What Cramer is watching Tuesday — Walmart disappoints, Home Depot beats, AMD gets an upgrade

Published Tue, May 17 20229:28 AM EDTUpdated Tue, May 17 20229:31 AM EDT

What I am looking at May 17, 2022 Home Depot (HD) earnings results were better than expected at every line . Walmart (WMT) was nowhere near as good as Home Depot, as the nation's largest retailer missed on earnings for the fiscal first quarter. Inflation, higher inventory and overstaffing put pressure on margins . The company increased sales guidance for the year, but lowers profit expectations. Good demand on higher price items. Pathetic, pathetic: Why didn't management preannounce? They are clueless. What a waste of a slot in our Trust. Advanced Micro Devices (AMD) upgraded by Piper Sandler analyst Harsh Kumar to a buy, says the negative story — slowing PC market and lack of near-term earnings growth from the Xilinx deal — is not playing out as expected. I expect a lot of accretion from the XLNX deal. Weber (WEBR) price target lowered to $8 from $12 at Citi, after quarterly miss on sales and earnings. Baird cuts price target for eyewear company Warby Parker (WRBY) to $30 from $40. Not a big miss on earnings, but a miss nonetheless. Citi drops PT to $29 from $41. Johnson & Johnson (JNJ) target trimmed to $205 from $210 at Citi, says market multiples are contracting. Take-Two Interactive (TTWO) price target cut to $185 from $220 at Barclays ... quarterly results were not perfect but good enough ... analyst stays overweight. The video game marker is on Mad Money tonight. Palo Alto Networks (PANW) PT lowered to $610 from $729 at KeyBanc, but still overweight. Deutsche Bank takes price target on the cybersecurity company to $587 from $605. Edwards Lifesciences (EW) gets weird call at Citi ... analyst lowers price target to $115 from $134 on slowing growth, headwinds, rising interests rates, but keeps a buy rating on shares of medical device maker. Zimmer Biomet (ZBH) PT dropped to $125 from $135 at Citi ... again, multiples are contracting. United Airlines (UAL) preannounces, raising its current-quarter revenue forecast, saying it expects busiest summer since 2019. Shares jumped nearly 5% in the premarket. Molson Coors (TAP) downgraded to hold from a buy at Bernstein, notes European recovery has largely played out. Shares downgraded because of relative outperformance this year compared to the S & P 500, but company is doing everything right. Input cost pressures still loom for 2023. Shipping company J.B. Hunt (JBHT) initiated with a buy at Benchmark. Analyst says intermodal pricing set to grow. Workday (WDAY) downgraded to hold from buy at UBS on risk of weakening macro environment. Analyst worried about back-office HR/fins delays in the event of a downturn. UWM Holdings (UWMC) downgraded to hold at Wedbush, says the mortgage market is turning out weaker than anything he had expected going into 2022. Challenges for the rest of 2022 warrant a more cautious view ... Bristol-Myers (BMY) price target raised to $70 from $65, stays equal weight. Boeing (BA): JPMorgan says don't worry about China Southern removing the 737 Max from its fleet plans … Boeing's management should resign. KeyBanc reiterates a buy on Apple (AAPL), says biggest risk in the fiscal third quarter is from China and supply shortages. I think they miss big in China. Rivian Automotive (RIVN) doesn't have the parts to do the shift. American Express (AXP) — solid momentum continues into April. Loan growth and credit ahead of expectations. (Jim Cramer's Charitable Trust is long AMD, APPL, WMT. 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.

Doug McMillon, president and CEO of Walmart Inc. Corporation, participates in a Business Roundtable discussion on the"Future of Work in an Era of Automation and Artificial Intelligence", during a CEO Innovation Summit, on December 6, 2018 in Washington, DC.

Mark Wilson | Getty Images

What I am looking at May 17, 2022

Home Depot (HD) earnings results were better than expected at every line.
Walmart (WMT) was nowhere near as good as Home Depot, as the nation's largest retailer missed on earnings for the fiscal first quarter. Inflation, higher inventory and overstaffing put pressure on margins. The company increased sales guidance for the year, but lowers profit expectations. Good demand on higher price items. Pathetic, pathetic: Why didn't management preannounce? They are clueless. What a waste of a slot in our Trust.