Cramer is 'chipping away' at troubled stocks in the Club portfolio

Published Mon, Jul 24 202311:34 AM EDT

Kevin Stankiewicz @in/kevin-stankiewicz-b5593466 @kevin_stank

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. Stocks rise Trimming J & J Adding to the Bullpen 1. Stocks rise All three major U.S. stock benchmarks were in the green Monday, led by the Dow Jones Industrial Average , which is seeking its 11th consecutive positive session. Chevron (CVX) and Goldman Sachs (GS) were among the biggest winners in the 30-stock Dow. The gains Monday kick off a busy week for Wall Street, featuring earnings from more than 150 companies in the S & P 500 — including nine Club holdings — and an interest-rate decision from the Federal Reserve on Wednesday. The Fed is widely expected to raise rates by 25 basis points. 2. Trimming J & J We sold 125 shares of Johnson & Johnson (JNJ) early Monday, taking advantage of the health-care stock's recent surge to reduce our exposure to a company that still faces significant legal challenges . Jim Cramer said this is part of a strategy to "chip away" at troubled stocks in the portfolio. "I have very little faith" in J & J's plan to fight its talc-related lawsuits, Jim added. J & J shares climbed 7% late last week after the company reported a strong second quarter and built on those gains Monday morning. "Only a fool would say, 'You know, what I'm not going to sell anything,'" Jim said. 3. Adding to the Bullpen DuPont (DD) has entered the Bullpen , a watch-list of stocks the Club considers for addition to Jim's Charitable Trust. DuPont, which we've owned before, is back on our radar amid Wall Street's broadening rally. Over the past month, shares of the chemicals company have rallied more than 10%. However, DuPont's stock still looks attractively valued, based on a recent sum-of-the-parts analysis conducted by JPMorgan. The last time we owned DuPont was January 2022. (Jim Cramer's Charitable Trust is long JNJ. 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.