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 Thursday’s key moments. DIS buying opportunity CRM downgrade Costco earnings 1. Disney buying opportunity Shares of Club holding Walt Disney (DIS) saw an uptick following the return of CEO Bob Iger to the top job last month, climbing to around $99 a share at the start of December. But those gains have since been erased, providing a buying opportunity for investors on Thursday. The stock was trading up slightly in midmorning trading, by 0.38%, at $92.50 a share. Thursday also marks the day that the company’s streaming service, Disney Plus, implements a price increase for its ad-free membership tier . We are disappointed that the company has yet to acknowledge its dismal balance sheet. However, we know that Iger is capable of running the streaming side of Disney, while theme parks continue to do well on the back of a travel boom. “I don’t have a bear case down here,” Jim Cramer said Thursday. 2. Salesforce downgrade Baird on Thursday downgraded Salesforce (CRM) to neutral from outperform and cut its price target to $150 from $200, citing execution risk in an uncertain macroeconomic environment. The downgrade comes on the heels of the company announcing the departures of co-CEO Bret Taylor and Slack CEO Stewart Butterfield. We are sticking with the stock for now, since we believe Salesforce is a well-run company with tangible products. Salesforce was trading down 0.18%, at $130.24 a share, in midmorning trading. 3. Costco earnings Costco Wholesale (COST) is set to report fiscal first-quarter earnings on Thursday after the closing bell. We’ll be watching for an improvement to its gross margin, along with potential mentions of membership fee increases and special dividends. “They remain the most formidable company in the food and staple and hard goods business in this country,” Jim said. (Jim Cramer’s Charitable Trust is long COST, CRM, DIS. 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.
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