CNBC Investing Club with Jim Cramer Holds Morning Meeting Livestream
The CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream every weekday at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments.
1. U.S. stocks edged up in midmorning trading Tuesday, with the S & P 500 gaining 0.36% and the Nasdaq Composite climbing nearly 1% on the back of technology stocks. Datadog’s quarterly beat and guidance raise lifted enterprise software names like Club holdings Salesforce, Microsoft, and Oracle. Meanwhile, bond yields moved lower, with the 10-year Treasury hovering just above 4.5%, and oil prices tumbled more than 3%, with West Texas Intermediate crude trading around $78 a barrel.
2. Barclays raised its price target on Club holding Constellation Brands to $293 a share, up from $280, while maintaining an overweight rating on the stock. The firm argued that Constellation is shifting to be an operator from a builder, focusing on improving efficiencies across the business. Shares were trading up 0.45%, at roughly $242.60 apiece.
3. Club holding Coterra Energy reported strong quarterly results on Monday, while delivering better-than-expected free cash flow. The company also increased its full-year production guidance while leaving its capital expenditure outlook unchanged, signaling greater capital efficiency. However, Club name Emerson Electric missed analysts’ expectations for its fiscal fourth quarter.
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