The Club's top 10 things to watch in the stock market Friday
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The Club's top 10 things to watch in the stock market Friday Published Fri, May 22 20269:19 AM EDTUpdated 25 Min Ago Jeff Marks@jeffmarkscnbc The Club's top 10 things to watch Friday, May 22 — Today's newsletter was written by Jeff Marks, the Club's director of portfolio analysis. 1. Stocks are poised to extend yesterday's gains. Oil is slightly higher on Iran war peace deal uncertainty, but bond yields are not following the similar patten and are lower. Stocks have recently struggled to rally in the face of higher yields. 2. Big earnings mover: Workday is up over 7% after the enterprise software vendor reported a top and bottom-line beat and raised its full-year margin outlook. Co-founder Aneel Bhusri is back as CEO and is arguing that their AI strategy is working. 3. Deckers Outdoor posted better-than-expected sales and provided full-year guidance above Wall Street expectations. Hoka sales were up 14.5% in the quarter. Ugg was up 9.2%. The stock is off about 2.5%. BTIG called it a solid quarter but kept its hold rating. 4. Shares of Take-Two Interactive are rallying over 3% after the video-game publisher reaffirmed that Grand Theft Auto VI will be out this November. It's faced a series of delays and been over a decade since the last GTA was released. 5. Ross Stores followed Club name TJX Companies with a strong beat and raise of its own. Comparable store sales were up 17% in the quarter. Off-price retail is where to be when the consumer is strained. TJX showed that on Wednesday. 6. Estee Lauder is jumping over 11% this morning after merger talks with Spanish beauty company Puig were terminated. The market punished EL shares in March when takeover reports surfaced. The concern was that buying Puig would add complexity to Estee Lauder's organic turnaround efforts. 7. Walmart was added to JPMorgan's "analyst focus list" after falling 7% yesterday in reaction to earnings. KeyBanc said that despite Walmart's weak guidance, they believe the retailer is primed to gain additional market share in grocery and general merchandise and offset rising fuel costs. 8. BJ's Wholesale shares are down less than 1% after reporting adjusted earnings of $1.10 versus $1.03 expected. Revenues were better than expected, too. Reaffirmed full-year outlook. For the Club, we've owned rival Costco for years. Costco reports next week. 9. Zoom Communication is up over 7% after a top and bottom beat and full-year guidance raise. KeyBanc upgraded the stock to a hold from sell, with analysts saying Zoom has delivered better margin expansion and steadier performance than they expected. 10. Steelmaker Nucor was initiated with a buy rating and $270 price target at Barclays. The stock has been a winner this year, up almost 40%. Reported a strong quarter at the end of April thanks to steel mill volumes and margins. 4 more things on our radar 11. Loop Capital started American Express with a buy rating and $389 price target. We prefer Capital One but the whole group has been tough to own this year. 12. Chipmaker Marvell Technology's price target was raised to $210 from $140 at Stifel, while Wells Fargo upped its PT on server maker Dell to $270 from $180. Both beneficiaries of the AI trade report earnings next week. 13. Nvidia remains an essential AI stock to own in our eyes. Club portfolio analyst Zev Fima drove that point home in a piece for members yesterday . The sellers aren't fully appreciating what Nvidia's next leg of growth will likely be. 14. Elon Musk's SpaceX delayed a test flight of its experimental Starship reusable rocket. Plans to try again today. We own two winners from SpaceX's planned IPO: Goldman Sachs , which is the lead bank on the deal , and the lesser-known Linde , which supplies gases used in rocket launches and satellites. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) 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.More In Jim's Top 10Jim Cramer's top 10 things to watch in the stock market ThursdayJim CramerJim Cramer's top 10 things to watch in the stock market WednesdayJim CramerJim Cramer's top 10 things