My Top 10 Things to Watch for Monday, May 4th 1. Oil prices soar after conflicting reports about Iranian attacks on US warships, raising concerns about regional instability and pushing down the S&P 500. It followed a blockbuster week for the stock market, with the market-wide index closing at its highest level three times. Investors are expected to hear important April jobs data on Friday. 2. Chevron’s price target has been raised to $192 from Barclays, which maintained the stock price at $180. The oil company’s first quarter report showed “resilient” operations and free cash flow momentum growing into the second quarter. This is a near-perfect tracking of the war in Iran. 3. Video game retailer GameStop announced Sunday that it has made an unsolicited, non-binding offer to acquire eBay for $125 per share in a cash and stock transaction. The e-commerce platform is valued at approximately $55.5 billion. Could that happen? Anything is possible. In fact, eBay stock rose nearly 9% premarket. CEO Ryan Cohen told CNBC this morning that discussions with eBay management have not yet begun. 4. Is the market a church with a casino, as Berkshire Hathaway Chairman Warren Buffett says? Speaking with CNBC’s Becky Quick at the company’s annual meeting over the weekend, Buffett said casinos have become “very attractive to people. If you’re buying and selling one-day options, it’s not investing, it’s not speculating, it’s gambling.” 5. Bernstein raised digital memory stock SanDisk’s PT from $1,250 to $1,700 after last week’s beat-and-raise. Strong, strong, strong is the watchword. We wrote Friday about how rising memory prices are a big theme in this market, and what SanDisk’s move to long-term contracts means for our tech stocks. Separately, HSBC lowered its rating on chipmaker AMD from buy to hold, citing limited upside potential. I think AMD can still go higher. SanDisk rose after reporting strong numbers. 6. This quarter’s earnings report is a real judgment day for AI. As I wrote in my Sunday column for members, companies that spent a lot of money are now winners and are starting to generate returns that were once thought possible. 7. Airbnb upgraded to holdover purchase at Oppenheimer. Analysts said efforts in products such as AI search and hotels are not yet fully reflected in Wall Street estimates. The company predicted it would benefit disproportionately as rental demand increases in World Cup host cities. I think the management’s corrections are starting to take shape. 8. Much love to Linde. JPMorgan raised its price target from $525 to $530, citing improved fundamentals in the first quarter results. Citi rose from $580 to $585 on upside to second-quarter and 2026 guidance. Following the industrial gas giant’s report on Friday, we raised our price target to $550 from $540. The club’s stock rating is “1,” which corresponds to a “buy.” It was a really great quarter. 9. Estée Lauder’s price target was raised to $85 from Canaccord’s $80. Analysts on Friday pointed to a significant improvement in third-quarter results, with the cosmetics company reporting improvement and share gains in mainland China. Shares soared more than 3% to about $79. The updated PT suggests a 7% upside from Friday’s close. 10. Massive Call to the Alphabet. Citizens raised Google’s parent company’s PT from $385 to $515, citing strong sales growth in the first quarter. It was a monster print run, with revenues nearly double Street estimates. The stock price rose even as management expects to increase capital spending over the coming year. This was a perfect example of how the market will give some teams a pass if they can prove that their big bet on AI pays off. Sign up for free for my Top 10 Morning Thoughts on the Markets email newsletter (See here for a complete list of Jim Cramer Charitable Trust stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you’ll 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.
