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 Monday’s key moments. Stocks on Monday were bouncing back from last week’s sell-off, with the S & P 500 and Nasdaq Composite both solidly in the green. Tech is showing signs of strength Monday, but Jim Cramer cautioned that the recently hard-hit group isn’t out of the woods yet. That includes Nvidia, which is up about 2% to kick off the week. “I’m negative on Nvidia short-term. I still think it has a lot of headwinds,” he said. Jim offered his latest thinking on the “Magnificent Seven” tech stocks, including Nvidia, in his Sunday column . Brian Niccol started as CEO of Starbucks on Monday, roughly a month after the surprise announcemen t that the former Chipotle chief would replace Laxman Narasimhan. Starbucks shares have held onto most of their nearly 25% one-day surge in response to Niccole’s hiring, though they have drifted a little lower alongside the broader market in recent sessions. Jim said it’s tempting to want to lock in modest profits after battling this stock, and then buy back lower. “I’d rather not play that game,” he stressed. On Monday, BMO Capital Markets raised its price target on Starbucks to $110 a share from $110, citing the potential for a faster-than-expected positive catalyst cycle as Niccol and Co. provide more clarity on strategic priorities and plans to execute them. Tesla and Club name Eaton on Monday announced a collaboration designed to make home energy storage easier. Starting next year, Tesla’s Powerwall home battery will be compatible with Eaton’s new smart breaker system, known as AbleEdge. Shares of Eaton were up about 2% Monday. Jim called Eaton a buy on the announcement. He believes shares of Eaton have plenty of more room to run since “the grid is short of electricity and … Eaton can produce more electricity.” (Jim Cramer’s Charitable Trust is long NVDA, SBUX, ETN. 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.
