My top 10 things to watch for on Thursday, September 19: 1. Wall Street is expected to open sharply higher on Thursday, with the Nasdaq looking particularly strong. Perhaps the strength is a delayed reaction to the Federal Reserve’s half-percentage-point rate cut on Wednesday. Stocks fluctuated after the central bank’s announcement and ended the session lower. 2. Bank of America raised price targets on homebuilders including Toll Brothers, Pulte, KB Home and Lennar. Analysts cited the benefits of lower borrowing costs. BofA maintained buy ratings on Toll and Pulte and maintained neutral ratings on KB Home and Lennar. 3. T-Mobile CEO Mike Sievert told me that iPhone 16 preorder sales are ahead of last year’s model. On “Mad Money” on Wednesday, Sievert said early polls showing lower-than-expected demand for the new models are completely at odds with what he’s seeing. Club-name Apple’s AI-enabled iPhone 16 will hit stores on Friday. 4. JPMorgan raised its price target on T-Mobile to $230 a share from $220 and maintained its buy rating. The analysts cited rising sales. Oppenheimer raised its price target to $215 and maintained its buy rating. Analysts attending T-Mobile’s investor day grew more positive on the stock. 5. Lisa Su, CEO of Advanced Micro Devices, told me on “Mad Money” on Wednesday that there is currently a lot of demand for all of her company’s chips, especially the AI chips. Su said she sees many years of upgrades and increasingly powerful chips needed. 6. KeyBanc said Salesforce will invest a lot of money in Agentforce and it will pay off. Analysts described it as a whole new way of embracing AI. Barclays said Agentforce will also be huge. Remember, Salesforce has all the data. 7. Stifel cut its price target on Micron to $135 per share from $165 but maintained its buy rating. TD Cowen, which also maintained a buy, cut its price target even further to $115. Those levels are still much higher than the stock’s Wednesday closing price of just over $87. Analysts expect next week’s earnings to disappoint. 8. Evercore ISI removed CrowdStrike from its Tactical Underperform list. Analysts maintained their buy rating and a $325 price target. They said long-term investors could be opportunistic. We own rival cybersecurity company Palo Alto Networks. 9. Bernstein cut its price target on Nike to $109 per share from $112 and maintained its outperform buy rating. The analysts cited concerns they’ve heard from former Nike executives. On and Adidas, New Balance, even Decker Outdoor’s Asics and Hoka and VF Corp’s Vans are taking stakes. 10. JPMorgan raised its price target on Carmax to $65 per share from $55 but maintained its underweight sell rating. The new price target is still below Wednesday’s closing price of $77. The analysts cited improving fundamentals but still considered the stock’s risk-reward unattractive because of stretched multiples. Sign up for my free email newsletter, “Top 10 Morning Thoughts on the Market” (you can find a full list of Jim Cramer’s Charitable Trust stocks here). As a subscriber to CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock from his charitable foundation’s portfolio. If Jim has discussed a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE INFORMATION REGARDING INVESTING CLUB PROVIDED ABOVE IS SUBJECT TO OUR TERMS OF SERVICE AND PRIVACY POLICY AND OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR OBLIGATION IS PROVIDED OR CREATED BY RECEIVING INFORMATION RELATED TO INVESTING CLUB. NO PARTICULAR RESULT OR PROFIT IS GUARANTEED.
Mike Sievert, CEO of T-Mobile, speaks during an interview with CNBC on the trading floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 27, 2022.
Brendan McDermid | Reuters
My top 10 things to watch on Thursday, September 19
1. Wall Street is expected to open sharply higher on Thursday, with the Nasdaq looking particularly strong. Perhaps the strength is a delayed reaction to the US Federal Reserve’s half-percentage-point interest rate cut on Wednesday. Stock prices fluctuated after the Fed’s announcement and ended the session lower.
2. Bank of America raised price targets for homebuilders, including Toll Brothers, Desks, KB homepageAnd Lennar. Analysts cited the benefits of lower borrowing costs. BofA maintained buy ratings on Toll and Pulte and neutral ratings on KB Home and Lennar.
3.T-Mobile CEO Mike Sievert told me that iPhone 16 pre-order numbers are ahead of last year’s model. On “Mad Money” on Wednesday, Sievert said that early polls suggesting demand for the new models is lower than expected are completely wrong about what he is actually seeing. Clubname’s AI-enabled iPhone 16 Apple will be in stores on Friday.
