My top 10 things to watch Friday, April 17 1. The S & P 500 is headed for a higher open this morning after Iran declared the Strait of Hormuz open to commercial traffic during the Israel-Lebanon 10-day ceasefire. Oil prices sank 10%. President Donald Trump said the U.S.-Iran war “should be ending pretty soon.” The S & P 500, which is on track for another winning week, closed at another record high in Thursday trading. 2. iPhone shipments in China jumped 20% during the first quarter, according to CounterPoint Research data. That was despite an overall decline in the smartphone market due to soaring memory costs. Great news for Apple’s biggest money maker. I continue to say, “own, don’t trade” this one. 3. Price target came fast and furious cuts on Netflix. Barclays lowered to $110 from $115 after the company delivered disappointing guidance. Wolfe Research took Netflix down to $107 from $110. Rosenblatt cut to $95 from $96. Shares are down more than 9%. 4. Bank of America swapped JPMorgan for Goldman Sachs in its best ideas list. Analysts kept their buy ratings on both. I still like Goldman. It is Wells Fargo that I tire of, especially after this week’s lackluster earnings . We downgraded our Club rating on Wells Fargo to a hold-equivalent 2 . We own both Goldman and Wells. 5. Danaher was taken from a price target of $220 to $205 at Rothschild & Co Redburn. Analysts said the company’s exposure to its legacy stainless-steel Pall business will dampen growth. We exited Danaher in February. This is not the same old business that I have loved over the many years I have followed this one. 6. JPMorgan trimmed its Procter & Gamble price target to $162 from $165. Analysts tweaked their estimates ahead of next week’s earnings. They kept P & G a buy. But no enthusiasm there. We own P & G as a hedge against economic uncertainty. With a new CEO, I wished we owned more for the Club. 7. Estee Lauder got a price target cut to $98 from $121 at JPMorgan, which also removed the stock from its analyst focus list but kept a buy rating. The troubled luxury brand reports earnings on May 1. Maybe this company needs to sell itself? It’s a broken stock. 8. Affirm was elevated to a top pick at Morgan Stanley. Analysts cited “overdone” private credit concerns putting a drag on financials. They said next month’s investor day meeting could be a catalyst for this buy-now-pay-later name whose stock can be volatile. 9. Unheralded Prologis call. That’s because of new CEO Dan Letter, who understated some of the good things happening at the industrial real estate company. Didn’t tell the story of an uptick in rents or the data center build-out. Letter took over in January. 10. Lots of price target cuts for Abbott Laboratories: Benchmark to $120 from $145, Stifel to $120 from $145, and Bank of America to $120 from $150. The prevailing view is that yesterday’s earnings and conference call didn’t wow the Street. However, analysts at all three firms did keep the stock a buy. 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.
Friday, April 17
Jim Cramer’s top 10 things to watch in the stock market Friday
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