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 Monday’s key moments. Healthcare and staples leading the market Quick mentions: META, DIS, SBUX 1. Health care and consumer staples leading the market Stocks gained on Monday, with health-care and staples stocks leading the charge. Club names Constellation Brands (STZ), Eli Lilly (LLY), Johnson & Johnson (JNJ) were all up, with LLY even notching a new 52-week high. Jim Cramer said that STZ and LLY are currently his favorite stocks in the Club portfolio. We like these stocks in a recessionary environment , since they all sell products that people tend to buy even in tougher economic times. We also believe that these companies’ headwinds are shifting into tailwinds, as commodity costs are going down while sales and prices remain strong. 2. Quick mentions: META, DIS, SBUX Meta (META) investor Altimeter Capital urged CEO Mark Zuckerberg in an open letter on Monday to reduce headcount expenses, limit its investment in the metaverse and bring down its annual capital expenditures. While we believe the points Altimeter made in the letter are reasonable, we still have faith in Zuckerberg. Moreover, the investments that Meta is making, for example in artificial intelligence and the metaverse, are long-term bets that will take a while to reap benefits. We remain bullish on the stock and believe the metaverse in particular is going to be a big deal. Wells Fargo and UBS Evidence Lab both wrote positively about Disney (DIS) stock recently, with the former naming it a signature pick and UBS highlighting the company’s theme parks strength and streaming subscriber growth. We like Disney and believe that it is the beginning stage of making a comeback. We also still like Starbucks (SBUX), which is among our stocks that have sizable operations in China. We believe that SBUX could be more insulated from potential business restrictions from the country, since its stores employ people local to the area. We plan to add to our position if the stock goes to $82. Shares of the coffee conglomerate were down 5.7% to $83.54 on Monday. (Jim Cramer’s Charitable Trust is long STZ, LLY, JNJ, DIS, SBUX, META. See here for a full list of the stocks.) As a subscriber to the 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 a stock in his charitable trust’s portfolio. If Jim has talked about a 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.
Source: https://www.cnbc.com/2022/10/24/2-takeaways-from-our-daily-meeting-we-like-health-care-and-staples-club-names-in-the-news.html