Jim Cramer suggests investors buy this bank stock here

Published Wed, Jul 26 202311:49 AM EDTUpdated Wed, Jul 26 202312:13 PM EDT

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 Wednesday's key moments. Review Big Tech earnings Buy Wells Fargo Watch GE Healthcare 1. Review Big Tech earnings Shares of Alphabet (GOOGL) climbed roughly 6% Wednesday morning on the back of a stellar second quarter and operating-margin expansion — though, we remain cautious on the stock's long-term upside given a regulatory overhang in the U.S. Meanwhile, fellow tech giant Microsoft (MSFT) also delivered a solid quarter Tuesday. But a softer revenue outlook and commentary around higher expenses for the new fiscal year sent shares tumbling more than 4% Wednesday. Jim Cramer said it's still too early for investors to scoop up MSFT shares and should wait until the stock falls around 5%. Elsewhere, Club name Meta Platforms (META) reports quarterly results after the bell Wednesday. 2. Buy Wells Fargo Shares of Wells Fargo (WFC) climbed 1.75% in midmorning trading, to over $46 apiece, after the bank announced a new $30 billion share-repurchase program that represents about 18% of the company's market capitalization. The bank also said its board of directors approved a previously announced dividend increase, to 35 cents a share, up from from 30 cents. Wells Fargo bought back $4 billion in stock last quarter, in a sign that the firm is well-capitalized. Jim said Wednesday he thinks the stock "actually should be up a little bit more" on the news, and suggested investors buy shares here. 3. Watch GE Healthcare Medical technology firm GE Healthcare Technologies (GEHC) delivered better-than-expected second-quarter results Tuesday, while raising its outlook for the full year. But investors on Wall Street did not reward the stock. Shares of GEHC have fallen more than 4% since Tuesday morning, to around $78 each. Jim spoke with CEO Peter Arduini about the results and the company's opportunity in Alzheimer's treatments, which should lead to future growth down the road. We plan to augment our small position in the stock when trading restrictions allow. (Jim Cramer's Charitable Trust is long GOOGL, MSFT, WFC, GEHC, META. 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.