10 things to watch Monday, April 15 The market is trying to rebound from Friday’s selloff. Oil is pulling back on hopes that the conflict in the Middle East doesn’t escalate further after Iran’s attacks on Israel. Despite an uptick in consumer inflation last month, retail sales jumped 0.7% in March, much higher than expected. The February read was revised higher. Goldman Sachs reports a blowout in the first quarter. Revenue up 16% to $14.21 billion, beating estimates by over $1 billion. Earnings per share (EPS) of $11.58 beats estimates of $8.56. fixed income currency and commodities as well as investment banking revenues. Return on tangible common equity of 15.9%. Citi adds Club name Nvidia to a 90-day catalyst watch on the expectation that supply chain commentary from key foundry and high bandwidth memory suppliers during earnings season and an update from CEO Jensen Huang at the Computex Taiwan conference in June will be positive. Lockheed Martin upgraded to a buy-equivalent overweight rating at JPMorgan. The analysts are constructive about defense stocks into first quarter earnings due to year to date underperformance and weak sentiment. Cisco Systems upgraded to a buy at Bank of America. The analysts say Splunk, security and artificial intelligence can offset networking weakness. Club name Constellation Brands gets upgraded to buy at Argus with a $306-per-share price target. The analysts think the Mexican beer powerhouse deserves a higher price-to-earnings multiple due to the company’s outlook and potential for a dividend hike. We agree. Wedbush upgrades PVH , the company behind the Tommy Hilfiger and Calvin Klein brands, to a buy-equivalent outperform rating, calling the 25% selloff after earnings an opportunity. Guggenheim downgrades ServiceNow on concerns about valuation after a 110% run since October 2022. Separately, Evercore ISI adds IBM to its tactical outperform list ahead of first-quarter earnings. UBS starts coverage on SharkNinja with a buy rating and a $76-per-share price target. The analysts see market share gains on current products and expansion into new ones. Mizuho starts coverage on GE Vernova with a buy rating and a $154-per-share price target. The analysts call the company a “diversified powerhouse of the energy transition.” Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) 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.
10 things to watch Monday, April 15
- The market is trying to rebound from Friday’s selloff. Oil is pulling back on hopes that the conflict in the Middle East doesn’t escalate further after Iran’s attacks on Israel. Despite an uptick in consumer inflation last month, retail sales jumped 0.7% in March, much higher than expected. The February read was revised higher.
- Goldman Sachs reports a blowout in the first quarter. Revenue up 16% to $14.21 billion, beating estimates by over $1 billion. Earnings per share (EPS) of $11.58 beats estimates of $8.56. fixed income currency and commodities as well as investment banking revenues. Return on tangible common equity of 15.9%.
- Citi adds Club name Nvidia to a 90-day catalyst watch on the expectation that supply chain commentary from key foundry and high bandwidth memory suppliers during earnings season and an update from CEO Jensen Huang at the Computex Taiwan conference in June will be positive.
- Lockheed Martin upgraded to a buy-equivalent overweight rating at JPMorgan. The analysts are constructive about defense stocks into first quarter earnings due to year to date underperformance and weak sentiment.
- Cisco Systems upgraded to a buy at Bank of America. The analysts say Splunk, security and artificial intelligence can offset networking weakness.
- Club name Constellation Brands gets upgraded to buy at Argus with a $306-per-share price target. The analysts think the Mexican beer powerhouse deserves a higher price-to-earnings multiple due to the company’s outlook and potential for a dividend hike. We agree.
- Wedbush upgrades PVH, the company behind the Tommy Hilfiger and Calvin Klein brands, to a buy-equivalent outperform rating, calling the 25% selloff after earnings an opportunity.
- Guggenheim downgrades ServiceNow on concerns about valuation after a 110% run since October 2022. Separately, Evercore ISI adds IBM to its tactical outperform list ahead of first-quarter earnings.
- UBS starts coverage on SharkNinja with a buy rating and a $76-per-share price target. The analysts see market share gains on current products and expansion into new ones.
- Mizuho starts coverage on GE Vernova with a buy rating and a $154-per-share price target. The analysts call the company a “diversified powerhouse of the energy transition.”
Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free
(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)
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.