Investing Club: What we're watching Thursday afternoon — two Trust holdings hit 52-week highs

Published Thu, Mar 17 20221:47 PM EDTUpdated Thu, Mar 17 20221:54 PM EDT

As mentioned in today's Morning Meeting, here is the Wall Street Journal story detailing Chinese President Xi Jinping's pledge to reduce the economic and social impact of the country's Covid-19 control measures. The implications? China moving away from its zero-tolerance Covid-19 policy would be very positive for the Macau casino operators (like Club holding Wynn Resorts ) to international travel (perhaps Boeing — China needs more planes) to manufacturing and retailers that operate in the region. Amazon (AMZN) closes its $6.5 billion acquisition of MGM Studios — should be a nice boost of content for Prime Video. New approvals: Abbvie (ABBV) announced late Wednesday that the U.S. Food and Drug Administration has approved Rinvoq for the treatment of adults with moderately to severely active ulcerative colitis. This FDA approval is the first indication for Rinvoq in gastroenterology ... not a surprise, but important to the overall story because the growth of RInvoq and another drug, Skyrizi, are expected to make up for the sales that are lost as Humira faces increased competition. Two of our stocks made new 52-week highs today: AbbVie and Eli Lilly (LLY). Why does the market love these two drug stocks? No supply-chain issues and earnings growth is independent of what is happening in the broader economy. FedEx (FDX) reports after the bell tonight … consensus estimates on FactSet are for $23.4 billion in sales and adjusted EPS of $4.65 … expect the results and commentary to move the stock of United Parcel Service (UPS). (Jim Cramer's Charitable Trust is long ABBV, AMZN, BA, LLY, UPS, WYNN. See here for a full list of the stocks.) 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.

Chinese President Xi Jinping during the opening ceremony, 2022 Beijing Olympics, National Stadium, Beijing, China, February 4, 2022.

Anthony Wallace | Pool via Reuters

As mentioned in today's Morning Meeting, here is the Wall Street Journal story detailing Chinese President Xi Jinping's pledge to reduce the economic and social impact of the country's Covid-19 control measures. The implications? China moving away from its zero-tolerance Covid-19 policy would be very positive for the Macau casino operators (like Club holding Wynn Resorts) to international travel (perhaps Boeing — China needs more planes) to manufacturing and retailers that operate in the region.