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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 rise Exiting J & J Stick with Salesforce 1. Stocks rise U.S. stocks edged higher Monday morning, as Wall Street looks ahead to another busy week of earnings. The S & P 500 rose 0.09%, while the tech-heavy Nasdaq Composite climbed 0.18%. Markets seem to be reacting to the slew of upbeat corporate results, while shrugging off the Federal Reserve’s latest interest-rate hike . And that’s a narrative that’s guiding our investing moves, as a slate of Club holdings continue to demonstrate solid fundamentals. 2. Exiting J & J The Club sold 500 shares of Johnson & Johnson (JNJ) Monday morning, closing out our position in the pharmaceuticals firm. We’ve realized small gains based on J & J’s premarket price. Johnson & Johnson is facing a slew of legal troubles and there’s no resolution in sight. Although it’s a solid company, the legal risk and uncertainty is enough to sell our shares. “I’m done with being hostage to law firms, who [are not] telling the truth, and judges,” Jim Cramer said Monday. Now, the Club is eyeing names like BlackRock (BLK) and Mastercard (MA), to name a few. 3. Stick with Salesforce Shares of Salesforce (CRM) came under pressure Monday after the software company received a downgrade from Morgan Stanley. The firm lowered its rating on Salesforce to equal weight, or neutral, from a buy equivalent, while raising its price target on the stock to $278 a share, from $251. The Club recommends not selling shares prior to Salesforce’s massive annual conference, Dreamforce, in mid-September, which will likely be a catalyst event for the stock. (Jim Cramer’s Charitable Trust is long CRM. 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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