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 Monday’s key moments. Bullish on JNJ Upgrades for AMD Cost cuts at Disney 1. Bullish on JNJ Johnson & Johnson (JNJ) is a high-quality and recession-resistant name we’ve urged investors to own in this turbulent economic environment — and we think it could soar even higher once the company completes the spin-off of its consumer health unit next year. “The number one name to own for 2023 in our portfolio could very well be JNJ because of the break,” Jim Cramer said Monday. 2. Upgrades for AMD UBS and Baird both upgraded Advanced Micro Devices (AMD) to a buy at the start of the week. UBS cited optimism around the company’s PC business next year, while Baird said a strong performance from the company’s news chip , Genoa, could help it garner more market share next year. We want to stay long on the stock but advise investors to wait for a pullback before adding to their positions. We recommend that investors swoop in when the stock dips below $73 a share. AMD’s stock was up 1.6% in midmorning trading, at $73.53 a share. 3. Cost cuts at Disney Club holding Walt Disney Co. (DIS) plans to implement a hiring freeze and trim its headcount , according to an internal memo CEO Bob Chapek sent to division heads Friday. However, we don’t believe these steps go far enough following the dismal fiscal fourth-quarter results Disney reported last week. We’re sticking with the stock for now, though, because we believe that Disney maintains a stellar franchise, despite lackluster leadership at the top. The stock was trading up 1.28% midmorning, at $96.23 a share. (Jim Cramer’s Charitable Trust is long AMD, DIS, JNJ. 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.
For all the latest Health News Click Here
For the latest news and updates, follow us on Google News.
Read original article here
Denial of responsibility! TheDailyCheck is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by
email – abuse@thedailycheck.net The content will be deleted within 24 hours.
