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 Tuesday’s key moments. Buy JNJ while it is in the red. Wait to buy Danaher. Wait to buy AMD. 1. Buy JNJ while it is in minus estimates. The stock doesn’t deserve to be down, especially considering the company’s 2023 earnings outlook came in higher than expected. J&J’s only real weakness for the quarter was its medical technology segment, which was held back by the Covid-19 lockdowns in China. The declines suggest a broader trend of investors exiting healthcare stocks this year, reversing from 2022. It’s a shift we don’t support. Instead, we urge investors to buy shares of this quality company while it has fallen out of favor. 2. Buy Danaher Danaher (DHR) on Tuesday reported strong fourth-quarter earnings but called a weaker-than-expected forecast, sending the stock down almost 3% in morning trade. The company announced the quarter ahead of time, so the earnings hit was already burned into the stock. Danaher, whose businesses span life sciences, diagnostics and environmental solutions, continues to expect its core sales to grow by a high single-digit percentage point this year. We remain bullish on the stock. Investors should buy Danaher if the stock continues to fall, by at least 5% today. 3. Hold to buy AMD Bernstein downgraded Advanced Micro Devices (AMD) to market perform or neutral from outperform on Tuesday, citing concerns about a deteriorating PC market. That comes a day after Barclays upgraded the semiconductor maker to overweight or bought it of equal weight. Amid the competing calls, we’re advising investors to hold off on buying AMD as the stock is likely to continue to be battered for months to come. (Jim Cramer’s Charitable Trust is Long AMD, JNJ, DHR. For a full list of stocks click here.) As a subscriber to 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 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 INVESTMENT CLUB INFORMATION IS GOVERNED BY OUR TERMS AND CONDITIONS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO OBLIGATION OR OBLIGATION SHALL BE OR CREATED BY YOUR RECEIVING OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.
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