United Parcel Service — Shares of United Parcel Service continued to trade lower on Wednesday, falling more than 8% a day later, as the company reported a disappointing 2024 revenue outlook and announced 12,000 job cuts. “I don’t know if (CEO) Carol Thom can keep her job,” Jim said. The fact is, e-commerce is so powerful, he added, that “she has no part in it.” Walmart – Jim said founder Sam Walton likes the idea that people don’t have to hold fractional shares and praised the retailer’s one-for-three stock split. Jim added that “Walmart is doing a very smart move” to attract individual investors with a lower share price. General Motors — Shares of General Motors rose Wednesday on strong quarterly results and 2024 guidance, building on a 7.8% gain in the previous session. “People like internal combustion engines. (CEO) Mary Barra has a lot of internal combustion engines,” Jim said. He added that if GM slowed its development of electric vehicles, the automaker could return more money to shareholders. Jim’s CNBC Investment Club owns Ford Motor Company, which will report next month. Boeing — Shares of Boeing rose on Wednesday after the planemaker hit its free cash flow target. Boeing did withdraw its 2024 guidance as it deals with ongoing issues with the 737 Max. But Chief Executive Dave Calhoun didn’t cancel the outlook for 2025-2026. Jim said Calhoun made it clear he was “taking responsibility” for the 737 Max problems. “These planes will be back in the skies within a few months,” Jim predicted. Novo Nordisk — the maker of diabetes treatment GLP-1 Ozempic and weight-loss drug Wegovy — has seen its market capitalization top $500 billion after reporting strong quarterly results. “They announced a phase 3 study on osteoporosis … and it works,” Jim said. Ozempic and Wegovy compete with Mounjaro and Zepbound of club name Eli Lilly. With a market capitalization of $611 billion as of Wednesday, Lilly is the world’s most valuable pharmaceutical company. Tesla shares fell slightly on Wednesday after a Delaware judge invalidated Musk’s compensation package. “I think the Delaware judge had a problem with that guy,” Jim said, as well as the ambivalent board of directors who initially gave Musk the deal.
