My top 10 things to watch Tuesday, Feb. 24 1. The S & P 500 was headed for a flat open after yesterday’s brutal selloff. The decline in crypto continued this morning, with bitcoin below $63,000 as investors grapple with escalating tariff tensions. President Donald Trump will deliver his State of the Union address tonight. The economy and his trade policies are expected to feature heavily in his remarks. 2. The fallout from the Citrini paper will continue. I talked about it last night on “Mad Money.” I get the overvaluation of the enterprise software companies. ServiceNow is a perfect example because it has an aggressive buyback and big insider buying. Or Adobe , which is being replaced. Or Club name Salesforce , which has a seat problem. It doesn’t matter that software is cheaper than other sectors like consumer staples. I don’t know what price I should pay for companies that can be destroyed by a fictional research report. 3. Meta Platforms announced a multi-year chip deal with Advanced Micro Devices that involves deploying up to 6 gigawatts of AMD’s graphics processing units for data centers. This comes just a week after Club holding Meta committed to using millions of Nvidia GPUs as well. 4. Home Depot shares were up over 2% after the retailer delivered its first quarterly beat in four quarters. I was looking for cuts and shortfalls. We didn’t get them. It’s surprising but heartening, considering we own Home Depot for when Trump’s pick for Federal Reserve chair starts cutting interest rates. 5. JPMorgan upgraded Domino’s Pizza to a buy from hold. Analysts, who lowered their price target to $450 from $460, praised the company’s “steady share-taking” business model and described the company’s franchise-oriented business as “remarkably stable.” I really like this stock, and that’s because CEO Russell Weiner has made a well-oiled machine by integrating other delivery types. 6. TD Cowen cut its CrowdStrike price target to $480 from $580, reflecting the stock’s recent plunge. The Club name has lost 17% in back-to-back losses Friday and Monday on AI disruption concerns. It was steady this morning. TD Cowen analysts see CrowdStrike delivering largely in-line numbers when it reports earnings next week. We’re not giving up on the cybersecurity stock. 7. Big call: Deutsche Bank downgraded Blue Owl Capital to hold from buy and cut its price target to $10 from $15. Analysts are cooling on the alternative manager thesis. In my Sunday column , I unpacked the troubles facing Blue Owl and private equity at large due to exposure to enterprise software. I’ll explore that, and all the crosscurrents in the market during our Monthly Meeting for Club members this Friday. 8. Goldman Sachs raised its Quanta Services price target to $685 from $495 and kept its buy rating. Quanta, which builds and repairs critical infrastructure, saw benefits from data center expansion during last week’s earnings. Goldman analysts expect earnings per share (EPS) to grow at a 17% to 18% compound annual growth rate (CAGR) between 2025 and 2030. 9. Wells Fargo upgraded Qualcomm to a hold from sell with a price target of $150, up from $135. Analysts said the company’s data center strategy could drive positive investor sentiment. I think Wells was correct to have a sell rating on the stock, though. I would rather own Advanced Micro Devices. 10. The dilemma. Citi thinks MongoDB is still doing well. Analysts kept a buy rating on the database software provider. However, they cut their price target to $435 from $525. Who knows what the heck to pay for this stock, which has lost 27% this year. Wall Street analysts generally like MongoDB as a software stock that should not be lumped in with the rest. 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.
