— Today’s newsletter was written by Investing Club Director of Portfolio Analysis Jeff Marks.

1. Wall Street expects a higher opening on Thursday, led by rising technology stocks after memory chip maker micron delivered a better-than-expected quarter and positive guidance. Micron shares rose 18%. Chinese stocks rallied again – this time on signs that the Chinese government is ready to complement the central bank’s monetary stimulus with fiscal stimulus this week. The comments from China supported global markets.

2. Micron said it was sold out of high-bandwidth memory for calendar years 2024 and 2025. Personal computers are expected to have a better second half of 2025 as PCs with artificial intelligence gain momentum. Growth in Micron’s smartphone division is expected to continue in 2025. Jim Cramer said on X: “If you bought Micron last Friday on our recommendation from our (Mad Money) game plan, I wouldn’t sell it. That was a prediction for every company in 2025. It also validates the prospects of AMD and NVDA.” NVIDIA And Advanced micro devices are club shares.

3. Starbucks was upgraded to an “outperform buy” rating at Bernstein. Even after the 27 percent increase in share price since Brian Niccols was appointed CEO, analysts believe that the valuation of the club’s stock “does not fully reflect the earnings potential that Starbucks could unlock.” Starbucks also benefited from the Chinese government’s economic stimulus packages.

4. GE Healthcare was downgraded to “sell” by UBS due to concerns about increasing competition from Chinese rivals. Analysts’ pessimism appears to be overdone. The company has a strong relationship with China and has been manufacturing there for 30 years. Stimulus packages for healthcare in China have been slow to implement, weighing on the club’s own MRI machine maker. Here’s our overview of the China exposure of all 32 of our portfolio stocks.

5. Bank of America increased its Meta-platforms to $630 per share from $563, up 10% from Wednesday’s closing price. JPMorgan raised its price target on Meta to $640. The new bullish comment followed the company’s showcase of wearable devices at its Connect 2024 product and developer conference. CEO Mark Zuckerberg showed off prototypes of AR glasses that received rave reviews, including a seal of approval from Nvidia CEO Jensen Huang.

6. Southwest Airlines raised its third-quarter forecast and announced a $2.5 billion share buyback program and other changes at its investor day on Thursday. The airline is taking the steps in its fight against activist investor group Elliott Management.

7. Truist has started First Solar and power play GE Vernova with purchase recommendations. For the club, our solar and renewable game Next rascalwhose technology ensures that the solar modules are always facing the sun. We also have Eaton as an opportunity to benefit from the growing complexity of energy infrastructure in the age of artificial intelligence.

8. Jefferies Financial fell on a quarterly profit and revenue decline. The results offered an early glimpse into investment banking and capital markets activity ahead of major banks, including club names Wells Fargo And Morgan StanleyReport in a few weeks. Jefferies said IB was strong and capital markets were only slightly down compared to difficult benchmarks.

9. JPMorgan increased its DraftKings price target from $48 to $54 per share and maintained its overweight buy rating. The analysts said positive comments on online betting and iGaming platform Flutter EntertainmentCapital Markets Day is good news for DraftKings. Flutter is the parent company of FanDuel.

10. Hershey was downgraded to underperform by analysts at Jefferies due to concerns about chocolate snacks. The analysts said that “everyday chocolate is being purchased less frequently, especially by low-income consumers” because prices are so high.

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