Jim Cramer's top 10 things to watch in the stock market Thursday
Jim Cramer’s “top 10 things to watch” covers July PPI and Fed rate odds, plus company updates: Cisco shares fell after an AI revenue guide; JPMorgan resumed coverage of Salesforce (buy) and Oracle (buy); Cerebras dropped after weaker revenue; Brinker’s guidance lifted its price target; Tapestry fell after guidance; Abbott was upgraded to buy with a higher target.
How this was made
The 30-second read
Why it matters
The most tradable, company-specific items are the same-day guidance/revenue shocks (CSCO AI revenue guide, CERE quarterly revenue) and the premarket selloffs tied to forward guidance (TPR 2027 earnings guidance). Analyst reinstatements/upgrades (CRM, ORCL, BRKR, ABT) are supportive but less time-critical than fresh financial disclosures.
Market read
Traders should focus on forward-looking guidance sensitivity in AI and consumer/luxury, while using analyst PT resets as secondary signals rather than primary catalysts.
What to watch
For CSCO and TPR, the article highlights guidance/margin concerns but does not quantify backlog, order timing, or segment mix, which could materially change how traders interpret the guidance gap.
Background
This is a CNBC “Top 10 things to watch” market wrap that mixes a macro datapoint (PPI) with company-specific catalysts like earnings/guidance reactions and analyst rating changes.
Ticker impact
Cisco reported an “amazing quarter” but guided AI revenue for the fiscal year far below what Cramer says it should be, sending shares down premarket.
Near-term bearish bias, with volatility around the CEO interview and any follow-up guidance details.
The article cites a specific premarket drop (~6%) tied to a concrete AI revenue guide and gross-margin concerns, which are direct drivers for valuation and expectations.
JPMorgan resumed coverage of Salesforce with a buy rating, arguing core business acceleration and limited AI disruption risk.
Moderately positive near-term bias, mainly via sentiment and positioning rather than immediate earnings power.
The article provides a specific rating action and thesis, but no new Salesforce financial disclosure.
JPMorgan reinstated Oracle with a buy rating, citing AI infrastructure buildout as an opportunity and a valuation discount.
Mild-to-moderate upside bias, with follow-through dependent on subsequent profit growth.
The article includes a concrete analyst action and rationale, but no new ORCL earnings or guidance numbers.
Tapestry beat on earnings and revenue, but 2027 earnings guidance underwhelmed, and the stock is down nearly 9% premarket.
Bearish near-term bias until investors re-anchor on the 2027 path and any margin or brand stabilization details.
The article explicitly links the premarket drop (~9%) to underwhelming 2027 guidance, a direct forward-looking catalyst.
Cramer calls Ralph Lauren his preferred luxury play while Tapestry is falling, implying relative strength within the luxury cohort.
Limited standalone impact; any move would likely be sentiment-driven rather than fundamentals.
The article does not disclose new RL financials, guidance, or events, only preference framing.
Wolfe Research upgraded Abbott to buy from hold, citing organic growth improvements and a potential share re-rating, with Citi raising its price target.
Moderately positive near-term bias, with follow-through contingent on upcoming/ongoing medtech results.
The article provides specific analyst actions and rationale, but no new ABT earnings print in the text.
Market effects
AI infrastructure and chip demand expectations are being repriced across incumbents (CSCO, ORCL) and challengers (CERE), while luxury and medtech sentiment is being shaped by guidance and analyst actions.
US-focused catalysts, with S&P futures modestly higher suggesting risk appetite is not broadly collapsing.
AI valuation narratives (Anthropic IPO expectations) and semis/chip competition themes can influence global AI supply-chain sentiment.
Counterpoint
Analyst PT resets and Cramer’s preference calls may overstate near-term fundamentals; the real driver is whether management commentary later today meaningfully changes the AI revenue and margin outlook.
Key entities
- macro indicatorProducer Price Index (PPI)
July PPI came in mostly cooler than expected, following consumer inflation matching expectations.
- public companyCisco
Reported strong quarter but guided AI revenue for the fiscal year far below expectations; stock down premarket.
- public companyCerebras
Newly public AI chipmaker; shares down sharply after disappointing quarterly revenue.
- public companyTapestry
Beat on earnings and revenue but underwhelming 2027 earnings guidance; stock down premarket.
