Every weekday, the CNBC Investing Club with Jim Cramer will host a “Morning Meeting” live stream at 10:20 AM ET. Here’s a recap of Thursday’s key moments. Don’t sell Meta Look past Eli Lilly’s tough quarter Opportunity to buy Estee Lauder 1. Don’t sell Quarterly earnings outperformed Wednesday night, announcing plans for a $40 billion share buyback. This quarter was exactly what we were waiting for. It showed that the company is serious about controlling costs. CEO Mark Zuckerberg on Wednesday called 2023 the “year of efficiency” and lowered Meta’s 2023 cost outlook by $5 billion. We hold shares in Meta and expect the stock to rise further if Zuckerberg keeps his promise to keep spending down. 2. Eli Lilly’s (LLY) stock fell about 6% Thursday morning to about $322 a share, reflecting on Eli Lilly’s tough quarter. But that’s due to shortages due to high demand, and the company plans to increase manufacturing capacity this year. Eli Lilly is still a strong multi-year story and investors are advised to ignore the current decline. 3. Opportunity to buy Estée Lauder Estée Lauder (EL) said Thursday that it expects full-year earnings to fall significantly below initial expectations amid uncertainty over China’s reopening. The cosmetics company, which relies on China for more than a third of his total revenue, has been affected by the Chinese government’s strict zero-coronavirus policy for the past three years. However, we expect the Covid-related headwinds to dissipate by the end of next quarter and the stock to surge. Here we are the buyers, not the profit takers. (Jim Cramer’s Charitable Trust is Long EL, LLY and META. For a complete list of stocks, see here.) As a subscriber to Jim Cramer’s CNBC Investing Club, you can trade before Jim makes a trade. Receive an alert. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable trust portfolio. If Jim talks about his stock on his CNBC TV, he will wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duty or obligation exists or is created by your receipt of any information provided in connection with The Investment Club. No specific results or benefits are guaranteed.
