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. Disney has more room to run Don’t chase Wynn Resorts stock up Salesforce activist interest shows its value 1. Disney has more room to run Shares of Disney (DIS) rose roughly 2.5% mid-morning Thursday, one day after it announced plans to reorganize, cut 7,000 jobs, and slash costs. Activist investor Nelson Peltz told CNBC on Thursday that the proxy fight with Disney is over, since the company run by CEO Bob Iger is making the right moves. We agree with Peltz’s assessment and expect the stock to continue moving higher even after its strong run so far this year. 2. Don’t chase Wynn Resorts stock up Wynn Resorts (WYNN) stock rose 5% early Thursday after the casino operator reported solid fourth-quarter results and cheery guidance after the closing bell Wednesday. The company topped expectations on its key profitability metric and there were no signs of a slowdown in January, despite investors’ concerns that a global economic slowdown would hurt travel demand. While we wouldn’t chase the stock up here while it’s up, it does have more room to run. 3. Salesforce activist interest shows its value It looks like Dan Loeb’s Third Point has taken a position in Salesforce (CRM), making it the fifth known activist investor in the company. While it’s unclear what Loeb’s plans are for the company, the widespread interest from activist investors speaks to Salesforce’s high value. Their stakes also exemplify the potential to unlock value for shareholders through cutting costs and improving margins and free cash flow. Salesforce already announced layoffs and a board shake-up. (Jim Cramer’s Charitable Trust is long CRM, DIS, WYNN. 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.
Source:CNBC
