By Watson Greey
#Breaking News: Business #Breaking News: Markets #Breaking News: Technology #Broadcom Inc #business news #Costco Wholesale Corp #Cybersecurity #DocuSign Inc #Investingclubsample #Investment strategy #Jim Cramer #Kroger Co #Laws #Markets #morningmeetingrapid #Music #Palantir Technologies Inc #Palo Alto Networks Inc #Retail industry #Spotify Technology SA #stock takes #Super Micro Computer Inc #technology
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Costco – Longtime CFO Rich Galanti will be stepping down, effective March 15. “They have a really firm hand from [Gary] Millerchip, CFO of Kroger , who is very, very good. Rich will stay on and teach him,” Jim Cramer said Tuesday. Costco, a stock in the CNBC Investing Club portfolio , reports its January sales Wednesday evening. Broadcom – JPMorgan reinstated coverage on Broadcom , also a Club stock, following a period of restrictions. The analysts put the chip designer on their Focus List, with a buy-equivalent rating and price target of $1,550 per share. “If it were yesterday, this call would have made us a lot of money because it was a kind of fired-up call,” Cramer said. But coming Tuesday, investors were not enthused, thinking the stock was played out like Super Micro Computer . Jim said of Broadcom: “Those who don’t own this stock, I’d still buy it.” Spotify – Shares of the streaming music powerhouse were sharply higher on a stronger first-quarter outlook. “Gross margins are really good. Signups are good. And the company laid off a lot of people. That’s why gross margins went up,” Jim said. Palantir – The stock was up big after quarterly revenue growth of 20% year over year, driven strength in AI. “They are really cyber terror. They’re not cyber. They are actually terror,” Jim said, meaning Palantir focuses its big data protection against cyber terrorists. It has lots of government contracts. Club name Palo Alto Networks differs as it’s pure cybersecurity more broadly. DocuSign – Shares of the online signature provider were down after announcing layoffs, a reduction of 6% of its workforce. DocuSign was up last month on buyout rumors that didn’t materialize. “They didn’t get the bid,” Jim said. “They have a bad business.”
