Here’s what we think about Ford stock after tentative UAW deal and ahead of earnings
Every weekday, the CNBC Investment Club will host a live “Morning Meeting” with Jim Cramer at 10:20 a.m. ET. Here’s a look back at Thursday’s key moments. 1. The stock market experienced another decline, with large technology stocks once again leading the decline. Jim Cramer said on Thursday that the S&P oscillator showed the market was oversold, while third-quarter GDP was better than expected, which may raise concerns about a rate hike by the Federal Reserve. Bond yields were not bad Thursday. Oil fell 2%. In an oversold market, we have maintained our discipline and put small amounts of capital into great companies that we believe in long-term growth. 2. Jim said that if not restricted, he would take a stand here on the meta platform (META) in the name of the club. He said he would buy 50 shares now if he could, and would buy another 50 shares if the stock price fell to $220. We restored the Meta rating to 1. By late morning, Meta’s share price wasn’t down as much as it had been earlier. The stock is having a rough patch after a solid quarter, but some guidance is worrisome. However, Meta is still up about 140% year to date. 3. Ford (F), the name of the club, will report earnings after the close on Thursday. Like General Motors (GM), third-quarter results are expected to be good. But what everyone will be concerned about is the tentative agreement Ford and the United Auto Workers have reached, and how much the six-week strike has cost Ford. We’re also interested in what Ford has to say about balancing profits from internal combustion and hybrid vehicles with investments in all-electric vehicles, a division that has been losing money. Jim said that at this time, he would not buy Ford stock when the stock price drops. Let’s see what the company had to say Thursday night. (Jim Cramer’s Charitable Trust is long META, F. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investing Club, You will receive trade alerts before Jim Cramer trades. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charitable trust portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms and Conditions and Privacy Policy and our Disclaimer. No fiduciary duty or obligation is created or created by any information you receive in connection with the Investment Club. No specific results or profits are guaranteed.
Svlook
