Jim Cramer’s prime 10 issues to look at within the inventory market Wednesday

1. Membership title Eli Lilly crushes Novo Nordisk within the first head-to-head trial evaluating their weight problems medication. Membership title Lilly’s Zepbound generated weight lack of 20% on common after 72 weeks versus about 14% for Novo’s Wegovy. Is that this the tip of Novo instead? I do not imagine Lilly has anyplace close to the capability it now wants to satisfy the demand (but).

2. With its robust earnings report Tuesday evening, Salesforce has formally unleashed Agentforce, its new AI instruments platform, and the idea of a digital workforce as a option to do gross sales. CEO Marc Benioff once more criticized Microsoft‘s competing Copilot providing, suggesting it is irrelevant. Cannot even quantify the scale of the chance. In response to the quarter, we raised our value goal on the longtime Membership holding.

3. Marvell Know-how shares are up greater than 13% on earnings. The semiconductor agency is a juggernaut working within the knowledge middle with Jensen Huang’s Nvidia to supply optical connectivity tech, but additionally with Amazon Internet Providers on its customized silicon — and apparently Alphabet‘s Google and Microsoft, too. However the primary accomplice is Nvidia, and Marvell stated it is monitoring approach forward of its AI income forecasts offered at an April analyst assembly. We personal Nvidia, Amazon, Alphabet and Microsoft for the Membership.

4. Shares of Pure Storage are surging over 20% on blowout quarterly outcomes and steering, whereas additionally saying a contract with an unnamed “prime 4” AI hyperscaler. Little question the supplier of flash knowledge storage will see an acceleration of enterprise because of this. Piper Sandler upgraded the inventory.

5. Add Okta to the blowout earnings pile. The id platform supplier beat estimates with quarterly earnings and income. It additionally raised steering, serving to the inventory soar roughly 13%. I am speaking to Okta’s CEO on “Mad Cash” later. In the meantime, cloud safety agency Zscaler fell Tuesday on disappointing numbers.

6. Normal Motors expects a greater than $5 billion affect from restructuring its three way partnership in China. It is writing down the worth of the JV by between $2.6 billion and $2.9 billion, whereas the rest is tied to different prices similar to plant closures. China has been backing its home producers lately, hurting the likes of GM.

7. Palantir introduced late Tuesday that it was granted authorization to supply cloud and the remainder of its merchandise throughout the federal authorities. The inventory, already up greater than 300% 12 months so far, gained practically 1% early Wednesday after closing practically 7% larger within the prior session.

8. What’s behind the shortfall in outlook at Foot Locker heading into the vacation procuring season? CEO Mary Dillon advised CNBC that the corporate sees “softness” at Nike. Foot Locker’s reported quarter missed. The inventory dropped greater than 18% on the information.

9. Goldman Sachs sees blended demand at Tesla. The analysts stated EV supply development targets for 2024 are working brief, however they anticipate the automaker to make use of incentives meet quantity targets. Tesla must Mannequin Y inventories forward of recent version, the Goldman be aware stated.

10. Greenback Tree reported quarterly beats on earnings and income. Gross sales on the firm’s namesake chain and Household Greenback rose 1.8% and 1.9%, respectively. Greenback Tree CFO agreed to step down. The corporate famous strategic alternate options for Household Greenback are nonetheless on observe.

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