MY NUMBER 1 RECOMMENDATION TO LOSE WEIGHT: CLICK HERE
Every weekday, the CNBC Investing Club with Jim Cramer hosts “The Morning Briefing” live at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Stocks rally Earnings rise Club names Holding DHR 1. Stocks rally Stocks rallied on Friday on a report from the Wall Street Journal that suggested the Federal Reserve may slow the pace of rate hikes in December to avoid an unnecessary surge economy. The S&P 500 rose 1.3% in Friday trading. The club’s banking shares – seen as a potential leader in this market – also rose. Morgan Stanley ( MS ) rose more than 2% to $78.15 a share, while Wells Fargo ( WFC ) rose more than 1% to $44.09 a share. Jim Cramer said Friday that the club sees financial institutions as some of the strongest stocks in the market and continues to support MS and WFC. 2. Earnings Move Club Names Oilfield services group Schlumberger ( SLB ) reported solid earnings on Friday. The company said it forecasts sequential revenue growth and margin expansion, meaning it has pricing power — and expect rival and club holding company Halliburton ( HAL ) to demonstrate the same advantage when it reports quarterly results next week. Accordingly, Halliburton shares rose more than 5% to $33.47 per share. “You’ve got to buy the hell out of Halliburton,” Jim said. Snap ( SNAP ) beat revenue expectations in its most recent quarter, sending shares down more than 30%, with knock-on effects for Club holdings Alphabet ( GOOGL ) and Meta ( META ), which fell 0.28% and 2 .5%. Snap blamed the error on advertising partners tightening their marketing budgets. But that contrasts with the club’s holding company Procter & Gamble (PG), which this week said it was actively shifting cash to spend more on targeted digital ads instead of TV ads. Jim said Friday that digital ad dollars appear to be going to companies like Amazon ( AMZN ), Alphabet and to some extent Meta — but not Snap. 3. Stick with DHR Shares of Danaher Science and Technology Group ( DHR ) fell on Thursday after it reported better-than-expected third-quarter results but lowered its 2022 bioprocessing revenue growth forecast to took into account the $200 million reduction in contributions from the Covid-19 market. We are not concerned about the reduction in expected growth as the company’s core business posted organic growth of 8.5%. That means Danaher isn’t overly dependent on the sales boost it experienced at the height of the pandemic. We expect investors to realize their mistake in selling Danaher and urge others to buy the stock. Danaher traded down 0.73% on Friday at $241.31 per share. (Jim Cramer’s charitable trust has debt to AMZN, DHR, GOOGL, HAL, META, PG, MS, WFC. See here for a full list of stocks.) As a CNBC Investing Club with Jim Cramer subscriber, 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 charity’s portfolio. If Jim talked about a stock on CNBC, he waits 72 hours after the trade alert is issued before he executes the trade. THE ABOVE INFORMATION IN THE INVESTING CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY SHALL EXIST OR BE CREATED BY YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
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MY NUMBER 1 RECOMMENDATION TO LOSE WEIGHT: CLICK HERE
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