During another busy week of earnings and stock market swings, we picked our spots and made six trades, including calling up a Bullpen name. We also changed two Club price targets. Here’s a day-by-day look. Monday The week started with a small Caterpillar (CAT) sale after a huge run and an initiation of a new position in DuPont (DD), which had been on our Bullpen watch list. Shortly after the opening bell, we trimmed some Caterpillar and booked some profits after the industrial giant’s blowout earnings last week. Revenue rose 22% year-over-year in the second quarter and adjusted earnings per share jumped 75%. This was, in part, due to the U.S. government’s increased infrastructure spending . Shares popped 9% on the earnings release, closing that day at a record high of $288.65. The stock was finishing this week just under that level. Jim Cramer’s Charitable Trust — the holdings we use for the Club — owns 315 shares of Caterpillar. Monday’s trade decreased CAT’s weighting to 3.03% from 3.26%. in our portfolio. Monday afternoon, we bought 375 shares of DuPont. The specialty chemical maker has a 1% weighting in the Club’s portfolio. DuPont has an attractive growth story for 2024. Management said during their second-quarter earnings call that the bottom in the company’s semiconductor business is here, a similar narrative we’ve heard in the industry landscape more broadly. We like the idea of exposure to semiconductors at a lower industrials multiple rather than the higher chip-stock multiple. Tuesday We added shares of Coterra Energy (CTRA) in the morning and purchased more Stanley Black & Decker (SWK) in the afternoon. We bought more Coterra on Tuesday’s dip, one day after the oil and natural gas producer delivered mixed quarterly results and soft guidance. We thought the decline was overdone. With West Texas Intermediate crude prices down briefly Tuesday morning due to growth scares and Coterra underperforming the group due to a mischaracterization of its quarter, we pounced on the weakness and called it an opportunity to buy small in this half oil, half natural gas production company. We own 1,550 shares of Coterra. Tuesday’s trade increased CTRA’s weighting to 1.48% from 1.1% in the portfolio. Our Stanley Black & Decker buy, which came a week after the shine came off the company’s post-earnings glow, increased the tool manufacturer’s weighting in the portfolio to 0.82% from 0.33%. With an excess of cash in the portfolio, we’re looking for stocks that are selling at a discount. Stanley Black & Decker is expected to enter 2024 with a lower cost structure, along with a clean inventory position, earning somewhere between $4 to $5 per share in 2024 from the $1 previously expected to earn next year. (On Friday, Wolfe Research downgraded SWK to underperform from peer perform (sell from hold), l argely due to valuation . Our counter is that the company is ahead of plan on its turnaround efforts.) Wednesday Wednesday was our busiest day. The Club executed two trades, trimming our position on Halliburton (HAL) and buying more GE Healthcare Technologies (GEHC), along with changing our price targets for Disney (DIS) and Eli Lilly (LLY). The Club increased our GE Healthcare position to 850 shares, bumping up its weighting in the portfolio to 2.16% from 1.91%. The medical device sector, which GEHC is a part of, has been in a steady decline recently as the aversion to health-care names this year continues. As investors, not traders, we like the company’s fundamentals. GE Healthcare, a few weeks ago , delivered an upside quarter and raised its full-year outlook. We raised our Eli Lilly price target to $600 per share from $460, maintaining our longstanding view that this is the best growth story in mega-cap pharma. Our PT hike came one day after Lilly shares surged to a new all-time high on the promise around the company’s expected obesity drug and great earnings. Despite the market attention on Big Tech, the energy sector has performed the best since mid-July. We used the run as a chance to take profits in Halliburton, which has rallying since May. We still believe in the stock and still own 1,400 shares. Wednesday’s trade only reduced HAL’s weight in the portfolio to 1.97% from 2.24%. We lowered Disney’s price target to $120 per share from $140 but maintained our 1-rating on the lagging entertainment stock. The PT reduction came shortly after Disney reported mixed quarterly results on low expectations. While we did see evidence that CEO Bob Iger’s turnaround plan is working, our previous price target for Disney was too high based on how the stock has been trading this year. Bottom line It was an active week for the portfolio as earnings season has a tendency to bring on the action as we trimmed around the edges on positions that had outsized moves to the upside and bought the dips in companies that had good quarters but were less well received. In total we put roughly $47,000 into the market, lowering our cash position to 11.3% from nearly 13%. Our cash is still at a very healthy figure, which provides some protection in case this recent market struggle extends itself into next week. If and when the S & P 500 Oscillator becomes oversold, expect us to be more aggressive in deploying the war chest we have built up over the past handful of weeks. Until then, we remain patient, gradual buyers into weakness in profitable, quality companies. (Jim Cramer’s Charitable Trust is long SWK, CAT, DD, GEHC, CTRA, DIS, LLY, HAL. See here for a full list of the stocks. Club Director of Portfolio Analysis Jeff Marks contributed to this report.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNBC Investing Club with Jim Cramer
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During another busy week of earnings and stock market swings, we picked our spots and made six trades, including calling up a Bullpen name. We also changed two Club price targets. Here’s a day-by-day look.
Credit where credit is due: in a massive, 32-car multinational independent test, Tesla’s Autopilot ADAS came out on top, the new affordable Tesla turns out to be a corner-cutting Model Y, and one of the company’s original founders compares the Cybertruck to a dumpster. All this and more on today’s episode of Quick Charge!
