Cramer’s top 10 stocks on Wednesday: Salesforce, Morgan Stanley, Emerson

My Top 10 Things to Watch Wednesday, January 4, 2023 1. Wall Street looks set to bounce back after a bearish start to the first trading week of the new year. The club, which owns Apple (AAPL), Tesla (TSLA) and other mega-cap tech stocks, sank on Tuesday. Although many of them were trying to revive in the premarket. 2. Salesforce (CRM) announces the beginning of what we are looking for from the Club holding. The company is laying off 10% of its workforce and restructuring and closing some of its offices. Co-founder and soon-to-be-solo CEO Marc Benioff admitted to being overworked during the Covid pandemic. A very serious letter to employees. 3. UBS sees slowing growth in Microsoft’s ( MSFT ) cloud computing offering, Azure. Analysts downgraded the tech giant from buy to neutral and lowered their price target to $250 from $300. Is there more to this Club’s name already dropped? What number does it go to? We’ll be running it in our new audio feature, “The Homestretch,” to get you ready for the final hour of trading. 4. Wolfe Research doubles Morgan Stanley’s (MS) rating (outperform from buy). Analysts say that the name of the Club looks rich. We think the new MS is a gem that works well in deceleration because CEO James Gorman built it that way. 5. Emerson Electric (EMR) holdings downgraded from buy to neutral due to a less opportunistic option at UBS. The research firm sees a slowdown in ordering. We don’t see it, and we’re likely to get some. We expected downgrades on continuing industries at the end of 2022. Analysts also lowered their price target to $100 per share from $118. 6. UBS buys Honeywell (HON) club name to sell from buy to squeeze order. We do not agree. Honeywell won big thanks to aerospace orders and firepower. How can they market it? There may be an opportunity to buy new members. Analysts lowered their price target to $193 from $220 per share. 7. Nucor (NUE) started with a purchase at Bank of America. We were thinking about returning to this island after winning big. BofA said it could be reversed. We see this as a function of the government’s infrastructure efforts. The estimates are much lower than what NUE can do. BofA put US Steel ( X ) on sell list; Cleveland-Cliffs (CLF) in neutral. 8. GE HealthCare Technologies (GEHC) starts on Wednesday. A spinoff from General Electric ( GE ), Danaher ( DHR ) holding company is growing slowly, not like Club, but like Medtronic ( MDT ). GE wants to focus on its aviation business. He plans to spend energy next year. 9. BofA raises Merck (MRK) rating to neutral and price target to buy from $110 to $130 per share. Now? After his historic run? Neat, messy, messy. Analysts downgraded Pfizer (PFE) from buy to neutral. In pharmaceuticals and healthcare, we like and own Eli Lilly ( LLY ) and Johnson & Johnson ( JNJ ). 10. Wells Fargo Cuts Target (TGT) from Overweight to Equal Weight (Buy to Hold), Says Slowdown Meaningful. Analysts lowered their price target from $170 to $142 per share. Could this be the company most affected by the slowdown? It is not clear. We own and like discount retailer TJX Companies ( TJX ). (Jim Cramer’s Charitable Trust is long AAPL, CRM, MSFT, MS, EMR, HON, DHR, LLY, JNJ, and TJX. See here for a complete list of stocks.) As a subscriber to the CNBC Investment Club with Jim Cramer, before Jim trades You will receive trade alerts before. 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 INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY. NO FIDUCIARY OWNERSHIP OR DUTIES ARE OR CREATE BY YOUR ACCEPTANCE OF INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO RESULTS OR PROFITS ARE GUARANTEED.

My Top 10 Things to Watch Wednesday, January 4, 2023

1. Wall Street looks set to bounce back after a bearish start to the first trading week of the new year. Club holding apple (AAPL), Tesla ( TSLA ) and other mega-cap tech stocks sank on Tuesday. Although many of them were trying to revive in the premarket.

2. Salesforce (CRM) announces the beginning of what we are looking for from a club holding. The company is laying off 10% of its workforce and restructuring and closing some of its offices. Co-founder and soon-to-be-solo CEO Marc Benioff admitted to being overworked during the Covid pandemic. A very serious letter to employees.

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