10 Things to Watch About the Club Friday, June 26 — Today’s newsletter was written by Jeff Marks, the club’s director of portfolio analysis. 1. Stock futures fell this morning, led by declines in semiconductor stocks. If the S&P 500 and Nasdaq close in the red, both indexes will fall every day this week. 2. According to the Financial Times, SpaceX is considering launching Starlink mobile service for U.S. consumers and may build its own U.S. mobile network. Starlink is one of our favorites among Elon Musk’s space and AI companies, accounting for the majority of the company’s revenue growth and all of its earnings before interest, taxes, depreciation and amortization. 3. The New York Times reports that OpenAI is considering delaying its initial public offering until 2027. The reasons cited were SpaceX’s sharp decline after its IPO and the overall volatility of trading in AI stocks. The creators of ChatGPT have already filed a confidential IPO application with US regulators. 4. ON Semiconductor has agreed to acquire Synaptics in an all-stock deal valued at $7 billion. The company says this integration will accelerate its evolution towards global leadership in intelligent systems for physical AI. On Semi is a leading company in the automotive chip space. 5. Club name FedEx Freight, part of FedEx Corporation, posted a strong earnings report in the last quarter. As I told club members last night, now is the time to move forward on margin initiatives. Confusion continues as complete financial information is not available. But thankfully, the trucking cycle is improving behind the scenes. Bank of America raised its price target to $187 from $185, implying an 18% upside from the previous day’s closing price. 6. Nike downgraded again before next week’s earnings report. KeyBank held back on the disappointing club’s shares, especially after the recovery in China took longer than expected. We give Nike one more quarter to show if they should continue to live up to their name. 7. Club name Boeing has received an order from China Southern Airlines for cargo jets worth $3.62 billion. The contract is for two 777Fs and five 777-8Fs, with an option to purchase three more 777-8Fs. Boeing stock is almost flat this morning. 8. Honeywell Aerospace started with an Outperform rating and $300 price target at RBC Capital ahead of its separation from Honeywell International on Monday. Aerospace’s when-issued trading line closed yesterday at $221, giving the stock a price target of approximately 36% upside. We have been waiting for this spinoff for many years and are excited to acquire an equity stake thanks to Honeywell’s position. 9. Morgan Stanley said Apple’s price hikes to offset memory and storage price increases were faster than expected and at the higher end of expectations. That’s why yesterday’s stock price fell by the most in a single day since April 2025. But if demand remains relatively inelastic — and Morgan Stanley said history is on Apple’s side because of its ecosystem — then price hikes will likely result in upward revisions to revenue and profit forecasts. 10. TD Cowen transfers coverage of alcoholic beverages. A new team of analysts has rated Modelo brewer Constellation Brands and Diageo, owner of Johnnie Walker and Guinness, a “buy.” They chose to remain neutral against Brown-Forman, which owns Jack Daniel’s. 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.
