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 Friday’s key moments. Stick with Costco Watch Eli Lilly Own Apple 1. Stick with Costco Shares of Club holding Costco Wholesale (COST) were trading down more than 3% Friday morning, a day after the retailer reported fiscal second-quarter results that showed weakening sales. But the stock also has a history of trading lower on quarterly earnings because the company’s monthly sales reports price in a lot of potential upside. Overall, Costco delivered a solid quarter, including a beat on profit. And if the membership-only retailer were to announce a fee increase and dividend, it would likely push the stock higher. We still view Costco as the best-run retailer in the U.S. and are sticking with the company for the long run. 2. Watch Eli Lilly Morgan Stanley named pharmaceuticals Club holding Eli Lilly (LLY) a “catalyst driven idea” in a research note this week after competitor Novo Nordisk (NVO) announced it will conduct an obesity study aimed at showing “weight management saves lives.” Novo Nordisk is Eli Lilly’s main competitor in diabetes drugs that also have the potential to be prescribed as weight-loss treatments. If the results of the trial are favorable, there’s a greater possibility for the medications to receive broader insurance reimbursement for weight management purposes. Morgan Stanley predicted the results could lead to a 5% to 10% upside for both Novo and Eli Lilly shares. Eli Lilly stock was up more than 1% Friday morning, at $318.47 a share. 3. Own Apple Morgan Stanley confirmed Club holding Apple (AAPL) as its top pick for 2023, due to “underappreciated catalysts” like growing iPhone sales and related services growth, margin expansion, and fresh product launches. The firm increased its price target on to the stock to $180 per share from $175 and reiterated an overweight rating. Shares of the iPhone maker rose more than 2.6% Friday morning, to $149.73 apiece. We maintain our “own it, don’t trade it” mantra on Apple and confirm our 1 rating on the stock. (Jim Cramer’s Charitable Trust is long COST, LLY, AAPL. 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.
