Jim Cramer’s Top 10 Stock Market Watchlist for Thursday, Dec. 5
By Mr. Ram | CryptoEarningsHQ
Jim Cramer highlighted the top things to watch in the stock market for Thursday, December 5, focusing on major developments across sectors.
Cryptocurrency Surge: Shares of companies with crypto exposure soared as Bitcoin surpassed $100,000 for the first time. MicroStrategy rose 9%, while Robinhood and Coinbase saw gains of 7.5% and 5%, respectively. Bitcoin's 140% surge in 2023 gained momentum after Donald Trump's presidential win, benefiting crypto stocks.
Jobless Claims: First-time jobless claims for last week totaled 224,000, higher than expected. This comes after weaker-than-anticipated ADP private payrolls data and ahead of Friday's employment report. Bond yields rose, putting pressure on stocks following the S&P 500's record highs.
Costco's November Sales: Costco reported a 4.9% increase in same-store sales, excluding gas and currency, but e-commerce fell 2.5%. Shares reached all-time highs as the company cited the late Black Friday and Cyber Monday as factors impacting online sales.
Five Below's Strong Earnings: Shares of Five Below surged 15% after reporting better-than-expected earnings and revenue. The retailer raised its full-year guidance and expects smaller declines in same-store sales than previously anticipated.
Dollar General's Solid Quarter: Dollar General posted solid results, with its core customer still feeling financial constraints. This followed a strong quarter from rival Dollar Tree, which also saw several analysts raise their price targets.
American Eagle Outfitters' Mixed Quarter: American Eagle shares dropped 13% after reporting mixed results. Although EPS beat expectations, revenue fell slightly short. The company blamed the calendar shift for impacting holiday sales.
PVH Reports Weak Guidance: PVH, the parent company of Calvin Klein and Tommy Hilfiger, saw shares fall 6% after providing weak current-quarter EPS and revenue growth guidance. While Tommy Hilfiger performed well, Calvin Klein missed expectations.
TJX Gets Analyst Upgrades: TJX, the parent company of T.J. Maxx, saw price target hikes after a strong quarter. Analysts highlighted robust consumer traffic, good inventory variety, and solid marketing.
Disney's Dividend Hike: Disney raised its dividend by 33% after a successful year, which included big box-office hits like "Moana 2", “Inside Out 2", and “Deadpool & Wolverine”. The upcoming Christmas release, “Mufasa” from the Lion King franchise, is also expected to perform well.
Meta's $10 Billion Investment: Meta Platforms announced plans to invest $10 billion to build an AI data center in Louisiana. This comes after the company also explored nuclear energy proposals to power its AI operations.
By Mr. Ram | CryptoEarningsHQ
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