10 things to watch in the stock market Tuesday, including Oracle's pop and Southwest's drop

Published Tue, Mar 12 20249:08 AM EDT

Top 10 things to watch Tuesday, March 12 February's consumer price index came in a little warmer than expected, increasing 3.2% year over year versus 3.1% expected and above January's 3.1%. Core CPI, excluding food and energy prices, was up 3.8% year over year versus 3.7% expected but below January's 3.9%. Treasury yields bounce between green and red but U.S. stock hold on to early gains. Oracle puts together a solid quarter against very low expectations. The stock is up more than 12% Most numbers were in line but the market is keying on the 29% year-over-year growth in the remaining performance obligation (RPO), reflecting a significant increase from the prior two quarters. The company sees fiscal 2025 capital expenditures at $10 billion, up from $7.5 billion last year. Evercore says the selloff in Club name Apple is overdone. The analysts think the iPhone could accelerate its buyback program over the next few years; services acceleration is underappreciated; and artificial intelligence is on the edge to drive the next big upgrade cycle. Raymond James calls "uncle" and upgrades Coinbase to market perform from underperform (hold from sell). Bitcoi n is slightly lower after breaking above $72,000 on Monday. Southwest Airlines lowers first-quarter revenue per available seat miles (RASM) to flat to up 2% versus 2.5% to 4.5% previous and increases economic fuel costs per gallon estimate. Expects to receive fewer Boeing 737 Max aircraft this year. The stock falls roughly 8.5%. RBC initiates DexCom with an outperform rating and $165 price target. Great company but we prefer and own Abbott Laboratories in the diabetes device space because its other businesses provide diversification within health care. JPMorgan upgrades Dollar General to neutral from underweight (hold from sell) and hikes price target to $158 per share from $120. The analysts keep an overweight buy-equivalent on Dollar Tree and increase price target to $165 from $157 ahead of earnings this week. Kohl's reports Q4 adjusted earnings-per-share (EPS) of $1.67 versus $1.28 expected. But quarterly same-store sales fall 4.3%, missing estimates of a smaller 3% decline. The stock is down more than 3%. The department store chain sees 2024 adjusted EPS $2.10 to $2.70 versus $2.67 estimate. ON Holding delivers fourth quarter sales increase 22% but misses estimate of up 24%. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was better than expected. Shares of the athletic footwear and apparel company fall 13.5% on a slightly softer-than-expected sales outlook, hampered by foreign exchange headwinds. 3M CEO Mike Roman will transition to chairman, succeeded by William Brown effective May 1. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at 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.

Top 10 things to watch Tuesday, March 12

February's consumer price index came in a little warmer than expected, increasing 3.2% year over year versus 3.1% expected and above January's 3.1%. Core CPI, excluding food and energy prices, was up 3.8% year over year versus 3.7% expected but below January's 3.9%. Treasury yields bounce between green and red but U.S. stock hold on to early gains.
Oracle puts together a solid quarter against very low expectations. The stock is up more than 12% Most numbers were in line but the market is keying on the 29% year-over-year growth in the remaining performance obligation (RPO), reflecting a significant increase from the prior two quarters. The company sees fiscal 2025 capital expenditures at $10 billion, up from $7.5 billion last year.
Evercore says the selloff in Club name Apple is overdone. The analysts think the iPhone could accelerate its buyback program over the next few years; services acceleration is underappreciated; and artificial intelligence is on the edge to drive the next big upgrade cycle.
Raymond James calls "uncle" and upgrades Coinbase to market perform from underperform (hold from sell). Bitcoin is slightly lower after breaking above $72,000 on Monday.
Southwest Airlines lowers first-quarter revenue per available seat miles (RASM) to flat to up 2% versus 2.5% to 4.5% previous and increases economic fuel costs per gallon estimate. Expects to receive fewer Boeing 737 Max aircraft this year. The stock falls roughly 8.5%.
RBC initiates DexCom with an outperform rating and $165 price target. Great company but we prefer and own Abbott Laboratories in the diabetes device space because its other businesses provide diversification within health care.
JPMorgan upgrades Dollar General to neutral from underweight (hold from sell) and hikes price target to $158 per share from $120. The analysts keep an overweight buy-equivalent on Dollar Tree and increase price target to $165 from $157 ahead of earnings this week.
Kohl's reports Q4 adjusted earnings-per-share (EPS) of $1.67 versus $1.28 expected. But quarterly same-store sales fall 4.3%, missing estimates of a smaller 3% decline. The stock is down more than 3%. The department store chain sees 2024 adjusted EPS $2.10 to $2.70 versus $2.67 estimate.
ON Holding delivers fourth quarter sales increase 22% but misses estimate of up 24%. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was better than expected. Shares of the athletic footwear and apparel company fall 13.5% on a slightly softer-than-expected sales outlook, hampered by foreign exchange headwinds.
3M CEO Mike Roman will transition to chairman, succeeded by William Brown effective May 1.

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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.