Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. Stocks were higher Wednesday as big tech drove gains and bond yields remained tame. Earnings were keeping investors on their toes with more than half of all S & P 500 companies having reported third-quarter results already. After Wednesday’s closing bell, Club names Meta Platforms , Microsoft , and Starbucks are among the biggies. We’re watching for Meta for AI updates and advertising, Microsoft for its new cloud reporting structure , and Starbucks for what new CEO Brian Niccol has to say about his turnaround plans as well as the preannounced quarter. 2. Google parent Alphabet posted third-quarter earnings ahead of Street expectations after the bell Tuesday. The company showcased its cloud strength, bolstered by the adoption of its artificial intelligence products. Shares of the tech giant rose more than 5% on Wednesday. Meanwhile, fellow Club stock Advanced Micro Devices fell 9.5% on Wednesday, the morning after it issued light guidance. There is “a false belief that maybe we’re nearing the end of demand,” Jim Cramer said. “If you don’t have enough chips to get from Nvidia , you go down to AMD,” he added. Jim noted the drop in shares could be an opportunity but wants to see where the stock settles. 3. Shares of giant Eli Lilly were sinking more than 10% when the Morning Meeting was being recorded following Wednesday’s before-the-bell sales and earnings misses for the third quarter and guidance cut. Jim is inclined to see the drop as a buying opportunity. The Club is restricted from buying Lilly because Jim mentioned on it TV. Lilly shares later trimmed those losses. GE Healthcare , meanwhile, also reported Wednesday morning. The company slightly missed on revenue but made up for it with a strong backlog and durable sales growth in China. Check your email inboxes and texts later for our full earnings commentaries on both companies. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: Caterpillar , Reddit , Visa , Chipotle , and Super Micro . (Jim Cramer’s Charitable Trust is long META, MSFT, SBUX, GOOGL, AMD, LLY, GEHC. See here for a full list of the stocks.) 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.
Jim Cramer on Eli Lilly, AMD shares after their big slides on earnings
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