These 2 stocks are still on our shopping list, and what Eli Lilly needs to deliver on earnings

CNBC

5 hours ago

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are nicely higher on Wednesday with the S & P 500 rebounding from a slight dip in the prior session. Apple is one of the big gainers in the session after the White House confirmed to CNBC that the company plans to add another $100 billion to its previous $500 billion manufacturing investment pledge to the United States over the next four years. Apple was also reportedly spared from the recent tariff escalation on goods from India. That one-two punch of good news has sent Apple shares up nearly 6% and on pace for their third session over the past year. Still waiting : It's been about one week, but we are still looking to buy some Starbucks and Palo Alto Networks shares at these levels when our trading restrictions allow. The way our restrictions work is that we're unable to trade any stock that Jim Cramer mentions on CNBC for the next 72 hours. Both stocks got dinged last week: Starbucks sold off on earnings despite CEO Brian Niccol explaining that the coffee chain's turnaround plan was ahead of schedule. And Palo Alto Networks was slammed after it said it was buying CyberArk for $25 billion. This is the largest acquisition in the company's history, which naturally brings some execution risk. However, CEO Nikesh Arora is known for his deal-making. When he says the identity security market is inflecting , making now the best time to enter the category, we want to be there with him. With a more than 1% gain Wednesday afternoon, Palo Alto shares are on track to snap a six-session losing streak that began July 29, the day that The Wall Street Journal first reported on acquisition talks with CyberArk. Up next : Companies reporting after the closing bell on Wednesday include retail darling AppLovin , language learning app Duolingo , cybersecurity provider Fortinet , Airbnb , coffee chain Dutch Bros , and sportsbook DraftKings . Meanwhile, Club name Eli Lilly is set to report earnings before the opening bell on Thursday, and we're looking for combined revenue from Mounjaro and Zepbound to come in above the FactSet consensus estimate $7.73 billion. A raise would be a plus, but Eli Lilly will have to at least maintain its full-year guidance to ease concerns about a potential slowdown in the GLP-1 market, which Novo Nordisk highlighted last week. We trimmed our Lilly position off that Novo news as a hedge against slowing trends. Other companies scheduled to report are electricity provider Vistra , HBO parent Warner Bros. Discovery , Band-Aid owner Kenvue , and aircraft parts maker Parker-Hannifin . On the data side, we'll be on the lookout for weekly jobless claims. This report suddenly has a lot more importance to it following last week's awful jobs number. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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.