Jim Cramer's top 10 things to watch in the stock market Wednesday

Published Wed, Apr 19 20239:28 AM EDTUpdated Wed, Apr 19 20231:06 PM EDT

My top 10 things to watch Wednesday, April 19 Editors note: Unfortunately, this email alert did not go out as scheduled before the opening bell on Wall Street as it normally does so we're sending it now. Club holding Morgan Stanley (MS) beat on first-quarter top and bottom lines. Earnings per share (EPS): $1.70 per share versus $1.62 Refinitiv estimate. Revenue of $14.52 billion versus $13.92 billion estimate. Morgan Stanley only missed on one small line item. But provision for credit losses $234 million versus $98.2 billion. Goldman Sachs (GS) controversial quarter defended by some but not by others after spotty quarter Tuesday. My central thesis remains that Goldman tried to be all things to all people, and it's not talking about how much money it costs to run Marcus, the Apple credit card, wealth management and yet have a monster investment banking and M & A apparatus that's not doing that well given the times. It's not the bank for the moment. The Dow , the S & P 500 and the Nasdaq open lower Wednesday, one day after a relatively flat session. Bond yields are up Wednesday. Oil prices are down. Tesla (TSLA) is the big after-the-bell earnings report. Late Tuesday, Netflix (NFLX) reported its quarter. Shares down badly initially but may have been still one more false tell from this earnings season. EPS: $2.88, two cents above estimates. $8.16 billion versus $8.18 billion expected. Netflix delayed rollout of its password-sharing crackdown. Wedbush adds to bet ideas list. UBS upgrades to buy. Bank of America raises Nvidia (NVDA) price target to $340 from $310. Keeps buy rating. Piper Sandler says the Club holding's suite of products will give it outsized and constant growth for ages. Piper reiterates its overweight (buy) rating and $300 per share PT. UBS starts oil services giant and Club holding Halliburton (HAL) with a buy rating and a $49 per share price target. The analysts have our two oil and natural gas exploration and production companies Pioneer Natural Resources (PXD) and Coterra Energy (CTRA) as neutrals with $238 per share and $27 per share price targets, respectively. Research analysts at Morgan Stanley raise their price target on Johnson & Johnson (JNJ) to $183 per share from $179. They say the issues that brought J & J down shares Tuesday after stellar earnings are not important. Club holding Apple (AAPL) earnings previews: JPMorgan raises price target on the stock to $190 per share from $175 ahead of quarterly results, set for release May 4. UBS likes Apple, too. But both firms with really tepid endorsements and nothing more. I don't like these as they are based on nothing. Walmart (WMT) upgraded to buy at Gordon Haskett. Traffic inflected. Increased wallet share. The analysts increase price target from $165 per share from $155. Mortgage applications to buy a home decreased 10% from the prior week on slight spike in rates. Applications to refinance dropped 6%. Average contracts for 30-year fixed-rate mortgages increased to 6.43% from 6.3%. (See here for a full list of the stocks from Jim Cramer's Charitable Trust.) 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.

My top 10 things to watch Wednesday, April 19

Editors note: Unfortunately, this email alert did not go out as scheduled before the opening bell on Wall Street as it normally does so we're sending it now.

Club holding Morgan Stanley (MS) beat on first-quarter top and bottom lines. Earnings per share (EPS): $1.70 per share versus $1.62 Refinitiv estimate. Revenue of $14.52 billion versus $13.92 billion estimate. Morgan Stanley only missed on one small line item. But provision for credit losses $234 million versus $98.2 billion.
Goldman Sachs (GS) controversial quarter defended by some but not by others after spotty quarter Tuesday. My central thesis remains that Goldman tried to be all things to all people, and it's not talking about how much money it costs to run Marcus, the Apple credit card, wealth management and yet have a monster investment banking and M&A apparatus that's not doing that well given the times. It's not the bank for the moment.
The Dow, the S&P 500 and the Nasdaq open lower Wednesday, one day after a relatively flat session. Bond yields are up Wednesday. Oil prices are down. Tesla (TSLA) is the big after-the-bell earnings report.
Late Tuesday, Netflix (NFLX) reported its quarter. Shares down badly initially but may have been still one more false tell from this earnings season. EPS: $2.88, two cents above estimates. $8.16 billion versus $8.18 billion expected. Netflix delayed rollout of its password-sharing crackdown. Wedbush adds to bet ideas list. UBS upgrades to buy.
Bank of America raises Nvidia (NVDA) price target to $340 from $310. Keeps buy rating. Piper Sandler says the Club holding's suite of products will give it outsized and constant growth for ages. Piper reiterates its overweight (buy) rating and $300 per share PT.
UBS starts oil services giant and Club holding Halliburton (HAL) with a buy rating and a $49 per share price target. The analysts have our two oil and natural gas exploration and production companies Pioneer Natural Resources (PXD) and Coterra Energy (CTRA) as neutrals with $238 per share and $27 per share price targets, respectively.
Research analysts at Morgan Stanley raise their price target on Johnson & Johnson (JNJ) to $183 per share from $179. They say the issues that brought J&J down shares Tuesday after stellar earnings are not important.
Club holding Apple (AAPL) earnings previews: JPMorgan raises price target on the stock to $190 per share from $175 ahead of quarterly results, set for release May 4. UBS likes Apple, too. But both firms with really tepid endorsements and nothing more. I don't like these as they are based on nothing.
Walmart (WMT) upgraded to buy at Gordon Haskett. Traffic inflected. Increased wallet share. The analysts increase price target from $165 per share from $155.
Mortgage applications to buy a home decreased 10% from the prior week on slight spike in rates. Applications to refinance dropped 6%. Average contracts for 30-year fixed-rate mortgages increased to 6.43% from 6.3%.

(See here for a full list of the stocks from Jim Cramer's Charitable Trust.)

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.