What Cramer is watching Tuesday — Q3 stumble, crypto gutted, Tesla trepidation

Published Tue, Jul 5 20228:38 AM EDTUpdated Tue, Jul 5 20228:45 AM EDT

What I am looking at July 5, 2022 Another down day from another down quarter? Dollar way too strong. The Federal Reserve winning everywhere? Stocks fall on Day 2 of the third quarter on Wall Street. Market was closed Monday for July 4th holiday. HP Inc. (HPQ) downgraded to hold from buy (in line from outperform) at Evercore. Tesla (TSLA) price target trimmed to $385 per share from $395 at JPMorgan, which has hated it for ages. Missed production because of China. Wedbush says Tesla could deliver a bad number. Wedbush slashes Carvana (CVNA) price target to $50 per share from $90. Stock down 90% year to date, already trading in low $20s. UBS says Kohl's (KSS) ending review process is a significant negative. Baird price target goes to $42 per share from $53, but says attractive after 20% selloff. Citi goes to buy from neutral with AB InBev (BUD), says there is, at last, an investible case. If you believe that, buy Corona beer maker Constellation Brands (STZ), a Club name. Barclays takes Constellation price target to $281 per share from $272, says great quarter. JMP Securities starts Shopify (SHOP) with a hold (market perform). Major investment strategy. Excelerate Energy (EE) upgraded at Wells Fargo to buy from hold (overweight from equal weight). The solution to the European natural gas situation? Pinterest (PINS) price target goes to $20 per share from $24 at Barclays, sees "perfect storm" against internet; also Snap (SNAP) as well as Club names Alphabet (GOOGL) and Meta Platforms (META). Citi likes Club name Wynn Resorts (WYNN), says casino operator will see its way through the Covid crisis. Piper Sandler cuts Netflix (NFLX) price target to $210 per share from $293. Top hours declined 4%. Piper wonders, is management being reactive or proactive? Pretty damning for the whole group. Citi trims price target on Alibaba (BABA) to $172 per share from $176, says it reflects more realistic assumptions. Seagate (STX) price target at Benchmark goes to $93 per share from $100. Really reactive to Micron (MU). China's top three airlines ordered almost 300 Airbus jets. Crypto market value fell to $1 trillion from $3.2 trillion last quarter. Vauld, a crypto lender backed by Coinbase (COIN), has halted withdrawals and trading; had been offering up to 40% to lend out tokens; $200 million yanked out, crypto hedge fund Three Arrows hurt it. Voyager halted withdrawals. BlockFi saved by FTX for now. Three Arrows, which filed for Chapter 15 bankruptcy protection, also owned a ton of NFTs. Domino's Pizza (DPZ) price target increases to $383 per share from $380 at Deutsche Bank. Credit Suisse takes Club name Morgan Stanley (MS) to $95 per share from $100, but keeps a buy (outperform) rating. Walgreens Boots Alliance (WBA) price target at RBC Capital lowered to $42 per share from $46, sees difficult comp. Crocs (CROX) upgraded to buy from hold at Loop Capital, with price target of $75. (Jim Cramer's Charitable Trust is long STZ, GOOGL, META, WYNN and MS . 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.

Jim Cramer on Mad Money, June 14, 2022.

Scott Mlyn | CNBC

What I am looking at July 5, 2022

Another down day from another down quarter? Dollar way too strong. The Federal Reserve winning everywhere? Stocks fall on Day 2 of the third quarter on Wall Street. Market was closed Monday for July 4th holiday.

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