3 takeaways from our daily meeting: Halliburton earnings beat, Club stocks in the news, TJX is best-of-breed
by by 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. HAL earnings beat Club stocks making news: STZ, LIN TJX is a best-of-breed stock 1. HAL earnings beat Halliburton (HAL) beat earnings and revenue expectations in its third-quarter results, reported before the bell on Tuesday. The company saw solid cash flow generation and paid out $600 million in debt obligations, a sign the oil services firm is cleaning up its balance sheet. The company also provided a strong fourth-quarter outlook, and we believe that earnings estimates could go even higher. The Club remains bullish on the stock. 2. Club stocks in the news Constellation Brands (STZ) announced plans to convert its common stock holding in Canopy Growth (CGC) into new exchangeable shares, as the Canadian cannabis company moves to consolidate its U.S. assets into a new holding company. The Club continues to back Constellation, a growing beer maker with strong cash flow that should see tailwinds from declining costs. Shares of STZ climbed 2.75% on the back of the news, to $236.07 a share. Industrial gas giant Linde (LIN) on Monday proposed a vote to delist from the Frankfurt Stock Exchange. Although its delisting could create some forced selling pressure in the short term, we believe this is a positive initiative that will ultimately help insulate Linde from volatility in the German stock market and eliminate required sales related to quarterly index rebalancing. Shares of Linde had fallen Monday on the news but were recovering Tuesday, trading up nearly 3%, at $285.91 a share. 3. TJX is a best-of-breed stock Morgan Stanley increased its price target on TJX Companies (TJX) to $80 from $77, citing a significant recovery in the company’s margins. Shares of TJX rose 2.79%, to $71.11 a share, on Tuesday. At the same time, Wells Fargo upgraded TJX-competitor Ross Stores (ROST) to overweight. Nonetheless, we’re sticking with TJX, as we continue to believe its a best-of-breed off-price retailer and the surest way for investors to play the retail inventory glut. (Jim Cramer’s Charitable Trust is long HAL, LIN, STZ, TJX. See here for a full list of the stocks.) 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.