The Club’s top 10 things to watch in the stock market Friday
Top 10 things to watch on Friday, July 10 1. S&P futures are flat Friday morning, but the broad-based index remains on track for weekly gains. Stocks rose Thursday after President Donald Trump said Iran was calling for a deal. Although the United States says it remains committed to finding a solution to the conflict, oil prices remain a bit high. Treasury yields were relatively unchanged. 2. Chip stocks are taking a breather as the market makes room for South Korean memory chip giant SK Hynix, which will begin trading on Nasdaq on Friday. Jim Cramer said Thursday that the debut will offer U.S. investors a new way to bet on the AI boom, but he also warned of significant risks. 3. Delta Air Lines took the top and bottom line in the second quarter, with adjusted EPS of $1.56 versus $1.48 and revenue of $17.67 billion versus the $17.53 billion expected. Delta said Friday that it expects sales growth in the mid-teens for the current (third) quarter and adjusted EPS of $2.50 to $2.04, compared to estimates of $2.04, and maintained its full-year outlook. Delta appeals to high-income customers in the K-shaped economy, CEO ED Bastian told CNBC that demand remains strong. The stock fell 3 percent premarket. 4. KeyBanc raised its price target on Meta Platforms to $790 from $760 and maintained its buy rating. The analyst said Meta became the firm’s preferred megacap name in the second half of the year thanks to new products that show its AI strategy is working. While the market is divided over Meta’s AI roadmap, shares rose on Thursday after the social media giant announced a major update to its Muse Spark AI model and offered pricing details. 5. JPMorgan initiated coverage of Club shares Honeywell Aerospace with a hold rating and a $255 price target. We recently shared our rating, price target and outlook for the company, which was spun off from Honeywell in June. 6. Bank of America updated its price targets in its second-quarter drug preview. Abbvie fell from $234 to $276, Bristol Myers fell from $67 to $66, Johnson & Johnson fell from $254 to $263, Eli Lilly fell from $1,251 to $1,334, and Pfizer fell from $27 to $26. We wrote on Thursday about the impressive growth of Eli Lilly’s obesity drugs abroad; GLP-1 sales more than tripled in 2025 and again in the first quarter of 20267. BofA also reduced its PT on Procter & Gamble to $166 from $170 but maintained its buy rating. The company stated that overall P&G consumption increased in June compared to April and May, but estimates for fabric care products decreased. We held the stock as a hedge against a possible slowdown. 8. Stifel ups AMD’s PT from $450 to $635 and continues to buy; He stated that strong savings and capacity commitments support continuous growth. It also upgraded Intel from $75 to $120 but maintained its hold rating. We traded this chip stock earlier this week. 9. PepsiCo’s rating lowered its buy rating from Citi, which lowered its price target to $145 from $170 after weak earnings on Thursday. Citi is concerned about prolonged weakness in North America. Jim said Thursday that consumers are fed up with the company’s price increases. 10. Shopify moved from hold to purchase on Stifel. Analysts said there is a realistic path to revenue growth of more than 30 percent in 2026, and growth in the mid-20 percent range will be sustained in 2027 and beyond. Sign up for free for my Top 10 Morning Thoughts on the Market email newsletter (See here for a complete list of stocks in Jim Cramer’s Charitable Trust.) When you subscribe 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 trading alert before buying or selling a stock in his charitable foundation’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.
