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 Thursday’s key moments. Remain cautious Buy Eli Lilly Meta needs more cost cuts 1. Remain cautious Shares rose on Thursday on new data showing that the US economy grew 2.9% in the fourth quarter, in line with analysts’ forecasts was ahead. The S&P 500 was up 0.32% in midday trade. At the same time, the S&P 500 Short Range Oscillator was up 4.9%, showing that the market was less overbought than last week. Despite these positive indicators, we continue to advise investors to exercise caution when adding to their portfolios given the ongoing uncertainty about the development of the equity markets. 2. Buy Eli Lilly We are recommending investors to buy Eli Lilly (LLY) as the stock declined slightly on Thursday. Shares of the drug company traded down about 0.5% to $347.96 a share. JPMorgan Chase again called Eli Lilly a “hot idea” Wednesday ahead of fourth-quarter results on Feb. 2. The bank expects 2023 to be a “catalyst year” for the company, with several drugs in the pipeline and pending approval, including Mounjaro, a diabetes drug used to treat obesity. 3. Meta needs further cost cuts Piper Sandler said Wednesday that Meta Platforms’ (META) 2023 operating and capital expenditures could come in below expectations, which would boost the company’s earnings and free cash flow. It’s a promising development for the struggling tech stock, given that investors were primarily frustrated by Meta’s overspending. But while the company has taken steps to contain costs, including laying off 11,000 employees late last year, CEO Mark Zuckerberg needs to do more to manage expenses for the stock to make a full comeback. Meta stock was up more than 3% on Wednesday to $145.87 a share. (Jim Cramer’s Charitable Trust is Long LLY, META. For a full list of shares, click here.) As a CNBC Investing Club subscriber 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.
Jim Cramer’s Investing Membership Assembly on Thursday: Shares up, Eli Lilly
