Every weekday, Jim Cramer’s CNBC Investment Club releases the Homestretch, a practical afternoon update to coincide with the last hour of trading on Wall Street. Markets: The S&P 500 reversed Thursday afternoon’s losses on concerns about credit stress in the banking industry. The latest issue emerged late Wednesday when local bank Zions revealed plans to write down $50 million to cover two loans. Zions stock fell nearly 12% on Thursday. Sympathetically, Capital One, one of the nation’s largest credit card issuers, fell more than 6%, and Wells Fargo, known for its consumer banking sector, fell about 3%. Capital One and Wells Fargo are both in the club’s portfolio. Market concerns about U.S.-China trade tensions and a government shutdown also smoldered. Industries: New stock allocation details for DuPont’s Kuniti Electronics spinoff and Honeywell’s Solstice Advanced Materials spinoff were announced Thursday. First, DuPont shareholders of record as of October 22 will receive one Qnity share for every two DuPont shares on November 1. Qnity and DuPont will begin trading as separate stocks starting November 3rd. Qnity’s ticker symbol will be “Q”. The new DuPont, which focuses on health care, water and diverse industries, will maintain its “DD” ticker. Club Portfolio Analyst Director Jeff Marks published two great articles this week about Qnity and the new DuPont. Second, Honeywell shareholders as of October 17th will receive one Solstice share for every four Honeywell shares on October 30th. Later that day, Solstice is expected to begin trading separately under the ticker “SOLS.” Honeywell’s ticker will continue to be “HON.” Honeywell plans to spin off its aerospace business in the second half of next year. The rest of Honeywell will be about automation. Smartphones: New data shows demand for Apple’s iPhone is increasing. In fact, according to a new report from Counterpoint Research, Apple’s global smartphone shipments increased 4% year-on-year in the third quarter, solidifying its position as number two among smartphone players. However, Samsung took first place in terms of smartphone market share. Still, Apple’s global shipment growth was the fastest among the most popular brands this quarter, including Xiaomi, OPPO, and more. The report, released Wednesday by the research firm, said Apple’s latest iPhone 17 series was “well received” and saw “record pre-orders in all regions.” This is good news for Apple, which derives most of its revenue from iPhone sales. This is no big surprise to us. We’ve written a lot of contrarian stories about how powerful upgrade cycles are. Healthcare: Amazon One Medical announced Thursday that it is expanding pay-per-visit telehealth appointments to children ages 2 to 11. This is the latest move by the e-commerce and cloud giant to enhance its healthcare services. There is no health insurance plan and no Amazon Prime or One Medical membership required. These visits cost $49 for video and $29 for text message-based consultations. This service is designed to treat common childhood illnesses such as lice, lice, and specific skin problems such as eczema, insect bites, and contact dermatitis. Parents can also renew their child’s EpiPen or asthma medication. Earlier this month, prescription drug kiosks operated by Amazon Pharmacy launched at select One Medical offices in Los Angeles. Each machine is designed to store hundreds of different medications. The plan is to roll out kiosks in other locations soon. Next: Due to the shutdown, the government’s economic report has not yet been released. Financial names such as American Express, Trust, State Street and Fifth Third Bancorp are expected to report results before the opening bell on Friday. Given the credit concerns that rocked markets on Thursday, this could give investors more insight into the health of the U.S. consumer and banking sectors. (See here for a complete list of Jim Cramer Charitable Trust stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
