Johnson & Johnson is reaching a milestone for one of its most exciting plumbing products
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch – an afternoon update that can work, during the last hour of trading on Wall Street. Markets are rising to new record highs, and the AI theme of building infrastructure is leading the way again. Unlike Monday’s market pullback, oil prices and interest rates are not getting in the way of a rally. With no new escalation in the Middle East conflict, US West Texas Intermediate crude oil futures fell nearly 4% on Tuesday; the average 10-year Treasury yield is slightly lower. Hot chip makers Intel, SanDisk and Micron saw double-digit percentage gains, fueling a strong day for tech stocks. Although we don’t own those three companies, many of our AI stocks have traded well, including Broadcom, Arm Holdings, Qnity Electronics and Corning. Amazon, Broadcom, Alphabet, and Qnity all hit new 52-week highs in the session. The best-performing sector in the S&P 500 on Tuesday was utilities, with Club DuPont the biggest mover in the group due to its strong earnings report. Johnson & Johnson announced Tuesday that its robotics research program in Ottawa has achieved a milestone. In its first clinical trial evaluating the safety and efficacy of the system in Roux-en-Y gastric bypass procedures, Ottava met its primary endpoints in the 30-day procedure. The data were presented at the 2026 American Society for Metabolic and Bariatric Surgery Annual Meeting. In a note to clients, Cowen analysts said they believe the results will be sufficient to support Food and Drug Administration approval for most upper abdominal procedures. J&J is also studying Ottawa for inguinal hernia repair, which Cowen said is one of the most common surgeries in the US The broader takeaway is that J&J is poised to enter the robotic surgery market that has long been dominated by Intuitive Surgical’s da Vinci systems. Last month, J&J said they expected Ottawa to be approved sometime in 2026. The Ottawa approval will be another step in helping J&J achieve its goal of achieving double-digit revenue growth by the end of the decade. A big night of technology profit with small advanced devices , Arista Networks , Super Micro , Lumentum and Astera Labs scheduled to report. Before the opening bell on Wednesday, we will see gains from Disney , Uber , CVS Health , Kraft Heinz , Apollo Global Management , and EOG Resources . On the data side we will see mortgage applications and ADP’s April employment report for payroll processor. Finally, we’ll take a look at Club Name Corning’s investor day, which will begin at 9 a.m. ET. The company is expected to update its long-term goals and provide more details about the portfolio of AI products it is producing. (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.
