade to buy from hold (overweight from equal weight at Wells Fargo. Barclays cuts price target on VF Corp. (VFC), owns North Face, Timberland other clothing brands, to $46 per share from $48. Hate apparel; Deutsche Bank price target on VFC down to $56 from $59. Cowen downgrades American Eagle Outfitters (AEO) to hold from buy (market Perform from outperform), sees markdowns coming. Apparel prices low. Deutsche Bank trims price target for Ralph Lauren (RL) to $99 per share from $101. Why bother? Deutsche Bank price target cuts: Uber (UBER) to $40 per share from $50. Lyft (LYFT) to $16 from $28. (Jim Cramer’s Charitable Trust is long DHR. 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.
Shoppers walking around Pitt Street Mall on June 07, 2022 in Sydney, Australia. Australian consumer price inflation sped to a 21-year high last quarter and is likely to accelerate even further as food and energy costs explode, stoking speculation interest rates will need to more than double to bring the outbreak under control.
Brendon Thorne | Getty Images News | Getty Images
What I am looking at Aug. 1, 2022
Looking for signs of peaking. M2 has peaked and could be ready for a big fall. (M2 is a broad measure of the U.S. money supply). Are consumer balance sheets stretched? Still have a huge amount of cash in their accounts. (Good for banks with high fed funds rate yet stocks have not re-rated.) People scared to own banks going into a recession.
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