10 Things to Watch on Friday, September 27th 1. The S&P 500 was expected to open slightly higher on Friday after closing at a new record high. The 10-year Treasury yield finally fell after August data from the Fed’s preferred inflation measure, the PCE price index, subsided. With just a few business days left in what has historically been the worst month of the year, the S&P 500 was headed for its first September gain in five years. 2. Club-owned Costco stock fell slightly after Thursday night’s strong fiscal 2024 fourth-quarter earnings report. The wholesale retailer’s long-awaited dues hike took effect on September 1, but its impact will be limited until late 2025 and 2026, executives said. We have raised our price target on the stock. 3. Best Buy has been added to JPMorgan’s analyst watch list after a meeting with the electronics and consumer electronics retailer’s management team. Analysts reiterated their price target of $111, calling Best Buy a “value idea” to take advantage of the computing replacement cycle as sales of TVs and appliances increase as existing home sales improve. . This reflects well the club’s investment thesis. 4. The Food and Drug Administration has approved Bristol-Myers Squibb’s schizophrenia drug Cobenfi. This is the first new treatment for schizophrenia approved in 70 years. The New Jersey-based drug company’s stock rose more than 3% on the news. 5. Wynn Resorts was upgraded to the equivalent of “buy” by Morgan Stanley. Analysts say the casino operator’s stock could start to appreciate higher valuations thanks to stabilization in Las Vegas, more details about its project in the United Arab Emirates and higher capital gains. Win stock has struggled mightily since the spring, but the stock has rallied in recent days on news of China’s economic stimulus package. Macau, China’s gaming hub, is a thorn in Wynn’s side. 6. Citigroup downgraded Dollar General from Neutral to Sell and lowered its price target to $73 per share. This is about $14 below Thursday’s closing price. Analysts argued that Walmart was stealing market share, making recovery even more difficult for dollar store retailers. Jim Cramer criticized Walmart last month for Dollar General’s ugly earnings report. 7. Deutsche Bank reinstated coverage of Dell Technologies with a buy rating and price target of $144 per share. Analysts expect Dell’s revenue growth to accelerate to double digits, thanks in part to growth in its AI server business. We also expect revenue growth to reach double digits. and touts its “clean and simple” capital return framework. 8. According to Citigroup, caution is needed before PepsiCo’s October 8 earnings report. Analysts placed the company’s stock on a 30-day negative catalyst watch and said they don’t expect operating sales growth to grow due to the soda and snack maker’s weak North American business. 9. HP Inc. was downgraded by Bank of America from Buy to Neutral equivalent to Hold. This is because analysts expect that the upside in the company’s PC business will be offset by lower profit margins in the printer division. HP stock fell on Friday. 10. Dan Ives of Wedbush Securities raises his price target for Salesforce from $315 to $325 per share after positive customer feedback at the software maker’s DreamForce conference. . As I wrote for club members earlier this week, Salesforce’s new AI product has sent its stock skyrocketing. Sign up for free for Jim’s Top 10 Morning Thoughts on the Markets email newsletter (See here for a complete list of Jim Cramer’s Charitable Trust stocks.) Jim Cramer’s CNBC Investing As a Club subscriber, you can receive trade alerts. Before Jim trades. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
10 things to look out for on Friday, September 27th
1. S&P500 After Friday’s closing price hit a new record high, Friday’s opening price was expected to be slightly higher. The 10-year Treasury yield finally fell after August data from the Fed’s preferred inflation measure, the PCE price index, subsided. With only a few business days left in what is historically the worst month of the year, the S&P 500 was on track for its first September gain in five years.
2.Club event costco The stock fell slightly after the company released a strong fourth-quarter fiscal 2024 earnings report on Thursday night. The wholesale retailer’s long-awaited dues hike took effect on September 1, but its impact will be limited until late 2025 and 2026, executives said. We have raised our price target on the stock.
3. best buy The company was added to JPMorgan’s analyst watch list following a meeting with the electronics and consumer electronics retailer’s management team. Analysts reiterated their price target of $111, calling Best Buy a “value idea” to take advantage of the computing replacement cycle as sales of TVs and appliances increase as existing home sales improve. . This reflects well the club’s investment thesis.