Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Healthcare and banks The Club’s bank stocks JNJ, PG, DHR report next week 1. Healthcare and banks On Friday morning, Jim Cramer said the Club stands by our decision to trim our position in semiconductors amid signs of worsening inflation. “I’m seeing latest leadership on this market. Not the semis, now not the large cap tech stocks. I’m seeing healthcare, and I’m seeing banks,” Jim said. Stocks slid on Friday after a consumer survey from the University of Michigan showed inflation expectations are increasing . The S & P 500 was down 1.58%, following a short-lived rally Thursday afternoon that saw the index close up nearly 3%. We had cautioned against chasing Thursday’s rally, and that advice proved to be sound. 2. The Club’s bank stocks Morgan Stanley (MS) missed on expectations for earnings and revenue when the bank released third-quarter results Friday, driven by a decline in investment banking. Morgan Stanley’s stock was down greater than 4% Friday, at roughly $75.9 a share — near the extent where we might consider buying more shares. Wells Fargo (WFC), meanwhile, beat on earnings and revenue Friday, but said its third-quarter profits were dented by a call to accumulate loan-loss reserves. We consider that that is the bank stock to purchase, especially given the numerous upside in its net interest income resulting from higher rates of interest. Wells Fargo’s stock was trading up roughly 3.6% Friday, at $43.9 a share. 3. JNJ, PG, DHR to report next week Listed below are some quick takes on three Club names reporting earnings next week: We consider Johnson & Johnson ‘s (JNJ) third-quarter earnings will exhibit the preparation for its split and won’t reveal any surprises, which is nice news for investors. J & J is about to report on Tuesday. Investors are anxious in regards to the strong impact of the U.S. dollar on Procter & Gamble (PG). But when the buyer goods group reports fiscal first-quarter results on Wednesday, we hope that declining commodities- and transportation costs can have proven to be a tailwind. We expect the stock, which was trading down Friday by nearly 1%, at $125.17 a share, will move higher. We’re looking forward to hearing from Danaher (DHR), which reports third-quarter results on Thursday. The conglomerate in September announced plans to spin off its Environmental & Applied Solutions segment , while guiding for higher core revenue growth for the third quarter. (Jim Cramer’s Charitable Trust is long DHR, HUM, JNJ, MS, PG, WFC. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked a couple of stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Oura reaches $11 billion valuation with latest $900 million fundraise
Oura said Tuesday that it raised over $900 million in a brand new Series E funding round, bringing the corporate's...
