Jim Cramer’s Top 10 Things to Watch in the Stock Market Thursday

1. of Dow early Thursday it was moving lower, as it has done in recent sessions. Dow stocks and club name Salesforce’s post-earnings decline was responsible for most of the 300-point premarket decline. Dow, S&P 500 AND Nasdaq everyone was looking at consecutive losses if the morning trading continues at the close. Club name Costco reports earnings after the bell.

2. SalesforceLast quarter and Wednesday night’s guidance showed us that the slowdown in enterprise software is real. Shares fell 15%. While overvalued, stocks are not rewarded for slowing growth. We maintained our 2 rating and lowered the Club’s price target to $300 from $340. Key words from post-earnings say: “limited” sales cycle, “budgetary review” and “judicious buying environment.”

3. Buy better Shares jumped nearly 7%, gaining momentum after computers and artificial intelligence equipment were cited as expected drivers of sales on the electronics retailer’s post-earnings call. Quarterly profit beat, but revenue missed. Same-store sales were lost. Management lowered their forecast for capital expenditures for the full year.

4. The embattled stock Foot locker rose 12% after the sneaker retailer beat quarterly earnings, matched revenue and reported a smaller-than-expected decline in same-store sales. The guidance was pretty good as signs that CEO Mary Dillon’s turnaround is starting to take hold.

• I’ll be talking about Costco, Salesforce, Best Buy, and Foot Locker, as well as the other 29 stocks in the Investing Club portfolio at our May Monthly Meeting at noon ET.

5. Shares of Kohl’s plunged more than 20% after the department store chain reported a quarterly loss per share of 24 cents, when a profit of 4 cents was expected. Revenue was also lacking. Kohl’s also cut its future outlook.

6. UiPath disaster: Shares fell more than 30% early Thursday after CEO Rob Enslin resigned on June 1. Co-founder Daniel Dines will step back into the role. Dines had resigned as co-CEO at the end of January. There were multiple analyst downgrades of the enterprise automation and AI software maker. UiPath cut guidance after reporting a better-than-expected quarter.

7. Goldman Sachs started the club names Abbott Labs with a purchase and GE Healthcare with a holder. Analysts see accelerated growth in medical technology. The club added more shares of Abbott and GEHC on Wednesday.

8. Goldman Sachs revised up its 2030 sales forecast for GLP-1 obesity drugs to $130 billion, from last year’s forecast of $100 billion. As a result, analysts increased their price target on the club’s name Eli Lilly to $785 a share from $740, well below where the stock closed on Wednesday. Goldman maintained its equal rating on Lilly, which has a duopoly in the GLP-1 market with a Danish rival Novo Nordisk.

9. Hospitals are doing well. JPMorgan raised its price target Tenet Healthcare to $140 a share from $107, maintaining an equal valuation with the acquisition of the hospital and surgery center operator.

10. McDonald’s US President Joe Erlinger issued an open letter on inflation, saying the price of a Big Mac in America was $4.39 in 2019 and now $5.29. This is 21% inflation. Erlinger was taking issue with social media posts and media reports that McDonald’s says have exaggerated the price hike.

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