Cramer: Starbucks tells me Chipotle takeover won't happen and that's good for the stock
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- Stocks were mixed, with a rotation from semiconductor to software companies.
- Jim Cramer advises long-term optimism on AI but cautions against buying semiconductor stocks before a bottom.
- Starbucks is not acquiring Chipotle and is concentrating on its turnaround.
- Encouraging consumer data suggests Starbucks' turnaround efforts are successful.
- Goldman Sachs and Wells Fargo are expected to report earnings, with Cramer bullish on both banks.
- Johnson & Johnson also reports earnings, with caution advised due to its history of post-earnings sell-offs.