Cramer says Boeing is a buy here
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- Stocks were higher Friday, with Big Tech leading the rebound on AI trade momentum.
- Nvidia stock jumped nearly 3%, noted as trading cheaply for an AI chip leader.
- Broadcom, AMD, and Micron also saw gains.
- Nike shares dropped 9.5% after reporting solid earnings but disappointing guidance.
- Wells Fargo was highlighted for its performance under CEO Charlie Scharf, climbing in M&A league tables.
- The bank advised on high-profile deals, including Netflix's bid for Warner Brothers and Union Pacific's bid for Norfolk Southern.
- Financial stocks have performed well, leading to trimming of Capital One positions to lock in gains.
- Price targets were increased for Capital One, Goldman Sachs, and Wells Fargo.
- Boeing shares climbed after JPMorgan reiterated it as a top pick with an increased price target.
- Analysts suggest Boeing's growth path involves building and delivering more planes.
- Jim Cramer considers Boeing a long-term idea given travel strength and likes Friday's stock price for a buy.