My top 10 things to watch Friday, June 27 1. Has Nike reached the bottom? Last night’s earnings report was the most bullish CEO Elliott Hill has been since taking over in October. Inventories are winding down, so now they can play offense. Shares jumped more than 10% this morning. 2. The S & P 500 is on track to open in the range of a new intraday all-time high. A few trade headlines are helping sentiment, including Commerce Secretary Howard Lutnick saying the U.S.-China deal framework reached last month in Geneva has been finalized. Meanwhile, the Fed’s preferred inflation gauge came in hotter than expected on a core basis. 3. Rothschild & Co Redburn upgraded Boeing to a buy rating and took its price target to $275 a share from $180. CEO Kelly Ortberg is turning the planemaker around. Boeing is one of the 10 stocks in the Club’s Bullpen watchlist. 4. Google parent Alphabet landed an upgrade at Citizens JMP. Analysts, who took the stock to a buy-equivalent rating from market perform, argued that artificial intelligence is a net tailwind for the Google Search business. I’m not so sure. 5. Baird downgraded JPMorgan to an underperform sell rating from neutral, and took Bank of America to a neutral from an outperform rating. The firm doesn’t like the risk/reward profiles for the banking giants. We’ll get the latest results from the Federal Reserve stress tests after today’s close. We own Wells Fargo and Goldman for the Club. 6. Molson Coors was downgraded to a hold-equivalent rating at Bank of America. Analysts lowered their beer industry growth forecast to down 4% from down 1%, which will make it hard for Molson Coors to make its numbers. There’s been no comeback, none at all, when it comes to beer. 7. UBS said it’s time to buy McDonald’s after the stock’s 9% pullback over the past month. I like this call, but the winners within the restaurant cohort have been in casual dining. We own Texas Roadhouse for the Club. 8. Wells Fargo likes Toll Brothers , taking its price target on the luxury homebuilder to $130 from $125 and reiterating its overweight buy rating. However, analysts are wary of KB Home and kept an underweight sell rating. All the homebuilding stocks trade together, so I wouldn’t split the baby here. 9. Evercore upgraded digital ad firm Trade Desk to an outperform buy from hold, but maintained its $90 price target. While shares have come under pressure on competition fears, Evercore said execution is improving and so has the broader online ad market. 10. Wells Fargo upped its price target on video-game firm Roblox to $116 from $78 and stayed at an overweight buy. Shares closed yesterday at $105 apiece. It is a very strong story. 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.
