Hasbro CEO Chris Cocks on diversifying manufacturing away from China
Hasbro CEO Chris Cocks, joins 'Mad Money' host Jim Cramer to talk quarterly results, increased toy costs, tariff impact and more.
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CNBC
18 minutes ago
- CNBC
Eaton makes a move outside of the data center — plus, what's new with Abbott Labs
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 were higher in afternoon trading Monday, with the S & P 500 adding nearly 1% and the tech-heavy Nasdaq Composite advancing around 1.5%. The action across Wall Street — and not just in stocks, but also in areas like gold and oil — suggest the market is betting that the Israel-Iran attacks will not lead to a broader conflict in the Middle East. As we highlighted in a story earlier Monday , investors view geopolitical events through the lens of, "What does this mean for global economic growth?" On Monday, at least, the belief is that growth will not be derailed by the attacks. Defense deal: Club holding Eaton is making a move outside of its high-profile data center business. On Monday, the electrical equipment company announced a $1.55 billion acquisition of aerospace and defense firm Ultra Precision Control Systems, expanding Eaton's presence in two fast-growing end markets amid rising global defense spending driven by geopolitical uncertainty and conflict overseas. Ultra PCS makes products like ejection systems that help drop missiles, along with noise and vibration control for aircraft interiors. The deal is expected to be accretive to Eaton, given Ultra PCS's "strong growth position on high-margin business," according to the Monday announcement. Ultra PCS is projected to generate sales of roughly $240 million in 2025, which would be equal to nearly 6% of Eaton's expected aerospace revenues of $4.08 billion. In the company's first quarter, aerospace was about 15% of sales. The acquisition, while small, speaks to a key concern Jim Cramer now has with Eaton's stock: its close linkages to the AI data center trade. With the way our own stock portfolio has evolved, Jim worries that shares of Eaton are too closely tied with the spending patterns of hyperscalers like Amazon and Microsoft. Even if the "data center and distributed IT" end market is only expected to contribute 17% of Eaton's total sales this year, it can sometimes feel like that's the only thing that moves the stock. And now that we have other AI industrial names like Dover and GE Vernova in the portfolio, Jim has even speculated if the Club should exit Eaton all together. "I am concerned and think that we might have to take one of these off out of that concern," he said of Eaton and Dover during the May Monthly Meeting . "I like the data center [story] but I do not want to be the data center fund." Therefore, adding Ultra PCS to the fold at Eaton should help boost its budding aerospace business and, hopefully, broaden the way Wall Street views the stock. Jim has described the aerospace division as "a very solid business that is really coming on." Shares of Eaton are up more than 4%, outperforming the rebounding market. A few other stocks in the AI data center trade such as Vertiv also are having a strong day. Abbott roundup: There are a few headlines involving Club name Abbott Laboratories on our radar Monday, including an initiation over at Leerink Partners. Analysts began coverage of the medical devices company with a hold-equivalent rating and target price of $143, implying less than 6% upside from where the stock closed Friday. While noting Abbott's strong position in the industry, Leerink analysts said they believe "potential upside growth drivers and strong execution" is largely baked into the company's "stock at current peak valuation levels," without any compelling near-term catalysts. We do have a hold-equivalent 2 rating on the name, as well, so it's difficult to push back on claims of a full valuation. Better news for Abbott came out of Canada, where the company got government approval of a rapid blood test to help clinicians assess suspected concussions. While we're not sure this is a major needle-mover right now, it is an interesting product with use cases that include sporting events. For example, the motorcycle road racing series MotoAmerica will have the test on hand at all of its races this year . Lastly, we came across a story in The New York Times from late last week that took a closer look at claims around baby formula. Earlier this month, Health Secretary Robert F. Kennedy Jr. ordered the Food and Drug Administration to review infant formula ingredients, the first such review in decades. Abbott, the maker of Similac baby formulas, has faced lawsuits related to its specialized formula business, though the company defends the safety of its product. Separately, Abbott also had issues with a manufacturing plant in 2022 . Shares of Abbott Labs have been one of the best-performing stocks in our portfolio this year, though the stock hasn't done much since early March. Up next: Homebuilder Lennar is set to report earnings after the closing bell Monday, and we'll be listening to commentary on the conference call around overall housing market activity, which carries implications for Club name Home Depot. Before Tuesday's opening bell, we'll hear from Jabil, which makes electronic components and is a supplier to Club holding Apple . Also out Tuesday morning is a handful of notable economic reports. We'll get retail sales for May; the latest import/export prices index; and the Federal Reserve's industrial production and capacity utilization report. Combined, all three releases will shed light on the health of the U.S. economy ahead of the Fed's interest rate decision on Wednesday afternoon. (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.
Yahoo
an hour ago
- Yahoo
Jim Cramer Recommends Spotify Over Peloton Interactive
Peloton Interactive, Inc. (NASDAQ:PTON) is one of the 15 stocks that Jim Cramer recently talked about. During the lightning round, a caller asked what Cramer thinks of Peloton Interactive, Inc. (NASDAQ:PTON), and he replied: 'Well, you know, it is a subscription business, and I like subscription businesses. I think that they work, but I don't think they have the growth. So, therefore, I'm going to say if you want a subscription business, I want you to be in Spotify.' A group of people in a fitness class with connected fitness products in a studio or gym. Peloton Interactive, Inc. (NASDAQ:PTON) provides connected fitness equipment and a digital platform that combines hardware, software, and content as it provides interactive workout experiences through various sales channels. During an episode of Squawk on the Street aired in March, Cramer mentioned the stock while appreciating subscription businesses. 'The fitness trend is good. Remember the fatness trend is battling with the fitness trend. But I would say that Peloton, Spotify, Netflix, Costco, subscription businesses. Subscription businesses are king. And Peloton's a subscription business. Well done… Peloton seems like it's got churn down. And I like that. That was a very good call. I thought the call was very good. Remember, I'm totally in this camp which just says, younger people want to workout.' While we acknowledge the potential of PTON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Jim Cramer Notes Kinder Morgan 'Got It Together'
Kinder Morgan, Inc. (NYSE:KMI) is one of the 15 stocks that Jim Cramer recently talked about A caller asked if they should buy, sell, or hold on to Kinder Morgan, Inc. (NYSE:KMI) stock. Cramer said: 'Kinder Morgan's good. Kinder Morgan's good. You know… The company got it together. Anything in the pipeline is just working.' Aerial view of an oil and gas pipeline, spanning vast landscapes. Kinder Morgan (NYSE:KMI) develops and operates energy infrastructure assets, including pipelines, storage systems, terminals, and processing facilities for natural gas, petroleum products, and CO₂, supporting energy transport, storage, and recovery operations. In 2024, Cramer highlighted the company as a strong, stable pipeline stock with a solid yield and growth potential, although it is important to note that the markets were anticipating rate cuts at the time. He commented: 'This energy pipeline play was a big favorite of mine from 2005 to 2010. Pipeline operators like Kinder Morgan operate like toll roads, meaning they aren't heavily leveraged to the price of oil or gas. While KMI does have some exposure, it primarily benefits from domestic energy production growth, which has been strong for the past two decades. While I like Enbridge with its 7.27% yield, it's not part of the S&P 500. Instead, we'll focus on Kinder Morgan, which offers the 10th highest yield in the S&P 500 at 5.37%. Despite oil and gas prices pulling back from their highs, Kinder Morgan's stock has continued to perform well, up more than 21% this year with minimal drama. Wall Street is anticipating rate cuts, but the fundamentals are solid—this is a great long-term operator in the pipeline space with a very attractive yield that will become even more appealing as rates decrease.' While we acknowledge the potential of KMI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
