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. Beware of Fed news We have reduced our position in COST Humana raises its forecast 1. Beware of Fed news Stocks fell on Thursday as the road awaits Friday’s important jobs report. This follows a rebound on Wednesday following comments from Federal Reserve Chair Jay Powell that the central bank could slow its pace of interest rate hikes as early as December. We remind investors to contain their excitement. While it’s good news that the central bank might loosen up, it also means its plan to hammer the economy is working. In other words, we urge investors to consider that some companies still may not meet their earnings estimates, rather than assuming everything is fine now. 2. We reduced our position in COST We sold 55 shares of Costco (COST) at around $523.80 on Thursday morning after the company reported November retail sales that showed signs of weakness on Wednesday. While global comparable sales for the month rose, the company missed its core results and posted a significant deceleration from October’s core increase. We still think Costco is a phenomenal retailer, but are more cautious if November heralds a significant sales decline. 3. Humana Raises Guidance Humana (HUM) on Thursday raised its 2023 membership guidance for its Medicare Advantage individual business and reiterated its 2022 adjusted earnings guidance. This news is notable as investors fear that managed care providers like Humana could hurt their earnings due to the heightened flu season. We continue to like the company and its stock. (Jim Cramer’s Charitable Trust is Long COST, HUM. For a full list of stocks, click here.) As a CNBC Investing Club subscriber 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.
Jim Cramer’s Investing Membership Conferences Thursday: Fed Warning, Humana Information
