Every weekday, the CNBC Investing Club with Jim Cramer publishes Homestretch, a helpful afternoon update just in time for the final hour of trading on Wall Street. (We will no longer be recording audio, so we can get this new written feature to members as quickly as possible.) Markets Rebound: Stocks began the new trading week on a rising note, buoyed by the strength of mega-cap tech. actions ahead of Nvidia's GTC conference and reports that Apple may partner with Alphabet to bring the Gemini AI model to the iPhone. The report is easing concerns about Gemini's credibility and sending Alphabet shares to their highest levels since early February. Disney scores a victory: A top proxy advisor has weighed in on the Disney-Trian board battle. Glass Lewis said Monday that he recommends Disney shareholders vote for the company's director candidates and not the slate put forward by Trian's Nelson Peltz. Disney's annual meeting is April 3. Although Glass Lewis' decision is a potential setback to Trian's chances of getting enough votes to put Peltz and former Disney CFO Jay Rasulo on the board, Jim Cramer still sees the merits of this contest. “Disney's board is dysfunctional, but the stock is rising because of pressure from activists. The pressure is good. Nelson was valued as a board member at Procter & Gamble, Mondelez and Heinz. I don't understand the dislike. But stocks are going higher.” The return of the children: GE Healthcare rose again above $90 per share and has accumulated two positive sessions in a row. That's a good sign considering shares fell about 3.6% last Wednesday to $88.48 after General Electric announced it was selling 14 million shares through a second offering. “GE Healthcare has all but digested the GE block. The company works closely with Nvidia on AI. Nvidia mentions the company in its healthcare work,” Jim said. Stocks may also be getting a boost from signs that China has provided stimulus for hospital and educational equipment. Analysts at Evercore ISI wrote about this last Friday, noting that it should also boost life sciences tools companies like the Danaher club name. Another recovery in the making is DuPont, which needs to reach $74.69 to fully recoup all of its losses linked to a terrible previous announcement in January. The company's management team recently spoke at some investor conferences and noted that orders have increased by double digits from 8% when they reported. That order growth provides visibility into a quarter that will be the lowest for its Water and Protection business. But electronics is the best part of the company's growth story and perhaps this recent comeback is also due to the strength it is seeing there. Jim said, “DuPont must be seeing green shoots in the cell phone. Maybe Samsung.” Note that DuPont also has exposure to more advanced chips, with Taiwan Semiconductor Manufacturing being one of its key customers. Brief results: “Concerns about the impact of GLP-1 use in the beverage and snack group may be easing with PepsiCo's upgrade. It's a good sign for those who are worried about Constellation Brands, which has been a real horse of battle lately,” Jim said. Citi opened a “positive catalyst watch” on Constellation Brands last Wednesday. On the other hand, Jim said, “I'm looking at Cloudflare. They hired Stephanie Cohen, who's brilliant, from Goldman Sachs.” Cohen reportedly left the investment bank to become chief strategy officer at Cloudfare. Next up: At 4 p.m. ET, the focus will be on Nvidia CEO Jensen Huang. He is then expected to take the stage at the AI chip giant's annual GTC developer conference. While there is a lot of anticipation surrounding Jensen's upcoming keynote, Jim said, “There are better days to buy Nvidia than around GTC. Give it a break.” We can't wait for Jensen to sit down with Jim on “Squawk on the Street” on Tuesday and a two-part interview on “Mad Money” on Tuesday and Wednesday. (Jim Cramer's Charitable Trust is AAPL, GOOGL, DIS, GEHC, DD, STZ, NVDA. See here for a complete list of portfolio holdings.) As a subscriber to the CNBC Investing Club with Jim Cramer, he 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 fund'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 INVESTMENT 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 THE RECEIPT OF ANY INFORMATION PROVIDED IN RELATION TO THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR BENEFITS ARE GUARANTEED.
Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City.
Spencer Platt | fake images
Every weekday, the CNBC Investing Club with Jim Cramer publishes Homestretch, a helpful afternoon update just in time for the final hour of trading on Wall Street. (We will no longer be recording audio, so we can get this new written feature to members as quickly as possible.)
