My top 10 things to watch Friday, June 13 1. U.S. stocks are pointing to a lower open following news that Israel struck targets in Iran overnight in what Israel is calling a preemptive strike. Oil, on the other hand, rose: Brent crude futures and West Texas Intermediate crude futures both jumped more than 8%. Gold is also up, adding to its recent gains. 2. American Electric was initiated with an outperform rating and $115 price target at Raymond James, which said it stands out as one of the largest electric utilities in the U.S., with lots of potential to improve relationships with regulators under its new leadership. Industry veteran Bill Fehrman was named CEO in August. 3. Wolfe Research downgraded GE Vernova to a hold-equivalent, citing valuation while conceding that it “remains one of the most compelling equity stories in our coverage, with the broadest array of exposures to electrification investment, including the ongoing AI/DC build out and the emerging renaissance of nuclear power generation across the globe.” We currently have a 2 rating on shares, with a price target of $500. 4. Linde was initiated with an outperform rating at RBC Capital and a $576 price target. The analysts cited a “sticky customer base,” strong backlog, stable earnings profile, and an expectation that double-digit earnings growth will continue on an FX-neutral basis. 5. Wells Fargo raised its price target on Microsoft to $565 from $515 and reiterated it a buy, said it expects another second half of the year rebound in the software sector. 6. Bloomberg reported that Apple is targeting a spring 2026 release for its long-delayed upgrade of Siri with AI. We were disappointed by Apple’s big developers conference Monday, even as we came to it with low expectations. 7. Apple’s iPhone claimed the top spot in China for May smartphone sales, Reuters reported . April and May saw 15% year-over-year growth in global sales, the strongest two-month period since the Covid-19 pandemic. Apple shares were up slightly this morning. 8. RBC upgraded shares of Oracle to an outperform buy rating and upped its price target to $235 a share from $200. After a strong earnings report, the analysts have increased confidence that its operating income will grow in the double digits over the next two years. 9. Raymond James lifted its price target on Club name Coterra Energy to $38 a share from $33, with analysts also reiterating their outperform buy rating. Coterra shares are catching a bid this morning, thanks to the move in oil. But the durability of the spike is an open question, depending on where Israel-Iran tensions go from here. 10. Walmart and Club name Amazon are considering issuing their own stablecoins in the U.S., according to a report in The Wall Street Journal . The move would save in transaction fees as it would bypass traditional payment rails. 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 Friday
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