My top 10 things to watch Tuesday, March 19

  1. Nvidia unveiled a more powerful chip platform with an operating system for accelerated computing and generative artificial intelligence. What does it mean for the company? What does it mean for the stock? What does it mean for the economy? I’ll ask Nvidia founder and CEO Jensen Huang in a live interview on CNBC at 10:15 a.m. ET. An exclusive Part 2 of the Jensen interview will be on “Mad Money” tonight.
  2. Nvidia shares are down roughly 2.5% early Tuesday following Jensen’s keynote address at the company’s annual GTC developers conference. Still, the stock is up more than 75% year to date and about 240% over the past 12 months.
  3. Shares of Super Micro Computer sank 10% on Tuesday after the AI server maker announced a new share offering. The company lost more than 6% on Monday after joining the S&P 500. It was down sharply last Friday and Thursday, too, taking a bite out of one of the biggest rallies tied to the AI boom.
  4. Redburn Atlantic downgraded Snowflake to sell from neutral and cut its price target to $125 per share from $180. Snowflake’s new CEO, Sridhar Ramaswamy, joins me on “Mad Money” tonight. Snowflake shares dropped 30% since the announcement of Frank Slootman’s retirement late on Feb. 28. Snowflake is a cloud-based platform that allows users to store, process and analyze their data.
  5. Wall Street is looking lower Tuesday, the first day of the Federal Reserve’s two-day March meeting. The S&P 500 and Nasdaq each broke a three-session losing streak on Monday. Central bankers on Wednesday afternoon are expected to hold interest rates steady again.
  6. Investors will read the Fed’s policy statement and listen closely to Fed Chairman Jerome Powell’s news conference Wednesday afternoon to see when a rate cut might be in the cards later this year. Central bankers could cut rates fewer times than expected in 2024, according to January’s CNBC Fed Survey.
  7. Mizuho likes Five Below. Fed rate cut story to buy retailers. Mizuho also says Lowe’s more subdued but stable. The analysts are optimistic about the garden season.
  8. Wedbush cut Nike price target to $115 per share from $131 ahead of Thursday evening earnings. Is this one done? Lots of PT cuts.
  9. AstraZeneca bought Fusion Pharmaceuticals for $21 per share. Next-generation cancer treatment. Fusion shares nearly doubled to trade up to the offer price.
  10. Citi added Club industrial name Honeywell to its buy list.

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.)

What Investing Club members are reading right now

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.



Source link