3 takeaways from our daily meeting: Bullish on JNJ, AMD upgrades, Disney cost cuts

by | Nov 14, 2022 | Business

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 Monday’s key moments. Bullish on JNJ Upgrades for AMD Cost cuts at Disney 1. Bullish on JNJ Johnson & Johnson (JNJ) is a high-quality and recession-resistant name we’ve urged investors to own in this turbulent economic environment — and we think it could soar even higher once the company completes the spin-off of its consumer health unit next year. “The number one name to own for 2023 in our portfolio could very well be JNJ because of the break,” Jim Cramer said Monday. 2. Upgrades for AMD UBS and Baird both upgraded Advanced Micro Devices (AMD) to a buy at the start of the week. UBS cited optimism around the company’s PC business next year, while Baird said a strong performance from the company’s news chip , Genoa, could help it garner more market share next year. We want to stay long on the stock but advise investors to wait for a pullback before adding to their positions. We recommend that investors swoop in when the stock dips below $73 a share. AMD’s stock was up 1.6% in midmorning trading, at $73.53 a share. 3. Cost cuts at Disney Club holding Walt Disney Co. (DIS) plans to implement a hiring freeze and trim its …

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