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What I am looking at, November 29, 2021:
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- Endless panic attacks will ultimately lead to ennui... omicron could give a scare that the vaccines don't work, giving people another reason not to take them without realizing that what they are really good for is cutting hospital time and deaths and with booster just hospital time... the foolishness of our unwillingness to end the tyranny of Covid and the sadness of fighting the same war over again... shutdown worries—which will most likely not to occur... Pfizer (PFE) and Moderna (MRNA) get bought...Pfizer with staying power... Don't be confused and do not panic...
- Black Friday... good or bad?... depends on the compares... not as good as 2019 when we weren't locked in...better than 2020, when we were... I have Shopify president on Mad Money tonight to talk about Cyber Monday...
- Interest rates up... that's the market's signal that the variant is not going to stop commerce or cause a lockdown...
- Deutsche Bank downgrades UPS... a Club name... given where we are going into the holidays and the pledge that CEO Carole Tome made on Mad Money that it would be bountiful for UPS shareholders this make no sense whatsoever...
- Allbirds (BIRD)... wall street initiates analyst coverage almost all as buys... will this break the spell of red hot IPOs that become disappointments all the way down?... Piper says very differentiated... Bank of America—robust growth with line of sight on profitability...JPMorgan's analyst Boss says neutral but attractive multi-year... Morgan Stanley says hold, but multi-year profitability unclear
- Affirm (AFRM) begun with a neutral at Piper Sandler... the stock, they say, has run too much... My view 'buy now, pay later' has destroyed literally tens of billions of dollars, for what?... They can all have buy now pay later... and I like the stock and management...
- Citi goes from buy to hold on Merck (MRK)... first time we are hearing of a loss of exclusivity for Keytruda, their blockbuster anti-cancer franchise... that's silly, expiry doesn't come until 2028... the anti-viral, though has been a big disappointment and we have to wonder if it just doesn't have enough in the pipe...
- TJX Companies (TJX) upgraded from neutral to buy at Citi...the love affair with TJX begins anew... they like Burlington Stores (BURL), too... Off-price is back?
- Oil... phony decline?... extreme selling and worry about weekend... sold out and bought back?
- Hatzius... economist whom I trust from Goldman... lays out some scenarios — 1. Downside: Omicron transmitted easily, evades immunity 2. Severe downside: severity and immunity worse than delta (less likely) 3. False alarm: spreads less quickly than delta no significant impact 4. Upside: slightly more transmissible but causes much less severe diseases... he is not making any changes to forecasts until scenarios become clearer
- Deere (DE)... price target raised from $375 to $398 at Deutsche Bank...says results messy, but outlook great
- Nordstrom (JWN)... price target lowered from $37 to $27 at D-Bank on weaker q...no value...
- JPMorgan says Apple (AAPL) lead times ease...but what the heck does that mean for the quarter? NOTHING
- Penn National (PENN)... DBank analyst Carlo Santarelli—noted Portnoy target—raises PT $31 to $38...but soft October…
- Union Pacific (UNP) PT raised from $261 to $270 at Dbank... says long held bullish stance on industry to continue, citing easy money and generous fiscal policies
- Pfizer price target raised to $53 from $42 at JPMorgan—clearly levered to covid—but keeps it as a hold
- Buy Marvell tech (MRVL)...JPMorgan takes target from $74 to $85... reports Thursday…analyst says near term remains strong, cloud center build up
- Disney (DIS)... really hard... Loop cuts PT, $205 to $190 citing too much spend on content... JPMorgan says the GOOD thing is more content spend, says buy
- Norwegian Cruise Line (NCLH)...is the only one that insists on vaccinations so it is the best bounceback..
- Gold refuses to move…
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(Jim Cramer's Charitable Trust is long UPS, AAPL, MRVL, UNP, AMZN, DIS.)
