My top 10 things to watch Tuesday, Nov. 3. 1. It’s Election Day. In the midterms, if Democrats were to take the House, the Senate, or both, the AI trade could come under pressure. We also need to see if the anti-data center rhetoric turns into action in the voting booth. Oil is down for a second day on hopes for a diplomatic solution to the Iran war. Bond yields are up a bit this morning, putting a lid on stocks. 2. Apple’s service line showed some deceleration . It’s often viewed as free profit. Funny because CEO John Ternus told me that they could have more features. I am not all that worried about services as I am about prices due to high memory costs. Apple shares are down about 4%Â this morning. We warned Club members that Apple may fall. The Club stock rallied into the print and closed at a record high last Thursday. 3. Palantir is down 6% after earnings. Some people are worried about the fourth-quarter guidance implying a sequential slowdown in revenue growth. But I do not understand how you could be worried about a slowing here, unless you’re trying to will this stock lower. On the “Rule of 40” test for revenue growth and operating margin, Palantir is at 158%. They’re obsessed with turning tokens into economic value. 4. CrowdStrike CEO George Kurtz introduced today the AI kill switch that we have been waiting for. This is the one thing that can stop the agents from destroying us. The company said humans are in full control of the kill switch. How does it work? “An authorized administrator triggers the action, and every action is recorded in the audit trail,” according to CrowdStrike. 5. Here come the Marvell downgrades on the Lumentum acquisition. TD Cowen and Bank of America both cut their ratings on the chipmaker to hold from buy on concerns about deal overhang. Marvell shares have fallen at least 10% in three straight sessions since reports of the takeover first surfaced. That says some think Marvell stock should never have been that high. It was not emphasized how strong Lumentum’s optics business is. 6. Anthropic’s amended IPO filing : $17 billion in Q3 revenue; purchase commitments of $895.4 billion. The initial prospectus was out last week but only included financials through the first half of the year. According to consumer-insights firm HundredX, Anthropic’s Claude lead over chatbot peers is still great despite October use intent slipping to 28% from 34% in September. Still best-in-class. 7. Solid beat-and-raise quarter from DuPont . The specialty materials supplier, which we own for the Club, exceeded consensus on basically every line, including cash flow. Nice growth in the healthcare, aerospace, and industrial water end markets. Also buying back stock. Fourth-quarter profit guidance was above the Street. DuPont is up 2% on the print. 8. Club name Eaton beat on the top and bottom lines for the third quarter. Organic sales growth of 19% also came in solidly above the consensus. The electrical equipment supplier’s aerospace segment was a little light, but we own this one for the data center exposure. That business was up 65% year over year. Earnings guidance looks good. Shares are up about 2%. 9. Bloom Energy is up about 6% after a terrible three-session slide. This stock is volatile but still up 125% year to date. Barclays upgraded Bloom to a buy from hold on ramping demand. Bloom makes onsite fuel-cell systems that generate behind-the-meter electricity. Key for data centers. The analysts, however, cut their price target to $289 from $316. This one is in no man’s land. I don’t know where it can land. 10. Lots of price target hikes on the Street for Clorox . Wells Fargo is among them, going to $90 from $85. Kept its hold rating. I think people are looking for a new soft goods company, and the one they like is Colgate . But Clorox, with a new CEO coming in, is a close second. In consumer packaged goods, we own and like Kimberly-Clark . Yesterday, the Huggies and Kleenex company completed its purchase of Tylenol and Band-Aid maker Kenvue. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Jim Cramer’s top 10 things to watch in the stock market Tuesday
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