Lisa Su, chairwoman and CEO of Superior Micro Units (AMD), delivers the opening keynote speech at Computex 2024, Taiwan’s premier tech expo, in Taipei on June 3, 2024.
I-Hwa Cheng | Afp | Getty Photos
My prime 10 issues to observe Tuesday, Might 20
1. Shares of Membership title Home Depot are increased after earnings this morning. Month-to-month gross sales cadence was nice, with March and April enhancing after a weak February. It additionally reaffirmed its full-year steerage and mentioned it will not elevate costs attributable to tariffs. Shares of the house enchancment retailer gained 2.4%.
2. Advanced Micro Devices offered off the server manufacturing enterprise of just lately acquired ZT Programs to Sanmina for $3 billion. I had hoped for a $5 billion sale, so I am not that excited. AMD’s reason for buying ZT was its engineers to raised compete with Membership title Nvidia in designing full server racks.
3. Loop Capital downgraded enterprise darling MongoDB on slowing adoption of its flagship Atlas platform. The analysts mentioned that the decelerating development may proceed and slashed value goal to $190 from $350. The inventory slipped 2%.
4. Boeing value goal raised to $249 from $218 at Bernstein, citing new widebody orders and a restart of deliveries to China. This one may very well be a juggernaut now.
5. RBN Vitality says there’s a tremendous buzz about natural-gas-fired generators, with backlogs stretching 5 years out.
6. UnitedHealth value goal lowered to $390 from $501 at Wolfe Analysis, which lower estimates after the insurer pulled its steerage. However I harp on the enormous insider buys, together with by new CEO Stephen Hemsley, who purchased $25 million value of shares on Friday.
7. The Hong Kong buying and selling debut of the Contemporary Amperex Technology (CATL), the world’s largest battery maker, was very profitable. Shares rose greater than 16% Tuesday.
8. Unusual name: Chubb downgraded to carry from purchase at Deutsche Financial institution, which says the inventory has simply been too sturdy.
9. Morgan Stanley downgraded well-liked enterprise software program firm Asana to promote from maintain, as Monday.com takes market share.
10. BTIG mentioned Booking Holdings’ enterprise is choosing up within the second quarter, referred to as out “secure developments” on its Q1 earnings name.
Join my High 10 Morning Ideas on the Market email newsletter for free
(See here for a full listing of the shares at Jim Cramer’s Charitable Belief.)
As a subscriber to the CNBC Investing Membership with Jim Cramer, you’ll obtain a commerce alert earlier than Jim makes a commerce. Jim waits 45 minutes after sending a commerce alert earlier than shopping for or promoting a inventory in his charitable belief’s portfolio. If Jim has talked a few inventory on CNBC TV, he waits 72 hours after issuing the commerce alert earlier than executing the commerce.
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.