My top 10 things to watch Monday, Sept. 9 1. Wall Street is headed for a higher open Monday after a bruising first week of September. Be sure to read my Sunday column for Investing Club subscribers where I give my latest thinking on the “Magnificent Seven” stocks. Also don’t forget our September Monthly Meeting kicks off at noon ET Thursday. We’ll introduce the newest Club stock Home Depot , which is so right for this market. 2. Apple ‘s iPhone launch event begins at 1 p.m. ET Monday. Does anyone care about artificial intelligence anymore? Seems fair to ask considering the recent trading in stocks lumped into the AI trade, including key enabler and fellow Club name Nvidia , which is down almost 14% in the past five sessions. 3. Did we just find out why Club holding Disney ‘s stock has been stuck at $90 a share? The New York Times published a deep dive into the power struggle at Disney that ensued as CEO Bob Iger returned to the top job almost two years ago, replacing his chosen successor Bob Chapek. The details in the story matter as Disney ramps up succession planning for Iger for a second time . 4. Norfolk Southern is investigating CEO Alan Shaw over allegations of an inappropriate workplace relationship, CNBC reported Sunday. The company later confirmed the probe into Shaw, who has been behind the turnaround at the great railroad. It’s not clear whether the stock can still be bought here. Shaw has done a very strong job after the toxic train derailment in Ohio. 5. Shares of Dell Technologies and Palantir are getting a lift Monday on news that the companies will be added to the S & P 500 later this month. They’re replacing Etsy and American Airlines , respectively. I don’t think you need to sell Dell and Palantir into strength here. Citi analysts said Monday they see multiple catalysts ahead for Dell including the PC refresh cycle into next year. 6. JPMorgan upgraded Nucor and U.S. Steel to buy-equivalent ratings, arguing the risk/reward for steel stocks is improving after a period of weakening fundamentals. Analysts like the product diversification of Nucor, while saying that U.S. Steel’s steep pullback on uncertainty over its takeover by Japan’s Nippon Steel has created an attractive entry point. 7. Wells Fargo upped its price target on KB Home to $80 a share from $70, right around where the stock closed Friday. Analysts maintained their neutral rating on shares, which have climbed 27% so far this year. The summer was an especially strong period for the stock as interest rate cuts, which should spur more activity in the housing sector, moved closer into view. Home Depot and Stanley Black & Decker are two rate-cut plays we own for the Club. 8. Salesforce’s $1.9 billion acquisition of data security startup Own does not wow analysts at Citi. While they said the all-cash deal looks responsible given Salesforce’s efforts to reduce dilution to existing shareholders, they also suggested it could indicate its data analytics application is still “a work in progress.” Citi’s neutral view on the deal echoes the market’s view on enterprise software overall. Not a much-loved group right now. 9. Morgan Stanley is worried in the short term about CrowdStrike ‘s stock ahead of the cybersecurity firm’s investor day set for Sept. 18. Analysts said Wall Street estimates are still too high, even after CrowdStrike lowered full-year guidance late last month to reflect the impact of the global IT outage in July. Still, the firm maintained its buy-equivalent rating on the stock. 10. Boeing shares rose after the plane maker and a union representing around 33,000 of its workers reached a tentative labor agreement. The deal “seems like a good outcome” to help avoid a costly strike, JPMorgan analysts said. 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.
My top 10 things to watch Monday, Sept. 9
1. Wall Street is headed for a higher open Monday after a bruising first week of September. Be sure to read my Sunday column for Investing Club subscribers where I give my latest thinking on the “Magnificent Seven” stocks. Also don’t forget our September Monthly Meeting kicks off at noon ET Thursday. We’ll introduce the newest Club stock Home Depot, which is so right for this market.
2. Apple‘s iPhone launch event begins at 1 p.m. ET Monday. Does anyone care about artificial intelligence anymore? Seems fair to ask considering the recent trading in stocks lumped into the AI trade, including key enabler and fellow Club name Nvidia, which is down almost 14% in the past five sessions.
3. Did we just find out why Club holding Disney‘s stock has been stuck at $90 a share? The New York Times published a deep dive into the power struggle at Disney that ensued as CEO Bob Iger returned to the top job almost two years ago, replacing his chosen successor Bob Chapek. The details in the story matter as Disney ramps up succession planning for Iger for a second time.