Today’s episode is brought to you by Retrospec – the makers of sleek, powerful e-bikes and outdoor gear built for everyday adventure! To that end, we’ve got a pair of Retrospec e-bike reviews followed up by a super cute, super affordable new EV from China with nearly 150 miles of range for less than $5,000 USD.
PLUS: listeners can get an extra 10% off by using code ELECTREK10 at retrospec.com!
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Tesla is again teasing the new Roadster, which is now five years late, as “the last driver’s car” before self-driving takes over.
The chicken or the egg. Is Tesla delaying the Roadster to match the development of self-driving technology, or is it delaying the development of self-driving technology to match the delayed release of the Roadster?
The prototype for the next-generation Tesla Roadster was first unveiled in 2017, and it was initially scheduled to enter production in 2020; however, it has been delayed every year since then.
It was supposed to achieve a range of 620 miles (1,000 km) and accelerate from 0 to 60 mph in 1.9 seconds.
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It has become a sort of running joke, and there are doubts that it will ever come to market despite Tesla’s promise of dozens of free new Roadsters to Tesla owners who participated in its referral program years ago.
Tesla used the promise of free Roadsters to help generate billions of dollars worth of sales, which Tesla owners delivered; however, the automaker never delivered on its part of the agreement.
Furthermore, many people placed deposits ranging from $50,000 to $250,000 to reserve the vehicle, which was initially scheduled to hit the market five years ago.
When unveiling the vehicle, CEO Elon Musk described it as a “halo car” that would deliver a “smack down” to gasoline vehicles.
That was almost eight years ago, and many electric hypercars have since launched and delivered this smackdown.
Tesla has partly blamed the delays on improving the next-gen Roadsters and added features like the “SpaceX package,” which is supposed to include cold air thrusters to enable the vehicle to fly – Musk has hinted.
Many people don’t believe any of it, as Tesla has said that it would launch the new Roadster every year for the last 5 years and never did.
Now, Lars Moravy, Tesla’s head of vehicle engineering, made a rare new comment about the next-generation Roadster during an interview at the X Takeover event, an annual gathering of Elon Musk cultists, last weekend.
He referred to Tesla’s next-gen Roadster as the “last best driver’s car” and said that the automaker did “some cool demos” for Musk last week:
We spent a lot of time in the last few years rethinking what we did, and why we did it, and what would make an awesome and exciting last best driver’s car. We’ve been making it better and better, and it is even a little bit more than a car. We showed Elon some cool demos last week and tech we’ve been working on, and he got a little excited.
We suspected that the comment might be about the Tesla Roadster, as the CEO made the exact same comment about Roadster demos in 2019 and 2024. You will not be shocked to hear that these demos never happen.
Electrek’s Take
The “last best driver’s car” before computers are going to drive us everywhere. It’s a self-fulfilling prophecy if you continue to delay the car. It might literally be the last car ever made that way. How would we ever know?
The truth is that the Roadster was cool when it was unveiled in 2017, but that was a long time ago. Tesla would need to update the car quite a bit to make it cool in 2025, and I don’t know that cold air clusters are it. You will have extreme limitations using those.
The Roadster is almost entirely in the “put up or shut up” category for me at Tesla. They need to stop talking about it and make it happen; otherwise, I can’t believe a word.
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The PV5 is already available in several markets, but will Kia launch it in the US? After Kia’s electric van was spotted testing in the US again, a US debut could be in the works.
Is Kia’s electric van coming to the US?
Kia launched the PV5, the first dedicated electric van from its new Platform Beyond vehicle (PBV) business, in South Korea and Europe earlier this year, promising it will roll out in “other global markets” in 2026.
Will that include the US? Earlier this year, Kia’s electric van was caught charging at a station in Indiana. Photos and a video sent to Electrek by Alex Nguyen confirmed it was, in fact, the PV5.
Kia has yet to say if it will sell the PV5 in the US, likely due to the Trump Administration’s new auto tariffs. All electric vans, or PBVs, including the PV5, will be built at Kia’s Hwaseong plant in South Korea, which means they will face a stiff 25% tariff as imports.
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Following another sighting, a US debut cannot be ruled out. The PV5 Passenger model was spotted by Automotive Validation Engineer Chris Higa (@Chrisediting) while testing in Arizona.
There’s no denying that’s Kia’s electric van, but it doesn’t necessarily confirm it will launch in the US. But it could make sense.
Despite record first-half sales in the US, Kia’s EV sales have fallen significantly. Sales of the EV9 and EV6 are nearly 50% less than in the first half of 2024.
To be fair, part of it is due to the new model year changeover, but Kia is also doubling down on the US market by boosting local production. Earlier this year, Kia said the EV6 and EV9 are now in full-scale production at its West Point, GA, facility.
The PV5 Passenger (shown above) is available in Europe with two battery pack options: 51.5 kWh or 71.2 kWh, rated with WLTP ranges of 179 miles and 249 miles, respectively. The Cargo variant has the same battery options but offers a WLTP range of either 181 miles or 247 miles.
During its PV5 Tech Day event last week, Kia revealed plans for seven PV5 body types, including an Open Bed (similar to a pickup), a Light Camper, and even a luxury “Prime” passenger model.
Kia PV5 tech day (Source: Kia)
Kia is set to begin deliveries of the PV5 Passenger and Cargo Long variants in South Korea next month, followed by Europe and other global markets, starting in Q4 2025. As for a US launch, we will have to wait for the official word from Kia.
Do you want Kia to bring its electric van to the US? Drop us a comment below and let us know your thoughts.