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. Bullish on JNJ AMD Upgrades Disney Cost Cuts 1. Bullish on JNJ Johnson & Johnson (JNJ) is a quality and recession-resistant name that we strongly recommend for investors in this turbulent economic environment – and we think it could soar even higher , once the company completes the spin-off of its consumer health unit next year. “The number one name to own in our portfolio for 2023 could very well be JNJ due to the hiatus,” Jim Cramer said Monday. 2. AMD UBS and Baird upgrades, Advanced Micro Devices (AMD) both made available for purchase earlier this week. UBS expressed optimism about the company’s PC business over the next year, while Baird said a strong performance by the company’s news chip, Genoa, could help it capture more market share next year. We want to stay in the stock for a long time, but advise investors to wait for a pullback before increasing their positions. We recommend investors buy in if the stock falls below $73 per share. AMD’s stock rose 1.6% to $73.53 a share in morning trade. 3. Cost cuts at Disney Club holding Walt Disney Co. (DIS) plans to implement a hiring freeze and reduce headcount, according to an internal memo CEO Bob Chapek sent to department heads on Friday. However, we believe those moves don’t go far enough after the dismal fourth-quarter results Disney reported last week. However, we’re staying with the stock for now because we believe Disney maintains an excellent franchise despite lackluster leadership at the top. The stock is up 1.28% mid-morning to $96.23 a share. (Jim Cramer’s Charitable Trust is long AMD, DIS, JNJ. For a full list of stocks, click here.) As a subscriber to CNBC Investing 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 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.
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