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 Tuesday’s key moments. Stocks edge down Bad news for Disney Watch Oracle 1. Stocks edge down Equities were mainly lower Tuesday morning, with the S & P 500 and Nasdaq Composite both down around 0.3%. Energy was the only sector meaningfully higher, with oil prices climbing on the back of Saudi Arabia’s decision to extend production cuts by 1 million barrels of oil a day. West Texas Intermediate crude — the U.S. oil benchmark — soared nearly 2%, to above $87 a barrel. Meanwhile, the U.S. dollar was at its highest level since March and U.S. Treasury yields were rising, as the market continued to weigh the Labor Department’s monthly employment report . 2. Bad news for Disney The ongoing carriage dispute between Charter Communications (CHTR) and Club holding Walt Disney (DIS) is bad news for both companies. And the stakes are high right now, with the ongoing U.S. Open and the start of football season. A permanent shutdown of Disney-owned networks on Charter’s cable platforms could result in a hit of about 2% to 3% of Disney’s revenues, while denting total company earnings before interest, taxes, depreciation and amortization (EBITDA) by 6% to 10%, according to JPMorgan. 3. Watch Oracle Barclays on Tuesday upgraded Club name Oracle (ORCL) to overweight, from equal weight, while raising its price target on the stock to $150 a share, up from $126. “We see a multi-year opportunity for solid growth at high margins driven by an ongoing positive mix,” Barclays analysts wrote in a research note. The software firm’s valuation is still only at 20 times calendar-year 2024 earnings, leaving room for a continued re-rating of the multiple, the analysts argued. (Jim Cramer’s Charitable Trust is long DIS, ORCL. 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.
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