Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. U.S. stocks were lower Tuesday after the Dow hit a record close to start the week. Investors were digesting quarterly earnings from four stocks in the Dow 30. Shares of Procter & Gamble , also a Club name, were up more than 4% after posting better-than-feared fiscal results. P & G’s post-earnings conference call was generally positive. Later, we’ll put out our in-depth earnings analysis. Watch your texts and email inboxes. Also on the positive side, Verizon shares shot up 5.5% on quarterly results, too. Major Dow stock laggards were 3M and ex-Club name Johnson & Johnson , which shed roughly 10% and 2%, respectively, on underwhelming releases. 2. Wall Street just issued another bullish call on Club stock Microsoft. Morgan Stanley analysts increased their price target to $450 per share from $415, saying the tech giant’s generative artificial intelligence products will help drive market share gains in 2024. We also think these offerings, along with cloud computing segment Azure, are a big part of Microsoft’s long-term growth prospect. Morgan Stanley, which maintained its buy-equivalent rating, said its January CIO survey indicated that 68% of companies plan on using Microsoft’s AI solutions over the next year. Jim Cramer on Tuesday described the sentiment of the note as telling investors: “If you don’t own Microsoft then you don’t know what you’re doing in the stock market.” 3. JPMorgan analysts trimmed their Starbucks price target to $108 per share from $110 but maintained a buy-equivalent rating. Ahead of Starbucks’ Jan. 30 earnings release, the analysts acknowledged the company may miss on comparable sales. However, they said improvements to Starbucks’ profitability may help protect its earnings. Wells Fargo echoed these sentiments and added that an earnings miss is already priced into the stock. Jim said…
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