Jim Cramer's top 10 things to watch in the stock market Tuesday
My top 10 things to watch Tuesday, Aug. 8 1. Club name Eli Lilly (LLY) delivers a big quarterly beat and guidance raise . Full-year adjusted earnings-per-share outlook: $9.70 to $9.90 versus prior guidance of $8.65 to $8.85 and above estimates of $8.73. Second-quarter beats: adjusted EPS $2.11 versus $1.98 expected and $8.31 billion versus $7.58 billion expected. Mounjaro, the company's Type 2 diabetes injection, waiting for weight loss approval; could be heart drug, too. CEO David Ricks on Tuesday evening's "Mad Money." Lilly shares soar nearly 11%. 2. Novo Nordisk (NVO) shares jump 15% after data showed the drugmakers' obesity treatment Wegovy cut the risk of heart attack or stroke by 20%. Never seen anything like it. Bodes well for Lilly's Mounjaro to see the same cardiovascular benefits. Also, some research suggests Mounjaro may be even more effective at reducing weight than Novo Nordisk's Wegovy and Ozempic. 3. The Dow , the S & P 500 and the Nasdaq are set for a lower open after Moody's credit agency cuts ratings on 10 regional banks in the U.S., including Capital One (COF), Citizens Financial (CFG) and Fifth Third Bancorp (FITB). It also put six other lenders, including Bank of New York Mellon (BK) and U.S. Bancorp (USB) under review for a potential downgrade. Club names Wells Fargo (WFC) and Morgan Stanley (MS), among the unaffected big banks, are down with the sector. 4. Regulators hit Wall Street banks with $549 million in penalties for record-keeping failures. Wells Fargo, the fourth biggest U.S. bank by assets, racked up the most, with a total of $200 million in fines. 5. Oil and natural gas producer Coterra Energy (CTRA) delivered mixed results after the closing bell Monday, with second-quarter sales missing expectations and profit outpacing estimates. However, what hit shares of the Club name by nearly 4% was a guidance miss at the core of why we own the stock in the first place. Here's our earnings analysis. Coterra's conference call is set for 10 a.m. ET. 6. Long knives are out on Wall Street for Palo Alto Networks (PANW). JPMorgan puts the leading cybersecurity firm and Club holding on negative catalyst. PANW has had a rough ride since a rival warned on outlook Friday. We used the selloff to upgrade Palo Alto to our 1 rating , meaning we would be buyers at the current price level. We've been restricted on this stock. 7. Wells Fargo research analysts increase Boeing (BA) price target to $275 per share from $250. Keeps overweight (buy) rating. I like this one. Boeing is the best way to play aerospace. Club name Honeywell (HON) is another way. But the stock has been lagging, down more than 11% in 2023, in a year that's seen the S & P 500 gained more than 17%. 8. Club name Amazon (AMZN) to meet with FTC next week ahead of a potential antitrust action. Good luck. Time for FTC Chair Lina Khan to move on. Background from Reuters : In 2017, she wrote a Yale Law Journal article "Amazon's Antitrust Paradox," which argued the traditional antitrust focus on price was inadequate to identify harms done by Amazon. 9. Oppenheimer raises price target on Walmart (WMT) to $175 per share from $165. Keeps outperform (buy) rating. The analysts see WMT doing well in a tough retail environment. Club name Costco (COST) makes sense in a slowdown. So does Club holding and off-price TJX Companies (TJX) as shoppers look for bargains. Bernstein likes TJX. 10. Bernstein increases Humana (HUM) price target to $599 per share from $568 after in-line quarter and guidance raise. The analysts keep market perform (hold) rating and also note strong Medicare Advantage. 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.

My top 10 things to watch Tuesday, Aug. 8