Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Quiet market: Stocks were mostly higher Tuesday, trying to recover Monday’s slight losses. It’s been a rather calm couple of sessions following last week’s 2.3% surge in the S & P 500. All three major averages are still on pace to notch their fifth straight winning streak. Mark your calendars: Apple said it will host its annual Worldwide Developers Conference from June 10 to June 14. While historically this event has not had a significant impact on the company’s stock, there is hope that this year will be different. Many are anticipating that Apple will introduce new generative AI tools for the iPhone, which could potentially trigger a massive upgrade cycle to new, higher-priced smartphones. In addition, the introduction of new software features could also provide a boost to the company’s services revenue. “Apple’s developer’s conference could be an opportunity for the company to show off its AI but also for it to embrace Nvidia CEO Jensen Huang’s vision for the Vision Pro, an enterprise product that can help sell cars and homes,” Jim Cramer added. Behind Danaher’s decline: In the Morning Meeting on Tuesday, we mentioned that the cause of Monday’s decline in bioprocessing stocks like Danaher was Ingersoll Rand ‘s $2.3 billion acquisition of ILC Dover from a private equity firm. Some viewed the deal as a sign that IR might have ambitions of expanding into the bioprocessing industry which is dominated by Danaher, Thermo Fisher , and others. However, analysts at KeyBanc disagreed with this take, writing that they do not see this deal as a threat because Dover serves a niche position of life science applications that doesn’t compete with the likes of Danaher. Quick hits: Wedbush increased its Microsoft price target to $500 from $475 Wednesday on stronger checks of Copilot adoption. “I keep thinking about those silly reviews about how users don’t like Microsoft’s Copilot when the company is telling you nothing but positives,” Jim said. Costco’s stock is still trying to recover from its 7% post-earnings pullback earlier this month. This decline has been about high expectations after a big run and not about business performance. Jim added: “I think Costco , which has been a one-way street down since the beginning of March, is now starting to bottom down $50 from its high.” “BlackRock CEO Larry Fink says we must invest and points out that we have to be pragmatic about our energy use, which is Coterra in oil and gas and Eaton in energy efficiency,” Jim said. “He also points out the GLP-1 drugs without mentioning Eli Lilly by name, but that’s the best way to invest in it.” Fink will be on Mad Money later to discuss his annual shareholder letter. Up next: It’s another quiet twenty-four hours on the earnings front. The only notables Wednesday morning are cruise line Carnival Corp and the uniform supplier Cintas . Jefferies Financial, which reports Wednesday after the bell, is an interesting one because it will give us a first look into investment banking activity. (See here for a full list of the stocks in 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.
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.)
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