adminEvery weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Here’s today’s edition. We have seen some strength come back to the S & P 500 since the Morning Meeting. These gains come despite an earlier uptick in Treasury yields. While the market is higher, it’s still very rotational as money is moving out of the Magnificent Seven mega-cap techs and flowing into other areas. That’s giving a boost to the broadening out of the market rally. While the tech sector is lagging Monday, shares of semiconductor-and-software stock Broadcom are surging roughly 9%. When the Club name Broadcom reported mixed quarterly results Thursday after the close, there wasn’t much activity on the stock. But as analysts digested the report, shares moved higher. This could be a result of CEO Hock Tan aggressively buying back stock like he said he would during the company’s post-earnings call before the end of the year. With Monday’s jump, Broadcom is on a three-session winning streak. Shares of Starbucks are also making a nice move Monday, up about 2%. The stock last Wednesday rose and broke a 12-session losing streak. What was needed for the stock to stabilize was the admission from CEO Laxman Narasimhan that China’s post-Covid recovery has progressed slower than expected. One notable laggard, however, is Eli Lilly . Shares are getting hit on data that was previously announced but published in the American Medical Association. The report showed that users of Lilly’s drug Zepbound regained roughly half the weight they lost when they stopped taking the drug. We don’t understand why the stock would drop — because if you gain half the weight back after stopping the use of the medication, that only strengthens the argument for people to keep taking it. That would be positive for Lilly. Part of the decline Monday could be attributed to money rotating out of year-to-date winners. Eli Lilly has significantly outperformed other pharma stocks over the past two years. (See here for a full list of the stocks in 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.
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