My Top 10 Things to Watch Thursday, April 16 1. Stocks inched higher after the S&P 500 and Nasdaq Composite each closed at all-time highs on Wednesday. Investors remain optimistic that the US and Iran will reach a peace deal soon. 2. PepsiCo had a great quarter with Ramon Laguarta, the most pragmatic CEO in consumer packaged products. He is honest about the threats in the GLP-1 weight loss drug industry and has successfully navigated them. The food business in North America started to increase sales volume for the first time in two years. The stock price is up about 1%. 3. TSMC reported good numbers and positive comments, including a 58% gain. There are also shortages of some industrial gases needed for advanced chip manufacturing, which is a good thing for Linde, a club that produces them (hydrogen and helium) outside the Persian Gulf. Switching from generative AI and query mode to agent AI and command-and-action mode, increasing compute demands. Multi-year megatrend mode. Management reported that memory prices were set “slightly lower.” 4. During an earnings call with investors, TSMC CEO and President CC Wei nods that Intel is a “formidable” competitor along with Tesla. Although both are customers, “don’t underestimate them,” Wei said. 5. JB Hunt Transport Services calls the early stages of a new cycle (“some positive elements of demand”) with a lot of capacity being withdrawn. I like this transportation stock, and I also like FedEx Freight, which was spun off from FedEx. JB Hunt reported first-quarter earnings and operating revenue growth. Shares rose 1% premarket. 6. JPMorgan downgraded Corning from buy to hold and raised the specialty glass maker’s price target from $115 to $175. Analysts said the company needs to raise its earnings outlook for 2028 to support the stock’s upside. Another club name, GE Vernova, was removed from JPMorgan’s Analyst Focus List after its breakthrough. Still, banks raised PT from $1,000 to $1,150. The club has raised its own GE Vernova PT to $1,000 from $875 last week. 7. Garmin’s price target was raised to $285 from JPMorgan’s $265. Analysts expect investments in AI infrastructure such as servers, switches, copper wire and optical to lead to an upside in first-quarter profits. The stock remains immune to bears and is up more than 31% since the beginning of the year. The company will announce its financial results on April 29th. 8. Texas Roadhouse reduced the price from $220 at Wells Fargo to $200. Analysts said same-store sales would slow through the first quarter. If beef prices come down, the second half of 2026 should improve. That’s a fatal call. The company exited the steakhouse chain after a disappointing quarter in February. 9. Wolfe Research begins coverage of CoreWeave with purchase. Analysts described the company as the “best-positioned neo-cloud”, citing its relationships with suppliers, demand and project funding. Wolf set a price target of $150, implying an upside of about 27% from the previous day’s closing price. 10. DraftKings price reduced from $32 to $29. Analysts said sports betting platforms face “risk of failure” this earnings season due to increased competition from the prediction market. DraftKings cannot operate its flagship online sportsbooks in California, Florida and Texas, but Polymarket and Calci can. Correction: This article has been updated to reflect that JPMorgan has raised Corning’s price target from $115 to $175. A previous version said it was cut by the company. 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.
