Jim Cramer shares 10 things to watch in the stock market on Friday

1. Wall Street was looking to finish off May on a strong note. Stocks rose across the board on Friday after the Federal Reserve’s favorite inflation measure rose in April as expected, good news for bulls. S&P 500, Nasdaq And that Dow All are in the red.
2. Dell Expectations for server work using NVIDIA’s upcoming Blackwell chip platform got too high ahead of the earnings release. The stock fell about 16.5% after the company’s quarterly results were disappointing, and its profit outlook fell short of expectations. “We remain bullish on the upcoming PC refresh cycle and the long-term impact of AI on the PC market,” management said on the conference call.
3. Don’t be fooled by falling stock prices. CostcoThe quarter was strong and inflation remains low. I like the new management team and they will do a good job in the technology sector. Costco has received multiple price target increases from Wall Street analysts and clubs. The stock price has risen from $800 to $875 per share.
4. Best Buy The stock price rose nearly 13.5% after the company reported earnings on Thursday, helping to boost its stock price. The quarter was mixed, but management’s optimism about AI-powered PCs and smartphone refreshes helped the company. 40% of the new PCs were for Best Buy. Sales of soft electronics fell thanks to new PCs from Dell and Amazon. HP Corporationand a new phone cycle.
5. Club Name Foot Locker The market and clubs raised price targets after shares rose about 15% following the earnings report on Thursday. The stock rose again on Friday, pulling the stock out of a slump on signs that CEO Mary Dillon’s turnaround plan was working. We gave the company a rating of 2, which means we would consider buying if the stock dips.
6. gap had a much stronger quarter, with its stock up nearly 25%. CEO Richard Dickson is firing on all cylinders. Old Navy, the largest by far, is doing very well. Gap is doing well. Banana Republic is doing even better. Athleta is still too small to be a threat to Lululemon, but it’s continuing to do well.
7. Ulta BeautyThe quarter wasn’t as bad as feared, and shares rose about 9.5% early Friday morning, which was a relief. Ulta has nearly 1,400 stores and more than 43 million active members. It gained share in the mass market but lost share in the prestige market. Ulta lowered its full-year profit and sales outlook.
8. Nordstrom The company initially acknowledged its April 18 announcement that it was considering all options. The department store chain reported a bigger-than-expected loss but revenue beat expectations. Shares fell more than 3.5%. In a conference call after the earnings release, management said On Holdings running shoes, Sam Edelman and Birkenstock were brands to watch this quarter.
9. Bank of America Qualcomm The price target was raised to $245 per share from $180. Qualcomm is the unsung star of the mobile/PC industry, with its stock up 41.6% year to date. Exclusive partnership with club name Microsoft Using its chips in AI PCs is a key driver for the company.
10. MongoDB The developer data platform’s shares fell more than 20% after the company’s guidance fell short of expectations. The economy hurt the business and execution wasn’t as clear as they’d hoped. This is an example of a previously long-term company now becoming cyclical.

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