Investing Club: What Cramer is watching Thursday — NATO meeting, KB Home miss, rising rates

Published Thu, Mar 24 20229:29 AM EDTUpdated Mon, Mar 28 20227:56 AM EDT

What I am looking at March 24, 2022 De facto tightening continues with bonds adjusting to the new world ... 20-year bond issuance yielding 2.68%. Still relentless rise in interest rates, which is very negative for stocks. But West Texas oil is down. Stock futures were up as NATO leaders met in Brussels to discuss upping pressure on Russia. KB Home (KBH) — major miss on quarterly sales and earnings. Company said it's dealing with supply and labor issues. Deep dive needed as California fulcrum must be explained. Not there yet. Barclays lowers price target to $50 from $61... disconnect to real valuation? Multiple price target cuts for Ollie's Bargain (OLLI). Supply chain blamed. But why would anyone offload supply to the discount retailer? Traeger (COOK) cut to hold from buy at Jefferies, slashes price target to $7 from $25. First-class debacle for great grill company. General Mills (GIS) price target raised to $73 from $71 at Deutsche Bank. Quarter came in better than expected, raised full-year outlook. Club holding Nucor (NUE) price target raised to $129 from $113 at JPMorgan. Analyst stays neutral. Really? But has a buy on Cleveland-Cliffs (CLF) and raises price target to $44 from $37. Spotify (SPOT) shares rose nearly 4% in premarket trading after reaching agreement with Alphabet 's (GOOGL) Google. Darden (DRI) posts a big miss. The parent of Olive Garden reported quarterly earnings of $1.93 per share, versus $2.10 consensus estimate. Darden cuts fiscal-year 2022 EPS estimate to $7.30-$7.45 from $7.35-$7.60 ... consensus $7.50. The dollar is on fire and will hurt next quarter for businesses selling into foreign markets. Lululemon (LULU) price target lowered to $410 from $453 at Deutsche Bank, cites air freight issues. Truist raised price to $675 from $600 for Palo Alto (PANW), cites heightened threat environment. Evercore says DoorDash (DASH) continues to lead ... they like Uber better, saying shares to double. Bank of America reiterates Uber as a buy, says demand growth is still positive despite rising gas prices ... yellow taxis now part of fleet. Snap — adds AR puzzle? Acquires neurotech company NextMind ... spectacles, wearable headband — knows something about your brain. Logitech (LOGI) growth at a reasonable price ... initiated with a buy at Bank of America. Rivian Automotive (RIVN) price target lowered to $95 from $100 at Mizuho, "modestly" adjusts near-term ramp expectations given supply challenges. Bigger second half 2022 delivery ramp. BlackRock's Larry Fink says Russia's invasion of Ukraine has put an end to the globalization we have experienced since the end of the Cold War. Longer term I believe recent events will actually accelerate the shift toward greener sources of energy Durable goods down 2.2% in February. Boeing (BA) brought it down. Trade group Airlines for America says it's time to sunset masks on planes. Jobless claims 187,000, lowest since 1969—way too many job openings versus workers. (Jim Cramer's Charitable Trust is long BA, GOOGL, NUE. 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.

Canada's Prime Minister Justin Trudeau, US President Joe Biden, Germany's Chancellor Olaf Scholz, British Prime Minister Boris Johnson, and France's President Emmanuel Macron pose for a G7 leaders' family photograph during a NATO summit at the alliance's headquarters in Brussels on March 24, 2022.

Michael Kappeler | AFP | Getty Images

What I am looking at March 24, 2022

De facto tightening continues with bonds adjusting to the new world ... 20-year bond issuance yielding 2.68%. Still relentless rise in interest rates, which is very negative for stocks. But West Texas oil is down. Stock futures were up as NATO leaders met in Brussels to discuss upping pressure on Russia.