Cramer's Morning Take: Disney, Honeywell & TJX 12/5/24

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Jim Cramer (1:04)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. Now, this morning, we do have the market is still overbought with the oscillator at 4.98, so we're not going to commit any more money. We did buy some Bristol Myers because that stock has been out of, been against the grain. I've noticed J&J, by the way, now, through 150 We got rid of that at a much higher price and circled back into Bristol Myers and stayed with Abbott Labs. Those were Abbott Labs being medical device, Bristol Myers being neuroscience, and therefore no competition. Costco reports, you know that I am lamenting that Richard Glanty, the CFO, is retiring, but what matters to me, he is the man behind the $1.50 hot dog, by the way, is there are a couple of areas that are very, very strong in Costco, and overall, I think the numbers are good. Please do not take any import to these numbers, because the company is going to report, and that's what does matter. But we did see non-food comps increasing mid-single digits, and we also saw fresh food going up high single digits. Those are also tells for the idea that Walmart might be doing well, a big fresh food department. We saw some firm that likes CrowdStrike, and I have to tell you, I think CrowdStrike goes much higher. This was UBS adding to the list. It's good to see the stock up. I think the stock can go up much more. I'm using a $400 target myself, away from some of the things that we print just because it's in my mind. Disney, Jeffery started today rolling out coverage of Disney and started with a hold with an in-sale price tag of 120 I think it's worth far more than that. The 33% increase in dividend is a sign of confidence. Confidence is very important because what it says is they believe theme park attendance, which has been subpar, will be turning around. That's something I believe too. Don't forget, I like the cruise lines. And the movie selection, the movie slate is just extraordinarily good. On the other side, Honeywell spoke at a Barclays conference. And you know, I continue to think that Honeywell is the gang that couldn't shoot straight. The problem here is that they keep over-promising and under-delivering. They should learn what U-Pod really means. You don't do what they're doing. They need a refresher course in how to be CEOs, how to be executives. The TGX call from Jeff Rees is very important. We had this morning, you see those numbers, that actually should be there. We had this morning an old friend of mine, Mickey Drexler, on Squawk Box, and he talked about how it's a very promotional environment, the most promotional he's ever seen, and that there's too much inventory. And what will happen, he did not draw the conclusion, but I will draw the conclusion, is it usually ends up in TGX's hands. Fresh inventory means fresh numbers. That's going to happen. It's very positive.

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