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 Tuesday’s key moments. 1. U.S. stocks slumped Tuesday as markets piled on losses from the session prior. The Nasdaq was the biggest laggard among the major benchmark gauges — down nearly 1.7%. Portfolio names taking hits include Apple – down over 2.5%. The mega-cap stock continued its recent tumble . This time it was new data about weaker iPhone sales in China . Jim Cramer said Tuesday that members should recognize which names have notched gains and not be afraid to trim their positions when necessary. “We’ve been up since November,” Jim added. “Bulls make money. Bears make money. Pigs get slaughtered.” 2. Case in point, the Club sold some Morgan Stanley shares Tuesday, one day after the stock shot up 4% and recovered its post-earnings losses. It was still unclear what exactly pushed the financial name up that much Monday so we decided to trim our position on that strength. Shares were crushed in January after guidance around its Wealth Management division underwhelmed investors. The Club thinks the outlook could be an underpromise to overdeliver situation. 3. Is it time to sell some Disney ? Jim said Tuesday if not restricted, the Club would trim the position into the embattled stock’s recent signs of life. There is little reason for the stock’s run higher — up 25% year-to-date — aside from talk. Shares hit a 52-week high Tuesday. The entertainment giant is currently in a heated proxy battle with activist investor Nelson Peltz, who argues that Disney has lost its way due to a board that doesn’t hold management accountable. “I don’t want talk. I want action,” Jim said. “Trimming on strength makes a lot of sense.” Peltz wants board seats — a move Jim supports . Disney has said it doesn’t need an outsider like Peltz on the board to do what’s needed to grow the business and boost the stock. (Jim Cramer’s Charitable Trust is long DIS, MS, AAPL . 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.
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