CNBC Investing Club: Cramer’s Morning Take on P&G 7/29/26

**Jeff Marks** (0:00)
The board recommends approving...

**SPEAKER_2** (0:01)
Regarding that seat on the committee, we're promoting...

**SPEAKER_3** (0:02)
to most quarterly earnings...

**SPEAKER_2** (0:04)
Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can easily make your voice heard. Vanguard Investor Choice gives you a say in the companies you invest in. With just a few taps, you can set your proxy voting preference for your index funds. Visit vanguard.com/investorchoice to learn more. Vanguard Investors own shares of our index funds, which own shares of the companies they invest in. Available for Vanguard index funds that participate in Investor Choice. Vanguard Marketing Corporation Distributor.

**SPEAKER_4** (0:30)
It's smart to always have a few financial goals. And a really smart one you can set? Earning cash back on what you buy every day. And with Discover, you can. Get this. Discover automatically matches all the cash back you've earned at the end of your first year.
Seriously, all of it. And we trust you to make smart decisions. After all, you listen to this show.
See terms at discover.com/creditcard.

**Jim Cramer** (0:57)
Jim Cramer here to share a short preview of my take on the market from today's Members Only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 1020 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.
In the meantime, there's plenty to buy. And I love this. You know, the drug stocks are really terrific.
They've been total winners. You know, even health care has been good, but also like food was good yesterday. And I don't know if I want to do banks necessarily. But when they come to, because oil and gas has been very bad for the banks. But there's plenty of just traditional high growth companies that you can buy.

**Jeff Marks** (1:42)
Well, the move in oil can push up interest rates and build expectations of a future rate hike. There is a big Fed meeting later today. Probabilities, according to CME Fed Watch, 64% hold, 36% hike. So, look, the odds still favor a hold, but there's still some people out there who think the Fed may make a move.

**Jim Cramer** (2:02)
Look, I think that you listen to Leon Tappale, who is the CEO of Newcore, our country's largest steel company. They've got the hardest demand that he's ever had.
The biggest, hardest demand. That says to me, wow, what are you doing with rates this low?

**Jeff Marks** (2:20)
Yeah, interesting. We'll see. If you look out to September, it's 89 percent hike. So, maybe Warsh will give some comments here.

**Jim Cramer** (2:29)
You need to have the war end somehow and have oil plummet, and then I think people will say, well, the ripples are going to be very positive.

**Jeff Marks** (2:35)
Yeah. We did make a move in the portfolio this morning, and this comes after we sold some yesterday, Procter & Gamble. Our sale yesterday turned into the smallest position, just a little bit of a stub.

**Jim Cramer** (2:47)
And I just wanted to move on. And the reason you have to move on is that this was not a quarter where some businesses did well and some did badly. Almost every business did badly.

**Jeff Marks** (2:57)
Yeah. Only Beauty was good, up 4 percent organic sales.
Companywide, it was flat. Guidance, they gave guidance for the New Year Fiscal 27 We said yesterday, it's a very conservative company when they gave a guide, it will probably be conservative. And EPS at the midpoint was about 2 cents lower. There were some headwinds from raw materials, energy and transportation.

**Jim Cramer** (3:19)
But they do a good comp score. I mean, I did quote their comp score in How to Make Money in Any Markets if you want to read. If you want to know how to read a comp score, which is really a fine art, you do want to read theirs.

**Jeff Marks** (3:32)
Well, I just think back to what you said the other week on our monthly call about how you want fewer positions in the portfolio. And when you have one that's three quarters of 1% small, stock isn't really doing too much over the last, call it five, three, four, five months. Maybe just look for some other opportunities.

**Jim Cramer** (3:53)
What should we do with our rump of Salesforce? That's tough to tell, right?

**Jeff Marks** (3:57)
That's a great question. That's another one where it just flips every day, whether it's an AI disruption day or software is going to make it day.

**Jim Cramer** (4:08)
I know.

**SPEAKER_3** (4:10)
All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates and may have been previously disseminated by Cramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. To view the full CNBC Investing Club disclaimer, please visit cnbc.com/investingclubdisclaimer.