Top 10 to watch for Monday, February 9th 1. S&P 500 heads for relatively quiet gains on Monday after Friday’s big rally. Bitcoin rebounded above $70,000 before falling slightly. 2. Melius Research downgraded the Microsoft holdings club from buy to hold in key areas. Analysts say CEO Satya Nadella has “lost the AI story” and said the stock is too expensive based on the company’s new free cash flow estimates. 3. Shares of the club’s name, Eli Lilly, and rival Novo Nordisk soared in premarket trading after Hims and Hers announced Saturday that the company would no longer sell counterfeit weight loss drugs following FDA scrutiny and a lawsuit from Novo. Eli Lilly also announced that it would acquire biotechnology company Orna Therapeutics for up to $2.4 billion. 4. Kroger shares rose nearly 7% in premarket after the Wall Street Journal reported that the grocery giant was preparing to announce former Walmart executive Greg Foran as its new CEO. Mr Foran most recently served as CEO of Air New Zealand. Prior to that, he served as CEO of Walmart’s U.S. division for six years. 5. Attorney Davidson upgraded Oracle from Hold to Buy with a price target of $180. Analysts said the market reflects the risks in the relationship with OpenAI, adding that OpenAI is capable of meeting its obligations to Oracle based on recent financing negotiations. 6. Cleveland-Cliffs stock fell nearly 4% this morning after the company missed fourth-quarter revenue and adjusted EBITDA estimates. 7. Monday.com stock fell more than 10% this morning after first-quarter and full-year earnings estimates fell short of The Street’s expectations. It will be interesting to see if this lowers the status of the group as a whole or if some separation occurs. 8. JPMorgan raised price targets for many banks. Bank of America was raised from $61 to $61.50. Citi’s fee increased from $130 to $134 per case. Wells Fargo’s PT went from $99 to $99.5. Analysts praised the group as benefiting from sector rotation, solid economic trends and stable fundamentals. Within that group, we own Wells Fargo. Other bank names are Goldman Sachs and Capital One. 9. The Wall Street Journal had a big weekend feature on Corning and its rise to “AI Superstar.” Shares rose nearly 2% premarket. 10. Robinhood has been upgraded from Hold to Buy by Wolf Research following recent declines. Stock prices have taken a hit as the virtual currency market has fallen sharply. Sign up for free for my Top 10 Morning Thoughts on the Markets email newsletter (See here for a complete list of Jim Cramer Charitable Trust stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you’ll receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
