Every weekday, the CNBC Investing Club with Jim Cramer hosts a live “Morning Meeting” at 10:20 AM ET. Here is a summary of the key points of the environment. Hold on to recession-resistant stocks. Brief mentions: PG, HAL, PXD, DIS 1. Hold on to recession-resistant stocks. Namely, we like stocks in the healthcare, financial and energy sectors. Health care and energy are still needed amid the economic downturn, and banks are benefiting from higher interest rates. “We are solely focused on … companies that are doing well during a recession and we encourage you not to sell them, especially those with excellent balance sheets,” Jim Cramer said Wednesday. Stocks were mostly down, with the S&P 500 down 0.38% after two consecutive days of gains. We believe that the market simply does not have what it takes to sustain sustained growth given persistent headwinds such as rising interest rates, a strong US dollar and persistent inflation. 2. Quick Club Mentions: PG, HAL, PXD, DIS Procter & Gamble (PG) outperformed Wall Street’s earnings and earnings estimates for the latest quarter released Wednesday. dollar. We believe that the company’s results demonstrate the willingness of consumers to pay for quality products, despite rising prices, and remain optimistic about its shares. Shares of PG rose about 2% in mid-morning trading, at about $131 a share. Jeffreys initiated Halliburton (HAL) stock coverage with a $40 target price and a Buy recommendation. We like HAL, especially because of its strong free cash flow growth, and we support the oilfield services company. HAL shares rose more than 3.5% on Wednesday, at about $31.5 a share. Morgan Stanley downgraded Pioneer Natural Resources (PXD) to “lower”. However, we believe that CEO Scott Sheffield is pointing the company in the right direction and recommend that investors buy the stock on any weakness. “In the oil business, you go with an operator,” Jim said. Netflix (NFLX) on Wednesday said it added 2.41 million net global subscribers in the third quarter, more than double the growth the company forecast a quarter earlier and beat earnings and sales estimates. Shares soared more than 14% on the news. While we do not own Netflix, we believe this is a positive sign for the Disney Owning Club (DIS) and encourage investors to buy shares. Disney shares rose more than 2% in mid-morning trading, up about $100.55 a share. (The Jim Cramer Charitable Foundation is long DIS, HAL, PG, PXD. See the full list of stocks here.) As a CNBC Investing Club subscriber with Jim Cramer, you will be notified of the trade 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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