This industrial gets an upgrade but is 'not managed the way I like,' Jim Cramer says

Published Tue, Aug 22 202311:09 AM 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 Tuesday's key moments. Equities seesaw Watch Emerson Electric Earnings on deck 1. Equities seesaw with market oversold Stocks were mixed Tuesday morning, with the S & P 500 down 0.08% and the Nasdaq Composite up 0.09%. Bond yields were mainly flat, with that of the 10-year Treasury hovering around 4.3%. Oil prices edged lower, with West Texas Intermediate crude trading just under $80 a barrel. Meanwhile, the S & P 500 Short Range Oscillator moved into deeply oversold territory Monday after the close, at minus 6.19%, indicating it's time to look for more buying opportunities. We did just that Tuesday morning, scooping up 25 shares of Danaher (DHR). 2. Watch Emerson Electric JPMorgan on Tuesday upgraded Emerson Electric (EMR) to overweight, or buy, form hold. The firm also increased its price target on the Club industrial name to $107 a share, up from $83. "After a decade-long rolling reset, visibility around positive earnings revisions is now as good as it's been since the 2003-2008 super cycle," analysts at JPMorgan wrote in a research note, adding that Emerson "should be close to a final round of mostly dilutive portfolio moves." Still, Jim Cramer said Tuesday that the company is "not managed the way I like it to be." In April, Jim had said Emerson paid too high a price for National Instruments (NATI). 3. Earnings on deck Club name Foot Locker (FL) reports quarterly results Wednesday before the opening bell. Investors should expect some of the same challenges seen at Dick's Sporting Goods (DKS), which reported a 23% drop in profits on Tuesday. We'll be looking for any commentary from CEO Mary Dillon on the next stage of the sports retailer's turnaround plan . Meanwhile, Club holding Nvidia (NVDA) also reports Wednesday , after the closing bell, with Wall Street's expectations high. Jim said Tuesday that Nvidia is a "very good story," but cautioned that "this is not the be-all-end-all quarter." (Jim Cramer's Charitable Trust is long DRH, EMR, FL, NVDA. 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.