My Top 10 to Watch Tuesday, May 21 Wall Street is set for a quiet start to trading Tuesday after the Nasdaq closed at a record high to start the week. The S&P 500 also broke records during trading and closed flat. The S&P 500 short range oscillator, my go-to momentum indicator, remains overbought, but well below the extreme levels we saw last week. Palo Alto Networks is better than it seems. Billings is not a good indicator, and those who sold Cyber Security Club stock after a subdued quarter are missing the big picture. It’s all about remaining performance obligations (RPO) and new customers, and as you can see in Monday night’s earnings, those are incredibly strong. Palo Alto also bought back $500 million worth of stock. Shares fell 9% in after-hours, but the decline had narrowed to 6% in early trading. Shares of home improvement center company Lowe’s rose nearly 3% as the company posted better quarterly profits and sales. Like-for-like sales decline was 4.1%, which was not as bad as expected. Positive returns in professional and online partially offset lower spending on big-ticket items among DIY customers. Lowe’s left its full-year forecast unchanged. Macy’s reported better-than-expected quarterly results, sending its stock up about 4%. The department store owner raised its full-year earnings outlook. The company’s Bloomingdale’s and Blue Mercury brands are doing well. Women’s shoes and beauty are strong. Macy’s will close 150 nameplate stores. Citi begins active catalyst monitoring of Gap. The stock price is up 2%. Analysts believe Gap, Banana Republic Old Navy and Athleta are poised for quarterly gains. Gap will release its financial results next week. UBS raised its price target for Abercrombie & Fitch from $145 to $155 per share. Analysts say an upward revision is coming. Shares of the company, which owns the Abercrombie and Hollister brands, are rising after closing 3.75% higher on Tuesday. JPMorgan Chief Executive Jamie Dimon hinted Monday that his departure could come sooner than previously expected. The bank’s stock price fell 4.5%. It’s going up quite a bit on Tuesday. Baird, Piper Sandler and Keefe Bruyette raise their price targets on JPMorgan, amid expectations of Dimon’s retirement and his comments that “we’re not going to buy back a lot of stock at this price.” He cited a strong Investor’s Day. Zoom Video saw little growth, with quarterly revenue increasing 3.2%. The stock price fell nearly 3%. However, Zoom outperformed the quarter in terms of revenue and bottom line. Citi raised its price target for Dell Technologies from $125 to $170 per share. Analysts believe Dell is gaining market share in artificial intelligence. Dell, which manufactures servers and his PCs, is a close partner of the club name Nvidia. Harry Sommer, CEO of Norwegian Cruise Line, told “Mad Money” that younger generations are becoming increasingly interested in getting out on the water. Shares rose slightly on Tuesday, a day after the company rose 7.5% on guidance hikes. Wall Street also continued to lose its ability to raise price targets. Sign up for free for my Top 10 Morning Thoughts on the Markets email newsletter (See here for a complete list of Jim Cramer Charitable Trust stocks.) Jim Cramer’s CNBC Investments As a club subscriber, you can receive trade alerts. Before Jim trades. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in the charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. 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.
Top 10 to watch for Tuesday, May 21st
Wall Street is expected to start trading quietly after Tuesday. Nasdaq We started the week with a record closing price.of S&P500 It also broke records during the session and closed flat. The S&P 500 short range oscillator, my go-to momentum indicator, remains overbought, but well below the extreme levels we saw last week.
palo alto networks It’s better than it looks. Billings is not the right indicator, and those who sold Cyber Security Club stock after a subdued quarter are missing the big picture. It’s all about remaining performance obligations (RPO) and new customers, and as you can see from Monday night’s earnings, those are incredibly strong. Palo Alto also bought back $500 million worth of stock. The stock fell 9% in after-hours, but the decline had narrowed to 6% in early trading.
lowe’s Shares rose nearly 3% as the home improvement company reported higher quarterly profits and sales. Like-for-like sales decline was 4.1%, which was not as bad as expected. Positive returns in professional and online partially offset lower spending on big-ticket items among DIY customers. Lowe’s left its full-year forecast unchanged.
Macy’s It was a better-than-expected quarter, with the stock up about 4%. The department store owner raised its full-year earnings forecast. The company’s Bloomingdale’s and Blue Mercury brands are doing well. Women’s shoes and beauty are strong. Macy’s will close 150 nameplate stores.
Citi launches positive catalyst watch gap. The stock price is up 2%. Analysts believe Gap, Banana Republic Old Navy and Athleta are poised for quarterly gains. Gap will release its financial results next week.
Raised by UBS Abercrombie & Fitch The target price is $155 per share, up from $145. Analysts say an upward revision is coming. Shares of the company, which owns the Abercrombie and Hollister brands, are rising after closing 3.75% higher on Tuesday.
JPMorgan Chief Executive Jamie Dimon hinted Monday that his departure could come sooner than previously expected. The bank’s stock price fell 4.5%. It’s going up quite a bit on Tuesday. Baird, Piper Sandler and Keefe Bruyette raise their price targets on JPMorgan, amid expectations of Dimon’s retirement and his comments that “we’re not going to buy back a lot of stock at this price.” He cited a strong Investor’s Day.
zoom video saw little growth, with quarterly sales increasing 3.2%. The stock price fell nearly 3%. However, Zoom outperformed the quarter in terms of revenue and bottom line.
Citi raises price target Dell Technologies From $125 to $170 per share. Analysts believe Dell is gaining market share in artificial intelligence.Server and PC manufacturer Dell is a close partner of Club Name Nvidia.
Norwegian Cruise Line CEO Harry Sommer told me on “Mad Money” that younger generations are becoming increasingly interested in getting out on the water. Shares rose slightly on Tuesday, a day after the company rose 7.5% on guidance hikes. Wall Street also continued to lose its ability to raise price targets.
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