Every weekday at 10:20 a.m. ET, the CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream. Let’s take a look at the key moments from Thursday’s session:
1. Book profits on big winners: On Thursday, Wall Street saw a significant climb, with the Dow Jones Industrial Average gaining over 350 points or roughly 1%. The S&P 500 and Nasdaq also experienced nearly 1% increases, reaching intraday highs not seen in over a year. Despite the Federal Reserve’s decision to leave interest rates unchanged at its June policy meeting, investors are advised to take profits from their big winners. Jim Cramer emphasized the importance of not being greedy during the Monthly Meeting on Wednesday.
2. Emerson catches an upgrade: HSBC analysts praised Emerson Electric (EMR) as a “completely transformed automation pure-play” in a note to clients on Thursday. As a result, they upgraded the Club holding from hold to buy and raised the price target by $21 per share to $100. Although this upgrade wasn’t based on new information, investors responded positively, with Emerson shares increasing by over 2% in early trading. Emerson, along with other industrial holdings like Caterpillar (CAT), has already shown signs of a resurgence.
3. Humana shares stabilize: After experiencing an 11% sell-off on Wednesday due to UnitedHealth’s warning about higher medical costs, Humana (HUM) shares stabilized on Thursday, rising by 1.5% to around $460 per share. Taking advantage of the previous day’s weakness, investors purchased additional Humana shares. There is hope for an update from Humana soon, perhaps reiterating their full-year guidance. Credit Suisse analysts mentioned that Humana is expected to meet with investors in New York City next week, potentially providing an update before then. This decision is seen as appropriate.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. It is important to note that Jim waits a certain period of time before executing a trade. Specifically, he waits 45 minutes after sending a trade alert or 72 hours after discussing a stock on CNBC TV. This ensures transparency and careful decision-making.
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