10 Things to Watch Friday, September 27 1. The S&P 500 was looking to open slightly higher on Friday after another record close. The 10-year Treasury yield finally fell after a weak August reading on the Fed's preferred measure of inflation, the Personal Consumption Expenditures Price Index. With just two trading days left in its historically worst month, the S&P 500 was on track for its first September gain in five years. 2. Shares of the club that holds Costco stock were slightly lower after its fiscal 2024 fourth-quarter earnings report Thursday night. The long-awaited membership fee increase for wholesale retailers, which took effect Sept. 1, will have limited impact through the end of fiscal 2025 and into fiscal 2026. We raised our price target on the stock, executives said. 3. Best Buy has been added to JPMorgan's Analyst Focus List after a meeting with the hardware and electronics retailer's management team. The analysts, who reiterated a $111 price target, called Best Buy a “valuable idea” to capitalize on the computer replacement cycle combined with growth in TV and appliance sales as existing home sales improve. This closely reflects the club's investment thesis. 4. The Food and Drug Administration has approved Bristol-Myers Squibb's drug Cobinfi for schizophrenia, the first new treatment for this disorder to be approved in seven decades. Shares of the New Jersey-based drug company rose more than 3% on the news. 5. Wynn Resorts was upgraded to a buy equivalent rating at Morgan Stanley. Analysts say the casino operator's shares could start to get a higher valuation thanks to stability in Las Vegas, more details about its project in the United Arab Emirates, and increasing capital returns. Wynn shares have struggled hard since the spring but have received a bid in recent days on Chinese stimulus news. The Chinese gaming center in Macau has been a thorn in Wen's side. 6. Citigroup downgraded Dollar General to sell from neutral and lowered its price target on the stock to $73 per share, which is about $14 lower than Thursday's close. Analysts have argued that Walmart is taking market share, making the dollar retailer's recovery more difficult. Jim Cramer blamed Walmart for Dollar General's ugly earnings report last month. 7. Deutsche Bank has resumed coverage of Dell Technologies with a buy rating and a price target of $144 per share. Analysts expect Dell's revenue growth to accelerate to double digits, due in part to growth in its AI server business; Expect its net profit growth rate to also reach double digits; and promoting a “clean and simple” capital return framework. 8. Be careful ahead of PepsiCo's earnings report on Oct. 8, according to Citigroup. Analysts put the stock on a 30-day negative stimulus watch, saying they expect operating sales growth to fail due to weakness in the soft drink and snack maker's North American business. 9. HP Inc. was downgraded. To a neutral hold equivalent of Buy at Bank of America as analysts expect the upside from its PC business to be offset by lower margins in its printer unit. HP shares fell on Friday. 10. Dan Ives of Wedbush Securities raised his price target on Salesforce to $325 per share from $315 after positive customer feedback at the software maker's Dreamforce conference. As we wrote earlier this week to club members, Salesforce's new AI offering has sent the stock flying. Sign up for Jim's Market's Top 10 Morning Ideas email newsletter for free (See here for a complete list of stocks in Jim Cramer's Charitable Trust.) As a subscriber to the 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 in his charitable fund's portfolio. If Jim talks 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, as well as our Disclaimer. No obligation or fiduciary duty exists or is created by your receipt of any information provided in connection with the Investment Club. No specific results or profits are guaranteed.
10 things to watch for on Friday, September 27
1. No Standard & Poor's 500 It was looking to open slightly higher on Friday after another record close. The 10-year Treasury yield finally fell after a weak August reading on the Fed's preferred measure of inflation, the Personal Consumption Expenditures Price Index. With just two trading days remaining in the worst month in history, the S&P 500 was on track for its first September gain in five years.
2. Club contract Costco Shares fell slightly after the fiscal 2024 fourth-quarter earnings report Thursday night. The long-awaited membership fee increase for wholesale retailers, which took effect Sept. 1, will have limited impact through the end of fiscal 2025 and into fiscal 2026. We raised our price target on the stock, executives said.
3. Best buy He was added to JPMorgan's analyst focus list after a meeting with the hardware and electronics retailer's management team. The analysts, who reiterated a $111 price target, called Best Buy a “valuable idea” to capitalize on the computer replacement cycle combined with growth in TV and appliance sales as existing home sales improve. This closely reflects the club's investment thesis.
