Every weekday, the CNBC Investing Club with Jim Cramer hosts a live “Morning Meeting” at 10:20 AM ET. Here is a summary of Thursday’s highlights. Be careful with Fed news We have reduced our position in COST Humana raises forecast 1. Be careful with Fed news. This followed a bounce on Wednesday following Federal Reserve Chairman Jay Powell’s announcement that the central bank could slow the pace of interest rate hikes as early as December. We remind investors to contain their excitement. While it’s good news that the central bank may be easing, it also means that its plan to hit the economy is working. In other words, we urge investors to be mindful that some companies will still be unable to meet their earnings forecasts, rather than believing that all is well now. 2. We have reduced our position in COST. We sold 55 shares of Costco (COST) at about $523.80 on Thursday morning after the company reported retail sales in November that showed signs of weakness. While global like-for-like sales rose for the month, the company missed out on its main results and saw a marked slowdown compared to October’s main growth. We continue to view Costco as a phenomenal retailer, but are more cautious in case there is a clear slowdown in sales in November. 3. Humana raises its forecast Humana (HUM) on Thursday raised its 2023 membership forecast for its individual Medicare Advantage business and reiterated its 2022 adjusted earnings forecast. The news is notable as investors are concerned that managed care providers like Humana could see their revenues hurt by an elevated flu season. We still like the company and its shares. (The Jim Cramer Charitable Foundation has a long VALUE, HUNG. See here for the full list of stocks.) As a CNBC Investing Club subscriber with Jim Cramer, you will receive a trade notice before Jim completes the trade. Jim waits 45 minutes after sending a trade alert before buying or selling shares in his charitable foundation’s portfolio. If Jim was talking about a stock on CNBC, he waits 72 hours after a trade alert is posted before making a trade. THE ABOVE INFORMATION ABOUT INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY RESPONSIBILITIES OR OBLIGATIONS ARE OR ARISING IN CONNECTION WITH YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT IS GUARANTEED.
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