Jim Cramer’s top 10 things to watch in the stock market on Friday
My top 10 things to watch on Friday, June 12 1. Today is the day. SpaceX. The largest initial public offering ever, raised $75 billion. We want a pop of 25% to 30% transparency. Anything more than that encourages flippers and gives the company a weak shareholder base. You don’t want to see what happened to Figma. Don’t want a repeat of Cerebras. 2. Stock futures are high on hopes of a peace deal between the US and Iran that could reopen the Strait of Hormuz. Will we see one before next week’s G7 Summit? Oil did as it will, with the US benchmark WTI falling more than 3% to below $85 a barrel. The 10-year Treasury yield is little changed. This is a great setup for today’s session. 3. Adobe announced along with earnings that CFO Dan Durn is leaving to join Marvell. Software in semiconductors. A symbol of this market. The search was already on for a successor to longtime Adobe CEO Shantanu Narayen. Despite hitting highs and lows for the quarter, the stock is down 7%. Never admit things are slow. Downsizing of Stifel, Wolfe Research and Evercore ISI. 4. Advanced Micro Devices has been developed to be purchased and held at Citi. Although analysts had already hoped that agent AI was the mainstay of AMD’s central processing unit (CPU) business, they now see AMD as a legitimate second source in the graphics processing unit (GPU) market after the name of Club Nvidia. Citi expects Meta to buy more AMD chips than the street currently does. 5. JPMorgan raised its price target for Nokia to $21 from $14. This makes a ton of sense here. Nokia has reinvented itself as an AI networking player and has a partnership with Nvidia. In “Mad Money” earlier this month, I recommended waiting for a reversal before starting a small Nokia area. Well, we got that back. 6. Nasdaq 100 big changes coming: Astera Labs , CoreWeave , Nebius , Rocket Lab and Teradyne are scheduled to join before the opening on June 22. Lots of AI infrastructure names out there. Charter Communications, Cognizant Technology Solutions, Insmed, Verisk and Zscaler are the companies excluded from the index. Many funds track the Nasdaq 100 in the form of Invesco’s popular QQQ ETF. 7. Wow: The Bank of America has cut prices on the entire group of medical devices. Intuitive Surgical, Medtronic, Stryker, Becton Dickinson and Boston Scientific. This was such a strong team, but things have gone south since the fall. Deep pressure on prices and wages. 8. Williams-Sonoma was replaced by a Bank of America purchase. The target price remained at $250, which means about 15% upside. Analysts said the retailer is in a “statistical sweet spot” due to its strong customer base. CEO Laura Alber has done an excellent job of positioning WSM as affordable luxury. For the Club, our exclusive retailer is TJX, which plays at the price end of the spectrum with HomeGoods. 9. Barclays lowered its FedEx price to $425 from $450 to accommodate FedEx Freight. FedEx remains one of Barclays’ top shopping ideas among transportation. Analysts see more upside in earnings and valuations as the economy improves and consolidation of the FedEx network continues. We handle both FedEx and FedEx Freight for the Club. 10. Keefe Bruyette said Alphabet’s Google is a threat to Zillow and other real estate sites as the technology company’s expansion into real estate marketing increases competitive pressure. Goldman countered the same and lowered its price on Zillow to $40 from $53. Sign up for my free Top 10 Morning Thoughts on the Market email newsletter (See here for a full list of stocks from 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 stock in his charity portfolio. When Jim talks about a stock on CNBC TV, he waits 72 hours after issuing a trade warning before making a trade. THE PRIVATE INFORMATION OF THE BURNING CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AND OUR PRIVACY POLICY. NO LEGAL LIABILITY OR OBLIGATION EXISTS, OR IS CREATED, BY YOUR ACCEPTANCE OF ANY INFORMATION PROVIDED BY CONTACTING THE INVESTMENT CLUB. NO PARTICULAR RESULT OR INTEREST IS GUARANTEED.
