The Club's top 10 things to watch in the stock market Friday
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CNBC Finance
4 min read
The Club's 10 things to watch Friday, June 26 â Today's newsletter was written by Jeff Marks, the Club's director of portfolio analysis. 1. Stock futures are lower this morning, led by declines in semiconductor names. If the S & P 500 and Nasdaq end the session in the red, both indexes will have fallen every day this week. 2. SpaceX is considering launching a Starlink mobile service for U.S. consumers and may build its own U.S. mobile network, according to the Financial Times . Starlink is one of our favorite parts of Elon Musk's space and AI company, accounting for the bulk of its revenue growth and every penny of its earnings before interest, taxes, depreciation and amortization. 3. OpenAI is considering delaying its initial public offering until 2027, according to a New York Times report . Some cited reasons were the pop and drop in SpaceX after its IPO and some general choppy trading in AI stocks. The ChatGPT creator has already submitted a confidential IPO filing to U.S. regulators. 4. On Semiconductor has agreed to buy Synaptics in an all-stock deal valued at an enterprise value of $7 billion. The company says the combination will accelerate its evolution toward global leadership in intelligent systems for physical AI. On Semi is a big player in the automotive chip space. 5. Club name FedEx Freight delivered a solid earnings report in its final quarter as part of FedEx Corporation. As we told Club members last night , now it's time to drive its margin initiatives. Still some confusion without full financials. But thankfully, the trucking cycle is improving in the background. Bank of America raised its price target to $187 from $185, implying 18% upside from yesterday's close. 6. Another downgrade of Nike ahead of earnings next week. KeyBanc took the disappointing Club stock to hold from buy on the longer-than-expected turnaround, especially in China. We're giving Nike one more quarter to show us whether we should stick around in the name. 7. Club name Boeing received $3.62 billion worth of freight jet orders from China Southern Airlines. The deal is for two 777F and five 777-8F planes, with the option to purchase three more 777-8F aircrafts. Boeing shares are basically flat this morning. 8. Honeywell Aerospace was initiated with an outperform rating and $300 price target at RBC Capital ahead of its separation from Honeywell International on Monday. Aerospace's when-issued trading line closed at $221 yesterday, so the price target represents roughly 36% upside. We've been waiting for this spin-off for ages and are excited to get shares thanks to our Honeywell position. 9. Morgan Stanley said Apple's price hikes to offset rising memory and storage prices came earlier than expected and at the high end of expectations. That's why the stock yesterday suffered its biggest single day drop since April 2025. But if demand remains relatively inelastic â and Morgan Stanley said history is on Apple's side due to its ecosystem â then the hikes will drive upside to their revenue and earnings estimates. 10. TD Cowen transferred coverage in the alcoholic beverage space. The new analyst team put buy ratings on Modelo brewer Constellation Brands and Johnnie Walker and Guinness owner Diageo . They went with a neutral on Brown-Forman , which owns Jack Daniel's. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) 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.
