Investing Club: What Cramer is watching Tuesday — Nike wows, nickel's collapse, Nvidia investor day

Published Tue, Mar 22 20229:27 AM EDTUpdated Wed, Mar 23 20227:50 AM EDT

What I am looking at March 22, 2022 Was Okta compromised by screenshot stealing? Is it a major breach? The authentication services providers is investigating reports of a digital breach and says it will provide details when available. Share were down more than 6% in premarket trading. Nickel is breaking down. Need to see aluminum and lithium fall. Price of steel did not come down so Club holding Nucor (NUE) up big. Nike (NKE) was extraordinary. Direct-to-consumer and strong intelligence on what consumer wants means less wholesale. Credit Suisse raises price target to $165 from $160, says China is accelerating more than expected. I say strong U.S. and weak China but good enough. Russia's invasion of Ukraine: war of attrition with missiles versus drones. No clear winner. Why don't we publish the names of the generals? We have them. No sign of end of high shipping prices – Yes Star Bulk Carriers (SBLK) sells at just 4.6 times forward earnings. Procter & Gamble (PG) upgraded to buy from hold at Truist—ideal safety stock? The year it breaks away from the pack? We agree and featured it on Mad Money last week. Corteva (CTVA) price target raised to $66 from $59 at Citi. Russian-Ukraine war has caused fertilizer prices to spike on supply concerns in tight market. Citi also raises Nutrien (NTR) to $126 from $89, Mosaic (MOS) to $74 from $49, Citi; FMC Corp to $152 from $137. On the flip side, Bank of America double downgrades FMC to sell from buy. Citi cuts price targets at Qorvo (QRVO) and Skyworks (SWKS) on supply-chain weakness related to China. I find this quizzical because I see no cessation of demand anywhere in China. Questionable call. Xiaomi had great numbers last night. So few SPACs have analyst coverage that it's difficult to tell how they are doing. Meme/internet favorite Upstart (UPST) goes to sell from hold at Wedbush ... 14% short position, 2021 deteriorating. Coinbase (COIN) price target lowered to $275 from $300—needs to make sizable investment to scale up. Is this no longer the preferred stock way to play crypto? Do you just need to own crypto? Truist cuts Keurig Dr Pepper (KDP) to hold from buy, says it was more of a pandemic play than realized. Even though Sherwin-Williams (SHW) has pricing power and is upgraded to a buy at Bank of America, the analyst also slashed the price target, nullifying the call. Mizuho says survey shows cash app from Block (SQ) is the leader for teenagers. I counter that they grow up to be American Express (AXP) cardholders … Scotts Miracle-Gro (SMG) price target lowered to $185 from $225 at Truist ... keeps a buy rating. Datadog (DDOG): A winner. BTIG initiates with a buy ... application performance company like Splunk (SPLK). Analyst calls it best in class sales and marketing efficiency. Schlumberger (SLB) upgraded to Conviction Buy List at Goldman Sachs. Overestimated Russian exposure. Baker Hughes (BKR) downgraded to buy from Conviction ... Alibaba (BABA) huge buy back, expands to $25 billion from $15 billion. Tesla founder and CEO Elon Musk to cut ribbon on the new Giga Berlin plant in Germany. Supply very tight ... goal to make 2 million units by end of 2022 ... Dan Ives: "Major Beachhead." Major competitive event. German authorities finally given approval. Canaccord says move derisks China. Deere (DE): Peak agricultural worries, raises estimates. Nvidia (NVDA) virtual investor day starts at 1 p.m. ET. One of our Club holdings. Zoom (ZM) brand still strongest: Morgan Stanley Morgan Stanley on Alphabet (GOOGL): online travel improved, which verticals will be next? Guessing game Micron (MU): Long-term positive thesis. Goldman Sachs makes huge call: expects global auto production to be 81.6 million in 2022, down from previous estimate of 85 million. Lowers 2022 EPS estimates by 6% ... very bad. (Jim Cramer's Charitable Trust is long NUE, NVDA. 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.

A pair of Louis Vuitton-Nike sneakers is displayed at Sotheby's in New York on January 19, 2022. Two months after the death of US designer Virgil Abloh a pair of Louis Vuitton-Nike sneakers, designed for the last fashion show during his lifetime in 2021 and awaited by collectors, will be auctioned at a minimum of 2,000 USD for the benefit of a charity, Sotheby's announced.

Ed Jones | AFP | Getty Images

What I am looking at March 22, 2022

Was Okta compromised by screenshot stealing? Is it a major breach? The authentication services providers is investigating reports of a digital breach and says it will provide details when available. Share were down more than 6% in premarket trading.