Palo Alto Networks (PANW), like they say in the horse Racing Form: "going away." This thing has just pulled ahead after CEO Nikesh Arora took it from being a firewall company to being cloud native and hybrid cloud security play. What a fantastic quarter. The stock jumped more than 10% in Tuesday's premarket. PANW is in the Club Bullpen, which is our watch-list for stocks we're considering add to our portfolio.
Zoom (ZM), down over 12% in the premarket, frankly is falling very hard from perch and doesn't really want to acknowledge that it's because of Club holding Microsoft's (MSFT) Teams. Zoom is falling behind in consumer and going nowhere in enterprise. They're trying to create a call center business, but it isn't really going anywhere.

Dick's Sporting Goods (DKS) is a welcome relief: quarterly beats, raises and strong sales. CEO Lauren Hobart says inventory in good shape. This should help Dow stock Nike (NKE), which sells a lot of stuff at Dick's.
Macy's (M) quarterly earnings and revenue beats. Comp sales owned-plus-licensed stores down 1.6% versus down 2%. OK, no evidence of trade down. Brands: Bloomingdale's up 8.8%, Bluemercury up 7.6%. 49 million active customers shopped namesake as well as Bloomies' and Bluemercury. High inventory away from discretionary categories.
AMC Entertainment (AMC) plus the preferred APE units, which started trading Monday, together trade at just over $16 compared to AMC's Friday unadjusted close of $18-per-share. Adjusted for the APE-effect, AMC shares dropped 5.5% on Monday. The APE units named after what meme stock investors call themselves, "apes" was designed to reward these AMC enthusiasts and as a tool to raise cash in the future.
UBS sees Walmart (WMT) and Target (TGT) as beneficiaries of the Bed, Bath & Beyond (BBBY) disaster: WMT gets 2% bump and TGT gets up to a 1.5% boost.
Citi keeps a buy rating on Warner Bros. Discovery (WBD) despite lowering its price target on the stock to $21 per share from $29. UBS keeps neutral (hold) rating on WBD, but also lowers its PT to $15 from $27.
Citi still likes mobile-centric AppLovin (APP) lowers its price target to $60 per share from $62. But this thing has been a disaster: down nearly 73% year to date.
Deere (DE) price target raised to $425 per share from $320 at Citi. Every single firm that covers it has now raised their PTs. This is a good one to watch if the market falters further. The stock is up nearly 8% year to date compared to the S&P 500's 13% decline in 2022.
Citi lowers its price target to HP Inc. (HPQ) to $37 per share from $40. Analyst Jim Suva likes HPQ's acquisition of workplace collaboration provider Poly. I didn't like It at all. Just crummy Logitech (LOGI)-like commodity supplier.
Contrary call: Citi takes online pet supplier Chewy (CHWY) price target up to $44 per share from $29 on hope for better sales.
Wedbush meets with Denny's (DENN) management and likes what it saw; takes price target on the restaurant chain to $12.50 per share $10 and upgrades the stock to outperform from neutral (buy from hold).
JD.com (JD) typical phony beat by Chinese company to suck in Americans and all the research analysts will play along because they have nothing else to do.
Swiss-based eyecare device maker Alcon (ALC) to buy Aerie Pharmaceuticals (AERI), a glaucoma early-stage drug company, for about $753 million. That's a 37% premium to Aerie's closing price Monday. The stock is up just about that in the premarket.
Wolfe Research reiterates its DoorDash (DASH) price target of $110 per share, cites solid fundamentals.
People and pet food company J.M. Smucker (SJM) boosts earnings-per-share. Cat food the star: up 24%; Dog food: up 18%; Dog snacks: up 14%.
Deutsche Bank and UBS raise their price targets on Foot Locker (FL). I think it's because of new Foot Locker CEO Mary Dillon, who formerly led Ulta Beauty (ULTA).

(Jim Cramer's Charitable Trust is long MSFT. See here for a full list of the stocks.)

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