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What I am looking at November 23, 2021:
- Market theories: ultimate short squeeze in semis and tech ended yesterday at mid-morning?... S&P 500 got too cheap?... or don't overthink it... we were up too much and now profit-taking?... or seasonably strong and you have to buy the non-tech weakness: J&J (JNJ), UPS (UPS), Morgan Stanley (MS), Centene (CNC).. you want low-multiple as the sell-off was about selling high multiple...
- Traeger (COOK)...a reminder of a good ipo gone flat as the newer companies, the ones that came public during the heyday, can't go up anymore... this one is a premium grill company with supply chain woes... there are dozens of companies that have come public that nobody wants or knows what to do with... the only upside is that they go private again... or get bought...
- Urban Outfitters (URBN)... was it as bad as people say?... I don't know, it looks like only flagship was bad... but it is a testament to how the whole group moved up... still this one is at 10x...
- I have Gap (GPS) and HP (HPQ) on Mad Money tonight...GPS historically cheap... HPQ at 8x with 3% yield, another cheap stock in a market widely considered too expensive...
- WTI now down to $75 but stocks aren't falling... Is the decline artificial from the release of reserves?... That's what the stocks are saying... Biden is coordinating a release... he has asked Japan China, India, South Korea... but the problem is US production which has not kept pace with global development...
- Zoom Video (ZM)... Piper goes from $369 to $299 but keeps overweight... analyst says upside is missing and coming from wrong accounts-small and medium sized business... churn shows sustainability? I am not sure... I liked the quarter but there is a relentless bias against this name as it needed to make a deal and didn't... Should it have paid up for Five9? I think so
- Micron (MU)... price target raised from $75 to $95 Mizuho... what a run this one has had, without any fanfare... yet it has been the backbone of the move... when will Intel (INTC) catch up with the rest of the stocks?
- Nextdoor (KIND)... analyst Mahaney at Evercore ISI starts with a buy and a $16 target... CEO Sarah Friar "start up" of Nextdoor... diversified value proposition
- Piper says Bank of America (BAC) has ample room to grow and takes it from $50 to $53... no respect?... needs rate hike is all people ever say... trying to profitably build share take... people are tired of share take, they want growth.
- Marvell (MRVL)...unsung tech here like ON... this one taken by Oppenheimer from $75 PT to $100...analyst says has both high performance computing and 5g... all bases covered
- Dicks (DKS)... 12% comp and raises full year forecast... E-commerce 13% goes to 19%
- Bumble (BMBL)... upside to adds, time to buy says Evercore ISI... after 27% pullback.
- Citi highly skeptical that Coke would walk away from Monster (MNST)... questions if deal is coming
- Samsung building $17 billion foundry chip factory in Texas…
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(Jim Cramer's Charitable Trust is long UPS, MS, MRVL.)