Jim Cramer’s top 10 things to watch in the stock market Wednesday

US President Donald Trump displayed on a television during a news broadcast on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, Jan. 21, 2025. 

Michael Nagle | Bloomberg | Getty Images

1. Wall Street was tracking for a higher open on strong earnings after the S&P 500 and the Dow both rose Tuesday for the fifth straight session. The Nasdaq logged back-to-back gains. We looked how President Donald Trump‘s new initiatives will impact our Club portfolio stocks.

2. Netflix delivered monster quarterly beats on the top and bottom line, and the stock soared 15%. The streaming giant added a huge number of new customers, a record 19 million.

3. United Airlines reported blowout quarterly numbers, crushing estimates on earnings per share and revenue.  Pricing power was on display. Higher prices but better EPS.

4. GE Vernova pulled in huge orders. The company saw a big return to nuclear from existing stock. Trying to meet demand. Trying to hire. Strong on natural gas and electrification.

5. Club name Abbott Laboratories matched estimates on quarterly earnings and missed on revenue. Technically, full-year earnings per share guidance missed by a penny at the midpoint. I think management was being conservative with the outlook.

6. Dow stock Johnson & Johnson saw better than expected quarterly earnings on cancer drug growth. Huge numbers for Stelara for Crohn’s disease and Darzalex for multiple myeloma.

7. Procter & Gamble, also a Dow stock, beat on quarterly EPS and revenue with good organic sales growth. Excellent acceleration in growth. P&G also reiterated fiscal 2025 guidance.

8. Lead article in the medical journal Lancet: “Elevated blood pressure is the most important risk factor for cardiovascular disease.” Initial readouts show that GLP-1s can reduce blood pressure. Club name Eli Lilly and Novo Nordisk dominate in GLP-1s.

9. Morgan Stanley cut its Microsoft price target top to $540 per share from $548 but likes the set up ahead of next week’s earnings because of low expectations. I’ll let members know how I feel about the Club name at our Monthly Meeting at noon ET on Thursday.

10. It’s now Barclays’ turn to lower its price target on Club name Apple ahead of next week’s earnings. The analysts cut their PT by $1 per share to $183 and kept their sell-equivalent rating. I talked Tuesday about how we made so much money on Apple stock for the Club over the years.

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