What Cramer is watching Monday — SEC chair speaks, Pioneer CEO says no to Biden

Published Mon, Jun 27 20229:15 AM EDT

What I am looking at June 27, 2022 Gary Gensler, chairman of the Securities and Exchange Commission, on CNBC this morning ... Topics to discuss: crypto, Robinhood (HOOD), protection of investors, ESG (environmental, social and governance). Robinhood upgrade to neutral from sell at Goldman Sachs. Fundamentals are "still very weak," but now trading at $6.5 billion market cap versus its cash position of $6.2 billion and book value of $7 billion. Shares will remain range bound in near term with 19% upside over 12 months. Commerce Secretary Gina Raimondo on Mad Money tonight. Update on CHIPS for America Act passage? ( Raimondo has urged Congress to pass the bill, which aims to incentivize investment in U.S. semiconductor manufacturing as a national security issue. ) Pioneer Natural Resources (PXD) CEO Scott Sheffield says "no" to the Biden Administration request to increase oil production. The company is only going to grow at 5% and oil will stay over $100 for a long time, he told investors at JPMorgan conference last week. He said he was a firm believer that $100-$120 oil is not going to cause demand destruction, and that inventory will remain low over the next five years. Frontier Airlines (ULCC) CEO Barry Biffle was on "Squawk Box" on Monday after ultra-low cost carrier sweetened its bid for rival Spirit Airlines (SAVE). Spirit shareholders set to vote Thursday on Frontier and JetBlue (JBLU) offers. Needham downgrades Etsy (ETSY) to hold from buy as numbers are at risk. LyondellBasell (LYB) — Credit Suisse starts coverage with a sell. Cites end of cycle for basic chemicals. Darden (DRI) stared with a sell at Bank of America. Lots of price target cuts for the Olive Garden parent after it last week reported fourth-quarter earnings. It beat on top and bottom lines, but had a downbeat forecast. XPO Logistics (XPO) price target lowered to $75 from $80 at Barclays. Very bullish on the upcoming spin of XPO Brokerage. Ollie's Bargain Outlook (OLLI) upgrade to hold from sell at Goldman Sachs. Analyst sees an increase in closeout opportunities for merchandise in back half of year ... these deals can take three to six months to flow through channel. Goldman Saches upgrades Autozone (AZO) to buy from neutral — defensively positioned in current environment as parts non-discretionary. One of the best performers ever because of its buybacks. CarMax (KMX) is attractively valued for patient investors, says Baird. Tractor Supply (TSCO) price target lowered $207 from $260 at Goldman Sachs. Mister Car Wash (MCW) downgraded to sell from hold at Goldman Sachs. Warby Parker (WRBY) price target trimmed to $15 from $18 at Loop Capital. Goldman Sachs takes Coinbase (COIN) to sell from hold. Price target slashed to $45 from $70. "Substantial cuts needed" to stem the cash burn, fall in industry activity, fee rate compression. Petco (WOOF) price target lowered to $21 from $23 at Goldman Sachs. Bank of America starts Texas Roadhouse (TXRH) with a buy on achievable comps. Bed Bath & Beyond (BBBY) downgraded to hold from buy at B. Riley, cites lower store traffic, upcoming promo environment. Jefferies says Amazon (AMZN) remains King of Summer Sales with Prime Day (July 12 and 13 this year). Apple (AAPL) TV+ may have 20-40 million paying subscribers, says Bernstein. Streaming service is a powerful bundling vehicle. Morgan Stanley says Palo Alto (PANW) is the one for work from home. (Jim Cramer's Charitable Trust is long AMZN, AAPL, PXD. 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.

Gary Gensler, chairman of the Securities and Exchange Commission, at the SEC headquarters in Washington, on July 22, 2021.

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What I am looking at June 27, 2022

Gary Gensler, chairman of the Securities and Exchange Commission, on CNBC this morning ... Topics to discuss: crypto, Robinhood (HOOD), protection of investors, ESG (environmental, social and governance).
Robinhood upgrade to neutral from sell at Goldman Sachs. Fundamentals are "still very weak," but now trading at $6.5 billion market cap versus its cash position of $6.2 billion and book value of $7 billion. Shares will remain range bound in near term with 19% upside over 12 months.