Every weekday, the CNBC Investing Club hosts a “Morning Meeting” live stream with Jim Cramer at 10:20 am ET. Here’s a recap of Monday’s key moments. Health Care & Staples Leads Market Quick Mentions: META, DIS, SBUX 1. Health Care & Consumer Staples Leads Stocks rose on Monday, with health care & staples stocks taking the lead. Club names Constellation Brands (STZ), Eli Lilly (LLY), Johnson & Johnson (JNJ) were all up, with LLY even making a new 52-week high. Jim Cramer said STZ and LLY are currently his favorite stocks in the Club portfolio. We like these stocks in a recessionary environment as they sell all the products that people buy even during tougher economic times. We also believe that these companies’ headwinds are turning into tailwinds as raw material costs fall while sales and prices remain strong. 2. Brief mentions: META, DIS, SBUX Meta (META) investor Altimeter Capital issued an open letter Monday urging CEO Mark Zuckerberg to reduce staffing costs, limit its investments in the Metaverse, and reduce its annual capital expenditures. While we believe the points Altimeter made in the letter are reasonable, we still have faith in Zuckerberg. Additionally, the investments that Meta is making, such as in artificial intelligence and the Metaverse, are long-term bets that will take a while to bear fruit. We remain bullish on the stock and believe the Metaverse in particular will be a big deal. Wells Fargo and UBS Evidence Lab both recently wrote positively about Disney (DIS) stock, with the former calling it a signature pick and UBS highlighting the company’s strength in theme parks and growth in streaming subscribers. We like Disney and believe this is the early stages of a comeback. We also still like Starbucks (SBUX), which is one of our stocks that has sizeable operations in China. We believe SBUX could be better isolated from potential business restrictions from the country as its stores employ local workers. We plan to increase our position if the stock rises to $82. Shares of the coffee conglomerate fell 5.7% to $83.54 on Monday. (Jim Cramer’s Charitable Trust is Long STZ, LLY, JNJ, DIS, SBUX, META. For a full list of stocks click here.) As a subscriber to 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 any stock in his charitable foundation’s portfolio. When Jim spoke about a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS GOVERNED BY OUR TERMS AND CONDITIONS AND PRIVACY POLICY ALONG WITH OUR DISCLAIMER. NO OBLIGATION OR OBLIGATION SHALL BE OR CREATED BY YOUR RECEIVING OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.
We like well being and staples, membership names within the information
