My top 10 things to watch Tuesday, April 30 1. Down month: U.S. Stocks are headed for their first losing month since October. The Dow is on pace for a 3% loss, while the S & P 500 and Nasdaq are each looking at 2% declines. 2. Mcdonald’s is a miss. Earnings per share for the first quarter came in at an adjusted $2.70 vs. $2.72 expected on the Street. The company cited weaker demand in its international segment, which includes restaurants in the Middle East that have seen boycotts related to the Israel-Hamas war. Revenue for the quarter of $6.17 billion beat $6.16 billion expected. Shares of the fast-food chain lost 2% in premarket trading. 3. Coca-Cola beat on the top and bottom lines and raised its full-year outlook for organic revenue. EPS was 72 cents adjusted vs. 70 cents expected. For the year, Coke is now expecting organic sales growth of 8% to 9%, up from the previous range of 6% to 7%. KO shares were down less than 1% ahead of the opening bell. 4. American Express is hosting its investor today at 9 a.m. ET. Management should have lofty goals. 5. Bank of America upgraded MSCI to hold from sell and raised its price target to $525 from $425. The analysts said the recent sell-off is likely pricing in a worst-case scenario, and that the heavy first-quarter cancellations were a one-off event. 6. Club stock Eli Lilly announced a big raise to its full-year outlook based on strong sales of its diabetes and weight-loss drugs. The company now expects adjusted EPS of $13.50 to $14.00, up from prior guidance of $12.20 to $12.70. Shares were up 7% in the premarket. We will send members our full analysis of the drugmaker’s earnings following management’s conference call with investors. 7. GE HealthCare ‘s Q1 results look to be horrendous. We need to listen to management’s call, but a total miss on sales and earnings. Look for our full earnings analysis later today. 8. Walmart said it will close all of its healthcare clinics in the U.S. — 51 locations across Arkansas, Florida, Georgia, and Texas. It shows you just how expensive clinics are to run, the business model is just not there. Reimbursement rates are not improving. Operating costs were driven by increased labor rates and a scarcity of clinicians, nurses, and other healthcare professionals. 9. Eaton , a portfolio holding, reported Q1 adjusted EPS of $2.40 vs. consensus of $2.29, raising its FY24 outlook. More on Eaton in our analysis after the earnings call. 10. Cocoa prices have dropped more than 20% from its record high reached on April 19. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) 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.
An employee hands an order to a customer through a drive-thru window at a McDonald’s restaurant in Oakland, California, April 9, 2020.
David Paul Morris | Bloomberg | Getty Images
My top 10 things to watch Tuesday, April 30
1. Down month: U.S. Stocks are headed for their first losing month since October. The Dow is on pace for a 3% loss, while the S&P 500 and Nasdaq are each looking at 2% declines.
2.Mcdonald’s is a miss. Earnings per share for the first quarter came in at an adjusted $2.70 vs. $2.72 expected on the Street. The company cited weaker demand in its international segment, which includes restaurants in the Middle East that have seen boycotts related to the Israel-Hamas war. Revenue for the quarter of $6.17 billion beat $6.16 billion expected. Shares of the fast-food chain lost 2% in premarket trading.
3.Coca-Cola beat on the top and bottom lines and raised its full-year outlook for organic revenue. EPS was 72 cents adjusted vs. 70 cents expected. For the year, Coke is now expecting organic sales growth of 8% to 9%, up from the previous range of 6% to 7%. KO shares were down less than 1% ahead of the opening bell.
4.American Express is hosting its investor today at 9 a.m. ET. Management should have lofty goals.
5. Bank of America upgraded MSCI to hold from sell and raised its price target to $525 from $425. The analysts said the recent sell-off is likely pricing in a worst-case scenario, and that the heavy first-quarter cancellations were a one-off event.
6. Club stock Eli Lilly announced a big raise to its full-year outlook based on strong sales of its diabetes and weight-loss drugs. The company now expects adjusted EPS of $13.50 to $14.00, up from prior guidance of $12.20 to $12.70. Shares were up 7% in the premarket. We will send members our full analysis of the drugmaker’s earnings following management’s conference call with investors.
7.GE HealthCare‘s Q1 results look to be horrendous. We need to listen to management’s call, but a total miss on sales and earnings. Look for our full earnings analysis later today.
8.Walmart said it will close all of its healthcare clinics in the U.S. — 51 locations across Arkansas, Florida, Georgia, and Texas. It shows you just how expensive clinics are to run, the business model is just not there. Reimbursement rates are not improving. Operating costs were driven by increased labor rates and a scarcity of clinicians, nurses, and other healthcare professionals.
9.Eaton, a portfolio holding, reported Q1 adjusted EPS of $2.40 vs. consensus of $2.29, raising its FY24 outlook. More on Eaton in our analysis after the earnings call.
10. Cocoa prices have dropped more than 20% from its record high reached on April 19.
Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free
(See here for a full list of the stocks at Jim Cramer’s Charitable Trust.)
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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.
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