What I look forward to on August 2, 2022 Is the oil gone? I thought it had staying power here, but the cartographer who called the WTI peak around $110 a barrel on “crazy money,” says Carly Garner, now says the next stop is the $85 to $80 range. West Texas Intermediate crude is below $94 a barrel on Tuesday morning after dropping nearly 5% in the previous session. Pinterest (PINS), what does activist firm Elliott Management want? PINS jumps 18% in pre-market due to strong user numbers reported after the bell, despite disappointing quarterly results and guidance. More than 433 million banners. $2.7 billion in cash and cash equivalents and $13 billion in market capitalization. New CEO Bill Reddy is from fintech PayPal (PYPL). Could Elliott want to merge the two as he did before PayPal collapsed? Advertising increased by 25% year on year. Monthly active users are down 5% year over year. Quarterly revenue increased 9%. You need payments and not just advertising because the readers are commercial. “It aligns with our vision,” says Reddy Elliott. Shopping opportunities. Susquehanna has been promoted to buy from hold (positive from neutral) on the new CEO and activist. Citi and Barclays are strengthening their price targets. Uber (UBER) posts 13% in primary market after posting $382 million in free cash flow, positive free cash flow for the first time ever. Uber beats revenue: $8.07 billion versus the $7.39 billion forecast. Net loss of $2.6 billion for the second quarter, 65% of which resulted from investments and revaluations of stakes in Aurora, Grab and Zomato. Dow Caterpillar (CAT) stock fell 3.5% in the primary market after missing quarterly revenue: $14.25 billion versus the $14.37 billion forecast. EPS won: $3.18 for $3.01. Sees improvement in operating profit. Marriott International (MAR): Quarterly earnings per share: $1.80 versus $1.56, outperforming better-than-expected revenue of $5.34 billion. Nearly 17,000 rooms were added globally during the second quarter. The full-year EPS guidance range is $6.33 to $6.59, up from the $6.02 estimate. Very good of course. Teladoc (TDOC) shares rose nearly 2%: Quinn cut the market’s outperformance rating from outperform (wait on buy). Cloud company Arista Networks (ANET) reports a really clean quarter. Price targets raised by Wall Street firms. CEO Jayshree Ullal on ‘Mad Money’ tonight. Activision Blizzard (ATVI) misses a slight every three months. But buying Club Holding Microsoft (MSFT), it may not matter. DuPont win (DD) earnings per share: 88 cents versus expected 85 cents. But the forecast is pessimistic. Everyone prepares for Colgate (CL): Barclays raised its target price to $74 per share from $71. Organic sales growth is better than expected. Agricultural machinery maker AGCO Corp. says: (AGCO) The tightness of raw materials and semiconductors is beginning to decline. The supply chain is improving. The problem is not the grain. BMO recommends Club name Constellation Brands (STZ) – a beer, wine and spirits giant – with an outperform (buy) rating and $290 per share target. That would be 20% higher than Monday’s close. Peer evaluation discount. Mizuho raises its target price on On Semiconductor (ON) to $72 per share from $68. I thought the quarterly results were great. Morgan Stanley and Susquehanna also promoted PT. (Jim Cramer’s Charitable Trust Long MSFT and STZ. See here for a full list of stocks.) As a subscriber to the CNBC Investment Club with Jim Cramer, you’ll 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 fund 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, along with our disclaimer. No fiduciary obligation or duty will be created, or be created, by virtue of your receipt of any information provided in connection with the Investment Club. There are no specific results or guaranteed profit.
Pumps are seen working in the Montebello oil field in Montebello, California. Oil prices fell on Tuesday, extending losses from the previous session, as investors worried about global oil demand after weak manufacturing data in several countries.
Frederick J. Brown | Afp | Getty Images
What I look forward to on August 2, 2022
Is the oil gone? I thought it had staying power here, but the cartographer who called the WTI peak around $110 a barrel on “crazy money,” says Carly Garner, now says the next stop is the $85 to $80 range. West Texas Intermediate crude is below $94 a barrel on Tuesday morning after dropping nearly 5% in the previous session.
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