3 takeaways from our daily meeting: Oil buy, P&G tailwinds, sticking by TJX
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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Opportunity to buy oil PG is a ‘coiled spring’ Sticking by TJX 1. Opportunity to buy oil West Texas Intermediate (WTI) crude — the U.S. oil benchmark — tumbled 3.64% Friday, to $78.77 a barrel, opening a window for investors to pick up oil stocks. We believe that oil names are a worthwhile buy right now, as energy firms stay disciplined with their drilling plans. The Club’s oil stocks followed WTI lower in Friday trading, with Coterra Energy (CTRA) down nearly 1%, at $26.56 a share. As a result, we’re buying 100 shares of the oil-and-gas holding. 2. PG is a ‘coiled spring’ Procter & Gamble (PG) held its investor day on Thursday, and as analysts at Deutsche Bank said, no news is good news. The consumer goods company reported no changes to its full-year outlook or long-term growth algorithm. We are bullish on the stock, as prices for commodities like plastic and paper continue to fall. But Procter hasn’t yet adjusted its prices to account for those lower costs, so we suspect higher margins are on the horizon for the Club holding. “This may be the coiled spring in the portfolio,” Jim Cramer said Friday. 3. Sticking by TJX This week saw many big U.S. retailers report earnings — and none made out as well as TJX Companies (TJX). The off-price retail operator beat Street expectations on fiscal third-quarter 2023 earnings, with the industry-wide inventory glut proving to be a boon. We’re sticking by this stock, as persistent inflation drives customers to find bargains at stores like T.J. Maxx and Marshalls. (Jim Cramer’s Charitable Trust is long CTRA, PG, TJX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
