Our watchlist of stocks got a much-needed shakeup at the November Monthly Meeting . Jim Cramer on Thursday reviewed the 10 companies in our Bullpen to determine how many still were worthy of being considered for the portfolio. Some were kicked out. Here’s what Jim had to say about the whole group. Pepsico : After reporting a bad third quarter with declining sales in its key U.S. market in early October, Jim said it’s time to remove the beverage-and-snacks giant from the Bullpen. AirBnB : We’re keeping the travel platform in. Jim likes the outlook for the company, which reported strong booking volumes for its third quarter last week , but the stock nevertheless fell on mixed guidance. “[CEO Brian Chesky] talked it down again,” Jim said, explaining that historically it’s been a good move to buy when that happens. Sempra : The diversified utility company is a Bullpen keeper, given it benefits from growing electricity demand fueled by artificial intelligence computing. But it also stands to more directly gain from the incoming Trump administration thanks to its exposure to liquid natural gas and pipelines in its infrastructure segment. RTX Corp : We’re leaving RTX in the Bullpen. The maker of aircraft engines and missiles has been a volatile stock recently, along with its defense peers. In Thursday’s session, in particular, Jim said the weakness could be tied to a belief that Trump could help broker a peace agreement between Russia and Ukraine. Marvell Technology : While some semiconductor names have been weak lately, Marvell has been bucking the trend. Jim chalked that up to CEO Matt Murphy’s decision to personally buy $1 million worth of stock in mid-October, boosting investor confidence. Nevertheless, we’re merely keeping it in the Bullpen for now since we own a trio of other chip stocks with significant AI exposure: Nvidia , AMD and Broadcom . Nucor : While the company hasn’t been able to put up solid earnings as of late due to lower steel prices and volumes, Jim is a believer the “numbers won’t stay bad.” He could like the stock trading at $140 a share, which is roughly 4% lower than Thursday’s closing price of $146.38. Amgen : Shares were hit hard this week on potential safety concerns related to its experimental obesity drug, though the company later pushed back on those claims . Some equity analysts agreed with Amgen’s assessment at this stage in the clinical-trial process. Overall, Jim believes Amgen’s cancer franchise is undervalued. We’re leaving it in the Bullpen because “the stock has got a lot of good things going” besides its obesity treatment, Jim explained. Novartis : Jim said he wants to hear an update from the Swiss drugmaker at the influential JPMorgan Healthcare conference in January. In the interim, it’s staying on our watchlist. Jim said he likes its 3.5% dividend yield. Dow Inc : We’re removing the chemical and materials maker from the Bullpen. Its business hasn’t been able to meaningfully recover from the troubled China market. “It turned out China never came back,” Jim said. ServiceNow : It’s the stock that got away. The software company has strong fundamentals, driven in large part by AI, which is why shares rallied from low $700s in early June to their current price above $1,000 apiece. Along the way, though, the stock’s price-to-earnings multiple has expanded considerably, making it too expensive for our liking. “It went parabolic on me,” Jim said. “We missed the move. It comes out of the Bullpen. We missed it. We move on.” (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.
A view of the New York Stock Exchange (NYSE) on Wall Street November 13, 2024, in New York City.
Angela Weiss | AFP | Getty Images
Our watchlist of stocks got a much-needed shakeup at the November Monthly Meeting.
Jim Cramer on Thursday reviewed the 10 companies in our Bullpen to determine how many still were worthy of being considered for the portfolio. Some were kicked out. Here’s what Jim had to say about the whole group.
