Jim Cramer’s 10 things to watch in the stock market on Wednesday

1. ConocoPhillips Agreed to purchase Marathon Oil The acquisition was made in a stock deal valued at $17.1 billion. The acquisition expands the world’s third-largest oil company’s shale assets in Texas, New Mexico and North Dakota. COP shares fell more than 3% in premarket trading on the news, while MRO shares rose more than 7%.

2. Anxiety Salesforce resemble Working days: Shares of the enterprise management company fell after its second-quarter subscription revenue guidance fell short of analysts’ expectations. Club stock Salesforce will report quarterly earnings after the close, and CEO Marc Benioff will appear on Mad Money tonight at 6pm ET.

3. Cloudflare Co-founder and CEO Matthew Prince is repositioning the web security and content delivery network provider as a connectivity company. Watch our interview with Prince ahead of the company’s investor day on Thursday.

Four. Restaurant Chains Kava The company reported better-than-expected quarterly profit and revenue and raised its same-store sales outlook. Nobody cares. The stock fell 5% in premarket trading. Many price targets were raised, including from Wedbush ($74 to $90) and Morgan Stanley ($68 to $85).

Five. Bank of America repeated apple The company told customers that the AI-driven upgrade cycle for its smartphones could be a “once-in-a-decade event,” and dubbed its AI-enabled devices “IntelliiPhones.” Meanwhile, analysts at Evercore ISI, citing the latest shipment data from April, said China’s iPhone market was holding up better than feared.

6. Sharply lowered second-quarter forecast American AirlinesThe airline now expects total revenue per available seat mile to be 5 to 6 percent lower than its previous outlook. It lowered its second-quarter adjusted EPS forecast to $1 to $1.15 from a previous target of $1.15 to $1.45. The airline also fired its chief commercial officer, Vas Raja. AAL shares fell more than 9 percent.

7. This time, Truist Norwegian Cruise Line Buy or hold. It’s herd mentality. CEO Harry Sommer spoke with me a week ago after the company raised its full-year outlook, saying millennials and Gen Z are the fastest-growing segments in cruises right now.

8. Approximately 8% Starbucks Customers were waiting 15 to 30 minutes for their orders last quarter, compared with virtually no one waiting that long a year ago, Bloomberg reported, citing Technomic data.

9. Unrelenting hatred Ulta BeautyAnalysts at Baird and Canaccord Genuity are the latest to cut their price targets on the stock. Baird to $525 a share from $625, while Canaccord is currently at $522 from $575. Ulta is scheduled to report first-quarter results after the close on Thursday. In April, Ulta’s CEO said demand for beauty products was cooling.

Ten. JPMorgan raised its price target. Crowdstrike Shares have risen from $371 to $400, reflecting what analysts consider to be a “best in class” position for cybersecurity companies and the increasing likelihood that their bullish outlook will come to fruition. Is CrowdStrike the only company in the cybersecurity space without price pressure? The company is scheduled to report quarterly earnings next week. We remain highly rated. Palo Alto Networks For the club.

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