My top 10 things to watch Wednesday, June 4 1. The Federal Reserve is lifting the $1.95 trillion asset cap imposed on Club name Wells Fargo since February 2018 for past misdeeds, including its cross-selling scandal of the 2010s. Great news for shareholders . The cap had limited the bank’s growth for years. Several Wall Street firms lifted their price targets, including Morgan Stanley, Piper Sandler, and Evercore ISI. 2. CrowdStrike ‘s quarterly report Monday was fine , but multiple analysts downgraded the cybersecurity name after a big run. We raised our price target on the Club stock after some post-earnings selling. More like Okta and Palo Alto than Zscaler . 3. Goldman Sachs upgraded Yum! Brands — the parent company of KFC, Taco Bell and Pizza Hut — to buy from neutral, citing the restaurant stock’s superior growth trajectory versus peers. This is a big call, as anti-U.S. enmity may have passed. 4. President Donald Trump on Wednesday said it’s “extremely hard” to make a deal with China’s Xi Jinping. Once again hopes dashed for a call this week between the world’s two largest economies to ease rising trade tensions. 5. Amazon price target raised to $240 from $225 at JPMorgan. The firm cut its estimates and multiples for the Club stock and other internet stocks after Trump’s “Liberation Day,” but is reversing course after better-than-expected Q1 earnings and guidance. It also raised Meta Platforms to $735 from $675. 6. Honeywell price target raised to $265 from $242 at Citi, which cited resilience of its automation division despite uncertain macro environment. I prefer aerospace, but it is good to see Emerson Electric and Rockwell Automation upped, too. 7. Big call: Apple downgraded to hold from buy at Needham, citing near-term threats to the company’s revenue and earnings growth, including AI innovations that threaten its iOS devices. 8. Dollar General price target raised to $112 from $101 at Citi, after the discount retailer reporting Q1 earnings beat and raised its full-year guidance. Excellent risk-reward. Oppenheimer upgraded stock to buy from hold. 9. Snowflake upgraded to buy from hold at UBS, said stock still has room to run despite being up 35% year to date, based on industry checks and recent results. The firm praised Palantir and Databricks, too. 10. Warner Bros. Discovery shareholders voted against the 2024 pay packages for CEO David Zaslav and other top execs, Reuters reported . Zaslav’s total compensation rose 4% in 2024 to $51.9 million. 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.
