Every weekday, CNBC Investing Club hosts a “Morning Meeting” livestream with Jim Cramer at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. U.S. stocks rose on Friday as Wall Street cheered a weaker-than-expected jobs report, an encouraging sign that the Federal Reserve’s fight to curb inflation is working. “That’s the kind of number you need that basically says the Fed is doing its job,” Jim Cramer said. Also contributing to market gains was Club’s holdings in Apple shares, which rose greater than 6% on Friday after the iPhone maker reported a quarterly sales and profit average on Thursday and announced a record share buyback. Shares of Coterra Energy rose 2% on Friday after reporting solid quarterly leads to the previous session. Coterra reported that oil production was above the high end of guidance and capital spending was below expectations, leading to higher profits and higher free money flow for the club holding company. Analysts at Mizuho Securities on Friday raised Coterra Energy’s price goal to $37 apiece from $34, arguing that the corporate has once more defied critics and exceeded expectations. Eli Lilly shares fell 2% on Friday after drugmaker Amgen reported positive preliminary trial data for its experimental weight-loss drug. Shares of Amgen rose 12% on the news. Investors seem concerned that Amgen will challenge Lilly’s dominance within the red-hot weight-loss drug market, but we’re not anxious. Eli Lilly has built a defensive moat available in the market, including its direct-to-consumer platform for the corporate’s anti-obesity drug Zepbound. (Jim Cramer’s Charitable Trust is Long CTRA, LLY, AAPL. See a full list of stocks here.) As a subscriber to CNBC Investing Club with Jim Cramer, you’ll 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 foundation’s portfolio. If Jim discussed a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE INVESTING CLUB INFORMATION SET FORTH ABOVE IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, ALONG WITH OUR DISCLAIMER. THERE ARE NO fiduciary duty or duty IN RECEIVING YOUR INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
Thursday, November 28, 2024
