Disney wins the Nelson Peltz chessboard battle.2 other portfolio stocks making a comeback

Every weekday, CNBC Investment Club with Jim Cramer publishes Homestretch—an actionable afternoon update just in time for the final hour of trading on Wall Street. (We’re no longer recording audio so we can get this new written feature to members as soon as possible.) Market Rebound: Stocks Open New Trading Week with Higher Prices, Driven by Strength in Big Tech Stocks on Nvidia’s GTC Before the meeting, there were reports that Apple might work with Alphabet to bring Gemini AI models to the iPhone. The report eased concerns about Gemini’s credibility and pushed Alphabet shares to their highest level since early February. Disney wins: A key proxy adviser in Disney’s board battle with Trian. Glass Lewis said on Monday it recommended that Disney shareholders vote for company director candidates other than the slate proposed by Trian’s Nelson Peltz. Disney’s annual meeting will be held on April 3. While Glass-Lewis’ decision may hamper Trian’s chances of getting enough votes to add Peltz and former Disney CFO Jay Rasulo to the board, Jim Cramer still sees merit in the race. “The Disney board is dysfunctional, but the stock is moving higher due to pressure from activists. That pressure is good. Nielsen is highly regarded as a board member of Procter & Gamble, Mondelez International, and Heinz. I’m not disgusted. But the stock went higher.” Comeback: GE Healthcare shares are back above $90 a share, capping two consecutive positive sessions. That’s a good sign considering GE’s stock fell about 3.6% to $88.48 last Wednesday after it announced it was selling 14 million shares in a secondary offering. “GE Healthcare pretty much eats up GE’s block. The company works closely with Nvidia on artificial intelligence. Nvidia mentions the company in its healthcare work,” Jim said. Shares may also be boosted by signs that China is providing stimulus for hospitals and teaching equipment. Analysts at Evercore ISI commented on the move on Friday, noting that it should also provide a boost for life science tools companies like club name Danaher. Another company that is recovering is DuPont, which needs to hit $74.69 to fully recoup all losses from January’s poor preview. The company’s management team has spoken at several investor conferences recently, noting that orders have risen to the low double digits from 8% when they reported. The growth in orders puts us on track to see a quarter where the water and conservation business will hit bottom. But electronics are the best part of the company’s growth story, and perhaps the recent resurgence reflects the strength the company is seeing in that area. Jim said: “DuPont must have seen the beginning of mobile phones. Maybe Samsung.” Remember, DuPont is also involved in more advanced chips, and TSMC is one of its major customers. Quick click: “With PepsiCo’s upgrade, concerns about GLP-1 use affecting the beverage and snack group may subside. That’s a good sign for those worried about Constellation Brands, which has been strong of late,” Jim explain. Citigroup launched an “active catalyst watch” on Constellation Brands last Wednesday. Jim also said, “I’m considering Cloudflare. They hired the brilliant Stephanie Cohen from Goldman Sachs.” Cohen has reportedly left the investment bank to become Cloudflare’s chief strategist. Next up: The spotlight will be on Nvidia CEO Jensen Huang at 4 p.m. ET. He is expected to attend the artificial intelligence chip giant’s annual GTC developer conference. While there’s a lot of anticipation for Jensen’s upcoming keynote, Jim said, “Now is a good time to buy Nvidia, not before and after GTC. Give it a rest.” We can’t wait for Jensen’s “Squawk on the Street” on Tuesday sit down with Jim on the show, as well as a two-part interview on “Mad Money” on Tuesday and Wednesday. (Jim Cramer’s charitable trusts include AAPL, GOOGL, DIS, GEHC, DD, STZ, NVDA. For a complete list of portfolio holdings, see here.) As CNBC Investing Club with Jim ·As a Jim Cramer subscriber, you will receive trade alerts before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling stocks in his charitable trust portfolio. If Jim talked about a stock on CNBC TV, he would wait 72 hours after issuing a trade alert before executing the trade. The investment club information above is subject to our Terms and Conditions and Privacy Policy and our Disclaimer. No fiduciary duty or obligation shall exist or arise upon your receipt of any information relating to the Investment Club. No specific results or profits are guaranteed.

Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on March 6, 2024.

Spencer Pratt | Getty Images

Every weekday, CNBC Investment Club with Jim Cramer publishes Homestretch—an actionable afternoon update just in time for the final hour of trading on Wall Street. (We are no longer recording audio so we can make this new written feature available to members as soon as possible.)

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