10 things to watch Friday, July 25 — CNBC’s Jeff Marks wrote today’s newsletter. 1. Stocks were steady this morning as we head into the last session before the weekend. The S & P 500 posted a slight gain yesterday and closed at a record high. 2. Intel reported a messy quarter. The chipmaker plans to cancel foundry projects that new CEO Lip-Bu Tan called “excessive and unwise.” The stock dropped 8%. 3. Ahead of earnings, JPMorgan downgraded Procter & Gamble to neutral on “lackluster” expectations and upgraded Estee Lauder to an overweight buy on hopes for better than feared results. 4. Deckers Outdoor reported a better-than-expected quarter thanks to sales of Uggs and Hoka. The stock soared 11.5%. 5. Centene shares initially plummeted after reporting a loss in the second quarter. But the stock reversed 6% higher this morning. Analysts were looking for a profit. 6. Edwards Lifesciences reported a beat and raise. The stock jumped 7.5%. 7. Jefferies downgraded Norfolk Southern to hold and upgraded Union Pacific to buy as the two railway companies engage in merger talks. 8. Ulta Beauty was downgraded to hold at Loop Capital due to valuation. The analysts are not bearish on the fundamentals. 9. Piper Sandler initiated coverage on Palantir , starting with an overweight buy rating and $170-per-share price target. The analysts said it has a “one-of-a-kind growth + margin model.” 10. Bank deal: Pinnacle Financial to merge with Synovus Financial . Both stocks were down. Nevertheless, it is another positive sign for M & A in a deregulatory environment under the Trump administration. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at 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.
