What Cramer is watching Wednesday — Pelosi’s visit, AMD’s guidance and a meme stock alert

What I am looking at Aug. 3, 2022 House Speaker Nancy Pelosi’s visit to Taiwan is over. Tensions subside. World is divided into democracy and autocracy and we will defend Taiwan with everything we have. Declaration of independent. Pelosi met with Taiwan on semiconductors and talked about the CHIPs bill. South Korea’s Samsung and Hynix reevaluating investments in China because no subsidies. OPEC+, do they have the horses to pump more? Natural gas prices stubbornly high. Gasoline down 80 cents in last seven weeks. Current oil shortfall as Russia produces less and our exports level off, which means there is a supply shortage developing. Club likes Pioneer Natural Resources (PXD), Coterra Energy (CTRA), Devon Energy (DVN), Halliburton (HAL) and Chevron (CVX). All had excellent quarters. Fed speak, look at the data, not what they say the data is. Plus, St. Louis Fed President James Bullard on CNBC on Wednesday morning says he sees more interest rate hikes ahead and no U.S. recession. New trend, in many cases Wall Street price targets are finally brought down enough that they can be raised. Examples: Starbucks (SBUX) and PayPal (PYPL) after strong earnings. Club holding Advanced Micro Devices (AMD) reported better-than-expected quarter but did not guide down. It has the 5 nanometer processors that the titans want. Data center business strong. Taking share from Intel (INTC). AMD did see double-digit decline in personal computers and weakness in video gaming. Citi says AMD guided below consensus. I don’t believe that’s the case. CEO Lisa Su on Wednesday evening’s “Mad Money.” Meme stock: Software solutions AMTD Digital (HKD) up in premarket after more than doubling Tuesday $1,679 per share. Now stock more than 20,000% higher offering price. $310 billion market cap. AMTD raised $125 million in IPO on July 15. Priced at just $7.80 per share. Starbucks truly an upside surprise. Interim CEO Howard Schultz in good form. This one is about to roar and we are debating putting it in the Investing Club stock Bullpen. Ice coffee is saving the day while China remains almost shut. As noted above, multiple price target hikes on the Street. Airbnb (ABNB) went for earnings-per-share not cash flow, which was a little lower. The new app is working. Cities getting more listings. CEO Brian Chesky says new app working as they give you places by category. ABNB and Uber (UBER) are doing better from that class of IPOs. Citi sees some caution on nights spent. But in interview for Tuesday’s “Mad Money,” we got nothing like that from Chesky. Bunch of price targets lowered. Elliot Management is liked by PayPal CEO Dan Schulman? At last, the eBay overhang is finished and the cadence was excellent. Will it merge with Elliot targeted Pinterest (PINS) instead of Pinterest having its own e-commerce system to develop? Multiple price targets now raised by Wall Street research houses. They had been cut before. PYPL soars 13% in the premarket. Citi cuts price target on Roku (ROKU) to $125 per share from $165 but keeps buy rating. Roku admits numbers were disappointing but says they’re taking with YouTube. SoFi (SOFI) revenue up 50% year over year. Interest income helped strong growth momentum and credit metrics. Stability of bank deposits. Upward guidance. Stock soars 12% in the premarket. CVS Health (CVS) quarter was good. Cost reduction initiatives sees full-year EPS $8.40 per share to $8.60 from $8.20 to $8.40 Illinois Tool Works (ITW) industrial guides up and sees PT increases. Is video gaming getting better? Electronic Arts (EA) had solid numbers and so did Nintendo. How is gaming really doing? Logitech ‘s (LOGI) stock is bottoming after Bracken Darrell said on “Mad Money” that it is strong. Piper cuts price target on Robinhood (HOOD) to $10 per share $11. Confusing numbers from HOOD. The actual cash position is rock solid. The money is still coming in but the investors are trashed. They want to do more crypto even as CEO Vlad Tenev says he has strict rules versus Coinbase (COIN), which SEC wants to regulate as an exchange (it has 200 cryptos) but CFTC, which is wildly pro crypto, wants in. Solana crypto ecosystem takes a new hit as thousands of its connected wallets are hacked. Caterpillar (CAT) downgraded to hold from buy (market perform from outperform) at Bernstein. End markets slowing. Demand about to fall significantly. Raymond James upgrades Uber to buy from hold (outperform from market perform). Strong mobility. Yum Brands (YUM) misses on quarterly earnings with $1.05 per share versus $1.09 expected. Worldwide system sales, excluding foreign currency (FX) fluctuations rose 3%. Breakdown: KFC up 1%, Taco Bell up 10%, Pizza Hut flat. Added 781 gross units. Same-store sales, including FX, KFC down 1%, Taco Bell up 8% Pizza Hut down 3%. Morgan Stanley: bear bounce or bigger breakout? China consumption is low. Consumer discretionary bad. Companies aren’t hiring HOOD, Meta Platforms (META), Microsoft (MSFT). Apple (AAPL) slowing. Morgan Stanley: Apple’s App Store net revenue growth in July decelerated to 1% year over year. But MS is keeping September-quarter forecast at 5%. (Jim Cramer’s Charitable Trust is long PXD, CTRA, DVN, HAL, CVX, AMD, META, MSFT and AAPL. 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 . 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Speaker of the U.S. House Of Representatives Nancy Pelosi, attending a meeting at the Legislative Yuan, Taiwan’s house of parliament on August 3, 2022. Photo by via Getty Images)

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House Speaker Nancy Pelosi’s visit to Taiwan is over. Tensions subside. World is divided into democracy and autocracy and we will defend Taiwan with everything we have. Declaration of independent. Pelosi met with Taiwan on semiconductors and talked about the CHIPs bill. South Korea’s Samsung and Hynix reevaluating investments in China because no subsidies.