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Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream weekdays at 10:20 a.m. ET. A recap of Tuesday’s big moments. 1. U.S. stocks fell on Tuesday after the Dow hit a record close earlier in the week. Investors were digesting the quarterly profits of four Dow 30 stocks. Shares in Procter & Gamble, the club’s namesake, rose more than 4% after the club announced better-than-expected results. P&G’s post-earnings conference call was generally positive. We will present a detailed earnings analysis later. Monitor your text message and email inboxes. Another good sign is that Verizon stock soared 5.5% in quarterly results. The main laggards in the Dow were 3M and Johnson & Johnson, which fell about 10% and 2%, respectively, after disappointing releases. 2. Wall Street just issued another bullish call on club stock Microsoft. Morgan Stanley analysts raised their price target to $450 per share from $415, saying the tech giant’s generative artificial intelligence products will help it gain market share in 2024. We also believe that these products, along with our cloud computing division Azure, are an important part of Microsoft. Long-term growth prospects. Morgan Stanley, which maintained its Buy rating, said its January CIO survey showed 68% of companies plan to use Microsoft’s AI solutions over the next year. Jim Cramer explained the sentiment of the memo Tuesday as telling investors, “If you don’t own Microsoft, you don’t know what you’re doing in the stock market.” 3. JPMorgan analysts lowered their price target on Starbucks from $110 to $108 per share, but maintained a Buy equivalent rating. Ahead of Starbucks’ January 30 earnings report, analysts acknowledged that the company could miss out on comparable sales. But improving Starbucks’ profitability could help protect its profits, they said. Wells Fargo echoed this view, adding that the poor performance is already priced into the stock price. Jim said there was little doubt that Starbucks’ quarter would be disappointing, especially against the backdrop of a weakened China and protests at company-owned stores over the Israel-Gaza war. The question is whether stock prices have fallen enough. (Jim Cramer’s charitable trusts are Long PG, MSFT, and SBUX. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, before Jim makes a trade Receive trading alerts. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
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