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 Thursday’s key moments. 1. Stocks were little changed after the S & P 500 and Nasdaq resumed their upswing back to record highs. Jim Cramer said Thursday’s market is all about the rotation out of software and into hardware following a 17% post-earnings plunge in ServiceNow shares. While the company turned in a beat and raise, it did say the Iran war was a drag on subscription revenue growth. Unfortunately, portfolio names Salesforce , as well as Palo Alto Networks and CrowdStrike , were caught in the downdraft. 2. Our newest Club name, chip designer Arm , was one of the leaders of the hardware rally, jumping roughly 6% to new all-time highs. The stock is up more than 20% since we initiated a position three days ago. Jim called it an “incredible move,” but voiced concern about Arm CEO Rene Haas’ expanded leadership role at SoftBank, the big Japanese tech investment group. Haas is already on the board there. “I didn’t want that at all,” Jim said, who prefers Haas to be fully devoted to Arm. Jim added that Haas told him it would not be a problem. 3. Procter & Gamble rose over 1%, trading at around $145 ahead of earnings on Friday morning. “I’m actually looking to buy more, if it [the stock] breaks below $140 [per share],” said Jim, who is also enthused about new CEO Shailesh Jejurikar. “He’s international. He really gets it,” Jim added. The Street is looking for earnings per share growth of about 1% as well as organic revenue growth slightly below 2%. We’ll also be paying close attention to cost pressures from higher prices for resin, an oil derivative used in packaging. 4. Stocks covered in Thursday’s rapid fire at the end of the video were: American Express, IBM , Tesla , Texas Instruments , and Thermo Fisher . (Jim Cramer’s Charitable Trust is long ARM, CRM, PG, PANW, CRWD. 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.
Cramer wants to ‘buy more’ of this household name if the stock price goes a bit lower
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