Jim Cramer’s CNBC Investment Club hosts a “Morning Meeting” livestream every weekday at 10:20 a.m. ET. A recap of Thursday’s key moments. 1. The S&P 500 rose 1.1% on Thursday as AI trading returned in earnest following Nvidia’s explosive quarterly profit. The company’s stock rose more than 4%, while peer Broadcom, which is the name of the club, soared nearly 6%. Wall Street also scrutinized the delayed September jobs report, which showed that 119,000 jobs were added, well above expectations of 51,000. The data was positive. But October’s results will be more important as the Fed decides whether to cut rates at its December meeting. 2. Palo Alto Networks announced better-than-expected quarterly results on Wednesday night, delivering strong results across all key metrics, including adjusted earnings per share (EPS), gross remaining performance obligations (RPO) and next-generation security annual recurring revenue (ARR). ARR is important because it can demonstrate the success of the company’s subscription-based business model and “platforming” strategy of bundling products and services. Management also announced plans to acquire cloud management and monitoring company Chronosphere for $3.35 billion. Analysts like this trade, as Chronosphere’s ARR growth should make them even more bullish on the company’s Cyber stock. 3. Eaton announced Thursday that Chief Financial Officer Olivier Leonetti will leave the power management solutions provider next year as part of a planned transition. Leonetti will remain in his position until a successor is named. Management also reaffirmed Eaton’s 2025 guidance. However, leadership changes do not affect our theory about industrial stocks. Any sudden change is a red flag, Jim says. “We need a really long transition period,” he added. Otherwise, investors will be worried about the company’s stability and future prospects. Jim went on to say, “It gives them a really structured year.” 4. Stocks featured in rapid succession Thursday at the end of the video were Walmart, Abbott Laboratories, Williams-Sonoma, Brock, and Jacobs Solutions. (Jim Cramer’s charitable trusts are long NVDA, PANW, AVGO, ETN. See here for a complete list of 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.
