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What I am looking at November 19, 2021:
- Sticking my neck out to say that Workday (WDAY) should be bought…this quarter was a very strong one, and the pipeline is the best it has been in ages... I think the stock ran up because there were three straight days of upgrades...I have interviewed CEO Aneel Bhusri literally dozens of times and he was the most ebullient I can recall him on Mad last night... they are winning every jump ball... Piper raises price target
- Williams Sonoma (WSM) CEO on Mad Money tonight... last night's quarter was very strong and the nitpicking seems silly... I am putting this one in the "almost Home Depot" camp because it is hard goods and the benchmark is Home Depot... was it as strong as Home Goods from TJX which was extraordinary?... yes, and the West Elm non-blowout is the only fly in the ointment and still negative to 2019 for the stores because the on-line is so good... more units per order and higher tix—buying whole houses... B2B, first party data v. loyalty... still ocean freight issue... multiple price target boosts
- Macy's (M)... after interviewing Jeff Gennette I find, even up here, there are a multitude of ways to make money and I think that AlixPartners, whom they brought in, will do a serious analysis of whether Macy's should spin off its omnichannel arm in kind of a reverse Amazon where Amazon had a retail business, but it turns out the real worth was in the web services... Macy's Web Services would be very expensive but it would be worth the price of the stock... Yes, the price of the stock... so I think they will do the spin.
- Apple (AAPL)... self-driving apparently is the goal... I say don't even bother to challenge Nvidia where I am going today (on Mad tonight) when it comes to self-driving. .. Jensen Huang is the master and his version could be the only one that has staying power... analyst Katy Huberty at Morgan Stanley lays out five points on why Apple will be good at this, ending with services is the payday not the car itself... Charitable Trust name
- Zendesk (ZEN)... not winning any friends after analyst meeting that was meant to explain Survey Monkey buy... Cowen downgrades...Jefferies cuts price target
- Walmart (WMT)... MKM goes from hold to buy... says best positioned should the consumer be more price conscious... Charitable Trust name
- Tesla (TSLA)... price target raised from $1,100 to $1,400 at Wedbush... analyst Ives says EV revolution $5 trillion market opportunity
- Deutsche Bank starts a catalyst sell call on Robinhood (HOOD)... says Schwab is getting very aggressive
- The Trade Desk (TTD)... PT from $85 to $105 at Citi—still the best alternative to Google
- Citi does catalyst buy call on PulteGroup (PHM)... Lennar has become THE market leader away from tech
- Kohl's (KSS)... price target raised from $67 to $73 Citi— Sephora strong… I still prefer Macy's because of the omni
- Citi cuts Alibaba (BABA) PT from $240 to $234, keeps buy –shows you the love never really went away
- Ford (F)...600,000 electric vehicles by 2023 ... how can this stock be valued this low?
- Intuit (INTU)... another blowout... multiple price target boosts... Goldman goes hold to buy... Credit Karma doing so well… center of all small business growth? I can make that case... they have the consumer and SMB covered.
- Foot Locker (FL)... supply chain woes... full price selling though…
- Crude oil peaked?... At $76 it sure looks like it.... buy Chevron (CVX) if you want a winner in this environment –they crush it at these prices... 4.6% dividend yield
- Strong number from BJ's Wholesale (BJ)... will we start comparing this one to Costco and is it deserving?... I think so…
- Applied Materials earnings (AMAT)... disaster $6.12B in sales, short of estimates... supply chain shortfalls of certain key components.. CEO Gary Dickerson says on call: "These constraints worsened in the last few weeks of the quarter."... supply chains will persist and be a headwind in the next year ..Demand side is VERY strong... shortage cost them north of $300M... good for Micron (MU)???
- Lockdowns again hurting the travel companies... Austria...killing airlines and bringing back Peloton and Zoom shares... oh please
- Banks being crushed lately...rates go lower on lockdowns
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(Jim Cramer's Charitable Trust is long AAPL, WMT, F, COST, MS.)