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 Thursday’s key moments. Don’t sell Meta Look past Eli Lilly’s tough quarter Chance to buy Estee Lauder 1. Don’t sell Meta Shares of Meta Platforms (META) soared more than 25% Thursday morning, to $192.50 apiece, after the tech giant reported a fourth-quarter earnings beat Wednesday evening and announced a $40 billion stock buyback plan. The quarter was exactly what we had been waiting for, as the company demonstrated it’s serious about controlling costs. CEO Mark Zuckerberg on Wednesday called 2023 “the year of efficiency,” while lowering Meta’s 2023 expenses outlook by $5 billion. We’re holding onto our shares of Meta and expect the stock to move even higher, if Zuckerberg follows through on his promise to rein in spending. 2. Look past Eli Lilly’s tough quarter Eli Lilly (LLY) stock was down nearly 6% Thursday morning, at roughly $322 a share, after the company missed on sales estimates for diabetes drug Mounjaro when reporting fourth-quarter results. But that was driven by shortages due to high demand, and the company plans to ramp up manufacturing capacity this year. Moreover, Mounjaro hasn’t yet been greenlighted for obesity treatment , which should turbo charge the stock. Eli Lilly remains a strong multi-year story, and we advise investors to look past the current decline. 3. Chance to buy Estee Lauder Estee Lauder (EL) on Thursday said it expects a larger drop in full-year profit than it had initially anticipated amid uncertainty around China’s ongoing economic reopening. The cosmetics firm relies on China for more than a third of its total revenue and had been weighed down by Beijing’s strict zero-Covid policy over the past three years. But we expect Covid-related headwinds to clear up by the end of the next quarter, allowing the stock to soar. Shares were down roughly 3.6% Thursday, at $270.80 apiece. We would be buyers here rather than profit-takers. (Jim Cramer’s Charitable Trust is long EL, LLY, META. See here for a full list of the stocks.) 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.
(With inputs from CNBC)
