Every weekday, the CNBC Investing Club hosts a “Morning Meeting” live stream with Jim Cramer at 10:20 am ET. Here’s a recap of Thursday’s key moments. Book Gains Among Big Winners Emerson Caught Up Humana shares stabilize at 1. Book Gains Among Big Winners Wall Street rose on Thursday, led by a rise of over 350 points, or about 1%, in the Dow Jones Industrial Average. The S&P 500 and Nasdaq each rose nearly 1% to hit intraday highs more than a year ago. The gains for all three equity benchmarks come a day after the Federal Reserve left interest rates unchanged at its June monetary policy meeting but hinted that two more rate hikes could come later this year. As the market rally continues, we think it wise for investors to book profits on any big winners they own. In our monthly meeting on Wednesday, Jim Cramer explained why there is nothing wrong with not being greedy. 2. Emerson gets an upgrade Emerson Electric (EMR) is a “completely transformed pure-play automation company,” HSBC analysts said in a note to clients on Thursday. The company upgraded the club’s holding to a buy from a hold, while raising its price target by $21 per share to $100. HSBC’s call is not necessarily based on new information. Still, investors appeared to be reacting positively on Thursday, with Emerson shares up more than 2% in early trade. Prior to Thursday’s meeting, Emerson and our other industrial holdings including Caterpillar (CAT) had already begun to show signs of life. 3. Humana shares stabilize on Thursday. Humana (HUM) shares stabilized Thursday after a brutal 11% sell-off on Wednesday sparked by competitor UnitedHealth (UNH)’s warning of higher medical costs due to a surge in elective surgeries among seniors. Humana was up 1.5% Thursday to around $460 a share. While we took advantage of Wednesday’s weakness to buy additional shares, we hope to hear back from Humana soon — even if it’s just to confirm full-year guidance, as the company did on June 1. In a note to clients Wednesday night, Credit Suisse analysts said Humana is expected to meet with investors in New York City next week and may have an update by then. We think that’s a reasonable decision. (Jim Cramer’s Charitable Trust is long-established. A full list of shares can be found here.) As a subscriber to CNBC Investing Club with Jim Cramer, you’ll receive trade alerts before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling any stock in his charitable foundation’s portfolio. When Jim spoke about a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, ALONG WITH OUR DISCLAIMER. THE RECEIVING OF YOUR INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB SHALL HAVE NO FOCUS OBLIGATION OR DUTY. NO PARTICULAR RESULTS OR PROFITS ARE GUARANTEED.
Comments are closed.