What Cramer is watching Monday — Musk takes big Twitter stake and Starbucks axes buybacks

Published Mon, Apr 4 20229:22 AM EDT

What I am looking at April 4, 2022 JPMorgan (JPM) CEO Jamie Dimon hit the usual issues in his annual shareholder letter: supply chain challenges, inflation could get worse, economic damage for war in Ukraine, fintech is strong, big merger wave. I think this is static. The U.S. is rebounding post-Covid-19. Piper Sandler is "firmly overweight" Tesla (TSLA) after good first-quarter numbers. The EV maker delivered 310,000 vehicles versus Sandler's estimate of 294,000. Tesla was up 1% in premarket trading. Tesla CEO Elon Musk purchased a giant stake in Twitter (TWTR) that makes him the largest outside shareholder in the social media stock. Musk owns a 9.2% stake. Free speech. TWTR up over 20% Hologic (HOLX) downgraded to hold from a buy at Evercore. Analyst says upgrade last year based on improved sales growth for the medical products maker is played out. Chip shortage and supply chain not improving. Spotify (SPOT) price target lowered to $185 from $275 at UBS, cites heightened political headwinds. Barclays lowers price targets slightly for MasterCard (MA) and Visa (V) but reiterates overweight ratings for both stocks. Typical call: price target was too high because of bear market. Goldman Sachs' David Kostin: Many times an inverted yield curve is a time to buy not sell. Wells Fargo upgrades Ollie's Bargain Outlet (OLLI) to buy from hold—looks for room to run amid excess inventory. Price target hiked to $65 from $45. I am a member of Ollie's Army and this is long overdue. Need some fresh inventory. Crocs (CROX) downgraded to hold from buy at Loop Capital. Analyst says investor sentiment on stock "changed materially" for this pandemic name. Shares "fairly valued." Constellation Brands (STZ) price target lowered to $294 from $299 at Morgan Stanley. Analyst Dara Mohsenian keeps buy rating ahead of earnings report April 7, calls it his "top pick." Software firm Okta (OKTA) price target lowered to $175 from $235 at Wells Fargo. Management discussed recent security breach with investors but said too early to tell impact ... top growth name. Semiconductor company TSMC named a "catalyst driven idea" at Morgan Stanley, expects first-quarter guidance to beat Street consensus despite semi inventory correction concerns. Logitech (LOGI) raised to buy from hold at Goldman Sachs. Gaming and video-conferencing trends underpin strong growth for the software company. Goldman is positive on JPMorgan and negative on Wells Fargo (WFC) and Morgan Stanley (MS) —man do I disagree with this. Wells no Europe exposure ... Morgan Stanley with E-trade to benefit from return of individual investor. Barclays lowers price target to $155 from $170 for 3M (MMM), sees demand headwinds. Starbucks (SBUX) interim CEO Howard Schultz suspends buybacks; vows to invest more profit into our people and our stores, "the only way to create long-term value for all stakeholders." (Jim Cramer's Charitable Trust is long MA, MS, WFC. 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.

Former Chairman and CEO of Starbucks, Howard Schultz, speaks during the presentation of his book 'From The Ground Up' on January 28, 2019 in New York City.

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