My Top 10 Things to Watch Tuesday, September 3 1. Wall Street is on track to start the week of holiday-shortened trading lower. Jobs data will be a key driver of action in the coming days, with the August non-farm payrolls report due out on Friday morning. The S&P 500 posted its fourth consecutive monthly gain in August despite a turbulent start to the month. 2. Goldman Sachs pulled Dollar General from its so-called Americans Doom List, while Barclays cut its price target on the stock to $102 from $154. Just a really bad situation for the discount retailer, which cut its full-year guidance last week. I think Walmart’s success is partly to blame for Dollar General’s struggles. 3. Wells Fargo downgraded Boeing to an equal-to-underweight rating. Analysts say Boeing’s free cash flow per share could peak by 2027 as plane development costs offset additional product growth and suggest the troubled company may need to do a reduced capital raise . It’s good to see analysts starting to address Boeing’s weaker cash flow problem. 4. According to Morgan Stanley, Alphabet’s shares could be limited due to uncertainty about legal remedies in the antitrust case that went against Google’s parent company last month. Analysts lowered their stock price target to $190 a share from $205 as a result, but kept their rating equal to buy. We own the Alphabet for CNBC’s Investment Club. 5. Fellow Club that owns Amazon had its price target raised at JMP Securities, rooted in analysts’ optimism about its advertising business. Amazon’s integrated advertising platform combined with its wealth of customer data is an attractive pair that should attract more marketing dollars than peers, analysts argued. 6. Crisis averted in MongoDB. Citi raised its price target on shares of the database software maker to $400 a share from $350 after raising its guidance late Thursday. Analysts argue that the earnings report showed that its first-quarter challenges, which caused the stock to crater in late May, were just a blip. 7. Redburn Atlantic raised its price target on the GE Healthcare club name to $105 per share from $90. Analysts say the company known for its MRI and CT machines is also benefiting from growing demand for radiopharmaceutical diagnostics. One of these products, Vizamyl, is used in the detection of brain plaques long associated with Alzheimer’s disease. 8. Jefferies cut Novartis price to hold from buy after 20% of pharma stock year-to-date. While analysts still like its long-term outlook, they believe it will take time next year for Novartis’ next batch of approvals and launches to grab investors’ attention. 9. Shares of Southwest Airlines are rising on a news punch or two. Activist investor Elliott Management now owns enough Southwest stock to call a special meeting, Reuters reported. Meanwhile, Evercore ISI upgraded the stock to a buy-equivalent rating, citing optimism about Southwest’s new revenue initiatives, among other reasons. 10. Volkswagen is considering closing factories in Germany for the first time in its nearly 90-year history. VW is facing increased competition in Europe from Chinese automakers and Tesla, and is looking to cut costs across the company in response. Sign up for my free email newsletter Top 10 Morning Thoughts on the Market (See here for a complete list of stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investment Club with Jim Cramer, you’ll receive an alert trader before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a share in his charitable trust portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY ALONG WITH OUR STATEMENT. NO OBLIGATION OR FIDUCIARY DUTIES EXIST, OR ARE CREATED BY VIRTUE OF YOUR RECEIVING ANY INFORMATION DIRECTED IN CONNECTION WITH THE INVESTOR CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
Top 10 things to watch on Tuesday, September 3
1. Wall Street is on track to start the week of holiday-shortened trading lower. Jobs data will be a key driver of action in the coming days, with the August non-farm payrolls report due out on Friday morning. The S&P 500 posted its fourth straight monthly gain in August despite a rocky start to the month.
2. Goldman Sachs withdrew Dollar General from the so-called Americans Doom List, while Barclays cut its stock price target to $102 from $154. Just a really bad situation for the discount retailer, which cut its full-year guidance last week. I think Walmart’s success is partly to blame for Dollar General’s struggles.
3. Wells Fargo sat down Boeing at a valuation equal to the underweight sale. Analysts say Boeing’s free cash flow per share could peak by 2027 as plane development costs offset additional product growth and suggest the troubled company may need to do a reduced capital raise . It’s good to see analysts starting to address Boeing’s weaker cash flow problem.