Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Thursday’s key moments. 1. Stocks fell on Thursday as U.S. oil prices rose above $100 per barrel. Optimism about an Iran peace deal has dipped following reports that Iran’s supreme leader will not allow the country’s enriched uranium to be shipped out of the country. U.S. Treasury yields rose as investors worried that rising energy prices could reignite inflation. Jim Cramer said, “Everything was looking very good and then all of a sudden what happens? Oil goes up.” For Nvidia, Jim said he would view the modest pullback in the stock price after earnings as a buying opportunity, suggesting investors who don’t already own the stock will start building positions over time. 2. The biggest winner of Nvidia’s blockbuster earnings is Arm Holdings. The club’s share price rose nearly 9%, extending its weekly gain to 35%. Arm’s rise on Thursday followed comments on Nvidia’s earnings call in which management highlighted strong demand for its new Arm-based Vera CPUs. They predict that CPU-related revenue will be about $20 billion this year. This number makes Nvidia one of the world’s largest CPU providers and will benefit Arm through royalty payments. After Arm’s strong performance (now up about 60% since he first bought the stock), Jim suggested it might be time to “take a little break.” We booked some gains on Arm on Monday, reflecting our discipline in trimming parabolic moves while remaining bullish on the long-term story. 3. FedEx was reinstated by Citi with a Buy rating and $443 price target. Citi pointed to FedEx’s favorable position as it focuses on gaining market share, reducing costs and improving profitability after the June 1 cargo separation. Jim said he still expects a big upside, arguing that FedEx is taking market share from rival United Parcel Service and could benefit from higher valuations after the separation of its trucking business. “I’ll still buy it here,” Jim said. “This stock says $500.” That would be a 30% increase from the current price. We started the FedEx position on Monday. 4. The stocks featured at the end of Thursday’s video were Walmart, Ralph Lauren, Deere, and Intuit. (Jim Cramer’s charitable trusts are long NVDA, ARM, FDX; see here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will 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.
