Bullpen stocks, doubling down on Salesforce and Ford

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 Tuesday’s key moments. Deciding between two bullpen stocks Quick mentions: CRM, F 1. Deciding between two bullpen stocks The S & P 500 Short Range Oscillator continued to trend downwards following Monday’s sell-off, showing the market to be at its most oversold level since the onset of the Covid pandemic in March 2020. We made some buys on Monday to take advantage of the market declines – shares of Amazon (AMZN), Salesforce (CRM) and Honeywell (HON) – and are looking to put more cash to work. In this highly-oversold environment, the Club is considering adding a bullpen stock to our portfolio ahead of our next Club meeting in October. We have two main contenders: The first is Estee Lauder (EL), which had a standout performance in its latest quarter and is expected to continue to produce strong financial results. Additionally, the cosmetics conglomerate could benefit from looser Covid travel restrictions in China, where it maintains a strong presence and capitalizes on airport sales. The second potential bullpen stock is cybersecurity firm Palo Alto Networks (PANW), which showed strong profitability on a GAAP basis last quarter. Jim Cramer said earlier this week that cybersecurity is one of the only bull markets in the current inflationary environment, so owning shares of Palo Alto could be a strategic way to play it. 2. Quick mentions: CRM, F Here are also some quick takes on our Club names: Salesforce (CRM) continues to demonstrate strong earnings potential, and we are pleased with our decision to buy back more shares of the company. Jim Cramer said that investors who don’t own any shares of Ford (F) should buy “aggressively” here to take advantage of its 5% yield. While the company has struggled of late due to a $1.7 billion fine in connection with a truck rollover accident – compounded by supply shortages – we are still bullish on the stock. (Jim Cramer’s Charitable Trust is long AMZN, CRM, F, HON. 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.