Every weekday, Jim Cramer’s CNBC Investing Club holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of the key moments from Tuesday’s session.
1. Health Care in Focus: The club’s holdings, Danaher (DHR) and GE Healthcare (GEHC), reported better-than-expected earnings before the bell on Tuesday. However, Danaher lowered its guidance, leading to a slight decline in its stock. Jim Cramer acknowledged the challenges of owning Danaher lately but encouraged investors to stick with it. On the other hand, GE Healthcare shares fell over 2% in response to the earnings report. Cramer expressed his faith in the long-term story at GEHC and advised investors to hold onto their shares.
2. “Ultimate Trade-Down Play”: Investors are recognizing the potential of Costco Wholesale (COST) in benefiting from inflation-wary shoppers seeking value. Costco’s stock has been on a continuous climb for 11 sessions, rising over 7% since July 10. Cramer described Costco as the “ultimate trade-down play” and emphasized the club’s belief in its long-term investment potential. Additional catalysts, such as a membership-fee hike and a special dividend, could further contribute to its growth.
3. Watch the Bullpen: RTX Corp. (formerly Raytheon Technologies) presents an attractive investment opportunity despite its stock declining 14% on Tuesday morning. The aerospace and defense firm issued a warning regarding some of its engines, which could result in expenses. However, Cramer expressed his eagerness to invest in RTX, as it has been in the club’s Bullpen since December.
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