Here's our plan for FedEx Freight's stock heading into its first earnings call
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CNBC Finance
3 min read
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. 1. Stocks were volatile Thursday as investors weighed another blockbuster quarter from Micron against the negative impact that surging memory-chip prices will have on the companies buying them. Micron jumped over 13% after reporting better-than-expected earnings and guidance, lifting its peers in the memory-and-storage complex like Sandisk and Western Digital . However, those gains were offset by weakness in major tech names including Apple , Amazon , Microsoft , Alphabet , and Meta â all companies that need to pay up for memory. Apple fell nearly 5% after raising prices for several MacBook and iPad models to offset rising memory costs, sparking some concern about potential demand destruction. Meanwhile, the personal consumption expenditures price index â the Federal Reserve's preferred inflation gauge â came in largely in line with expectations, helping push the benchmark 10-year Treasury yield lower . 2. Shares of Club holding Intel fell 2% Thursday. Goldman Sachs initiated coverage of the stock with a neutral rating and a $150 price target, implying roughly 14% upside from Wednesday's close. Director of Portfolio Analysis Jeff Marks said the report reinforces the Club's long-term investment thesis, highlighting Intel's opportunity to benefit from both the rise of agentic AI and growing demand for U.S.-based chip manufacturing. He pointed to the company's nascent foundry business â particularly its advanced packaging capabilities â as well as the increasing role CPUs are expected to play as AI workloads shift from training to inference. While Goldman favors fellow Club names Nvidia and Broadcom , as well as AMD , among large-cap chipmakers, Jeff noted Intel has outperformed several of those peers in recent weeks. 3. Club holding FedEx Freight reports earnings Thursday evening. However, we've already seen the better-than-expected numbers for the three months ended in May because they were included in former parent FedEx's release on Tuesday night. FedEx Freight only became independent on June 1 . With that in mind, Jeff said investors should focus less on the headline numbers and more on what management says on the conference call about freight demand and its plans to improve profit margins. Because this is FedEx Freight's first earnings release as a standalone company, Jeff expects some noise around all the moving parts. If that creates a pullback in the stock, the Club would view it as a buying opportunity â just as we did Wednesday with FedEx following its earnings report. (Jim Cramer's Charitable Trust is long AAPL, AMZN, AVGO, FDXF, GOOGL, INTC, META, MSFT, NVDA. See here for a full list of the stocks.) As a subscriber to the 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 a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
