Alibaba: Shares of the Chinese e-commerce giant fell more than 5% in volatile trading on Wednesday as investors digested the company’s earnings report. Alibaba’s December quarter revenue fell short of analysts’ expectations, but the company increased its share buyback program by $25 billion. “Given the fact that the Chinese government is panicking about Chinese stocks, I still think Baba stock is a good buy,” Jim Cramer said, referring to the country’s recent stimulus package. CVS Health: CVS Health stock rose more than 3% on Wednesday, despite lowering its adjusted profit outlook for 2024 due to rising health care costs. In addition to its namesake pharmacy chain, CVS also owns the health insurance company Aetna. The medical cost issues weighing on Aetna are also hurting its peers in the managed care industry, such as Humana. “Etna is better than people think, and I think [CEO] New York Community Bancorp: Moody’s Investors Service downgraded the local bank’s credit rating to junk, about a week after NYCB announced its unexpected fourth rating. “It posted a quarterly loss and cut its dividend. On Wednesday, NYCB’s stock price fell 10% to below $4 per share. The stock has lost more than 60% of its value in recent days. Investment In an attempt to increase public confidence, NYCB has promoted its chairman to another term.” Along with taking on his new role, Jim provided updates on customer deposits, but added, “If we cut the dividend, , cannot instill confidence,” he said, adding that NYCB stock is currently “unbuyable.” CNBC Investment Club owns shares in Wells Fargo and Morgan Stanley Uber Technologies: The ride-hailing and food delivery provider reported strong fourth-quarter results on Wednesday, reporting on revenue and earnings per share Shares of Uber, which beat Wall Street expectations, fell slightly on Wednesday. Up to about $70 each. “Uber falls into the ‘tell me what I don’t know’ category,” Jim said. “It was a great quarter. …The stock price is very good, so wait a day and buy Uber.” Roblox: Video game platform Roblox also beat Wall Street expectations with its fourth-quarter results on Wednesday. The company’s loss per share was 52 cents, beating analysts’ expectations for a loss of 55 cents, according to LSEG. Meanwhile, quarterly revenue, or bookings, totaled $1.13 billion, a record high. “It’s about the booking, and the booking was strong. That’s how you look at it,” Jim said. Roblox stock rose 6% on Wednesday to about $43 per share.
Doomsday’ Cast, with Brie Larson Conspicuously Absent
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