Jim Cramer’s top 10 things to watch in the stock market Wednesday
My top 10 things to watch Wednesday, Aug. 12 1. Stock futures are up after the consumer price index for July matched expectations. Headline CPI was up 3.4% year over year. When excluding food and energy prices, core CPI was up 2.5%. What’s it mean for the Federal Reserve’s next move? Well, the Fed-sensitive 2-year Treasury yield is moving lower in response. Fed Chairman Kevin Warsh is looking to the bond market for cues. 2. Tomorrow at noon ET: We’re holding our August Monthly Meeting for Investing Club subscribers. I’ll dive into my favorite stock in this market and cover the rest of our 32-name portfolio, including our newest addition earlier this week. These monthly, hour-long calls are one of my favorite parts of the Club. It’s not to late to sign up and catch this one live. 3. CoreWeave is surging 19% this morning. Revenue beat and narrower-than-expected losses. More capacity coming online and backlog growing. Key theme on the conference call: the durability of Nvidia chips. Six-year-old Nvidia A100 chips are contracted out to 2029. Partnering with Nvidia is really the only way to make sure your compute assets last longer. CoreWeave is spending a lot on data centers, but this is not an “if you build it, they will come” situation. The demand is already here. 4. Multiple price-target boosts for Super Micro Computer after a strong quarter and guide. Citi and Barclays both went to $39 and kept their hold ratings. Shares are up over 8% premarket to about $24 apiece. This is another example of a company affirming the value of Nvidia chips in their server racks. But questions about business ties to China make the stock too had to recommend. Prefer Dell or even HP Enterprise . 5. UBS bumped up its price target on Aramark to $71 from $67 after the food service provider’s strong quarter yesterday. Kept its buy rating. One big growth driver going forward? Data center construction. Aramark’s Nexus platform delivers hospitality services for workers on site. They signed a multiyear agreement with a leading AI data center builder. Need to attract and retain blue-collar talent. 6. We raised our price target on Cardinal Health yesterday after the drug distributor issued an amazing initial earnings guidance for fiscal 2027. Stock closed at an all-time high. It’s a great way to add diversification alongside AI names. Wells Fargo upped its price target to $277 from $245. Citi went to $280 from $265. Both shops reiterated their buy ratings. 7. Oppenheimer upgraded robotic surgery giant Intuitive Surgical to buy from hold, with analysts saying they see “a more nuanced risk-reward assessment” at current levels. Key to their call is a belief that emerging competition in the U.S. is a non-factor. That includes Club name Johnson & Johnson ‘s recently approved Ottava system. J & J is positioning Ottava as a long-term play, not an overnight success. Plus, its pharma business has exciting growth prospects. 8. Citizens hiked its price target on Palo Alto Networks to $415 from $320 and kept its buy rating. Analysts said AI-driven threats have increased demand for premier cybersecurity offerings. They also like CrowdStrike . I’ve maintained that AI is a tailwind for both of these Club stocks, even when they got lumped into the “SaaSpocalypse” sell-off earlier this year. But you can’t forget to be disciplined. We trimmed a little last week to lock in profits after their big comeback rallies. 9. Wegovy maker Novo Nordisk was downgraded to hold from buy at Berenberg, which argued further multiple expansion hinges on proof that the drugmaker can maintain a lead in oral obesity treatments over Eli Lilly ‘s Foundayo, which we covered in yesterday’s Homestretch . Club name Lilly was able to steal the crown in injectables. Tough to bet against Lilly here despite a sluggish start. Let’s see what Novo CEO Mike Doustdar says on “Mad Money” tonight. 10. Yesterday’s disaster du jour brings more joy. Baird removed On Holding as a fresh pick after the Swiss shoe maker delivered a second-quarter revenue miss and cut its full-year growth outlook. Raymond James downgraded On to outperform from strong buy for the same reason. Shares are up nearly 1% premarket, but have a long way to go to make up for Tuesday’s 20% post-earnings plunge. 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 . 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