Clorox – The consumer products giant saw a huge earnings beat. It’s also rebounding from last year’s cyberattack. “Things are back online, and there’s tremendous demand for their product,” Jim said Friday’s Morning Meeting rapid fire. Tesla – The EV leader issued a recall for 2.2 million cars over a warning light issue. Remember, our Super Six means get rid of Tesla; no more Magnificent Seven. Jim said maybe don’t buy the slide. “I urge people to rethink that maybe [Elon Musk] is not as interested as being CEO anymore.” Bristol-Myers Squibb – The drugmaker’s shares were up after an earnings beat and a higher-than-expected 2024 outlook. “A five-year plan on Bristol Myers,” Jim said, unless the company can get more drugs to work out. Members of the CNBC Investing Club know that Eli Lilly is our favorite drug stock. Abbvie – The drugmaker delivered a mixed quarter to some but raised its forecast. Abbvie lost exclusivity on blockbuster Humira. The stock holding up shows “they’ll be able to handle the valley,” Jim said. Exxon and Chevron – The two oil majors were up on earnings. Chevron was 3% higher after raising its dividend after rumors that it would be unable to pay it. Jim said, “If you have to own oil, we like Coterra ” and own it for the Club. He likes Chevron better than Exxon.
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