Jim Cramer and Jeff Marks, the Club’s director of portfolio analysis, on Thursday delivered updates on all 34 Club holdings during the January Monthly Meeting. Here are the highlights from the first meeting of 2026, starting with our four turnaround stories: 4 turnaround plays Nike: The apparel and sneaker retailer has shown real signs of improvement under CEO Elliott Hill, who has already stabilized Nike’s U.S. market. China, another crucial segment, is up next. Procter & Gamble: The weak quarterly earnings report on Thursday was expected, and we’re viewing it as a clearing event for the consumer packaged goods giant. Management said the worst is behind it, setting the stage for a better performance in 2026 — especially behind a new CEO at the helm, Shailesh Jejurikar. Starbucks: With China now steadier and U.S. sales trends improving in the core North America business, we remain confident the business can reaccelerate. Investors will be getting an update during Starbucks’ Investor Day next week. While the stock is very overbought, we’re still comfortable with its current position in the portfolio. Texas Roadhouse: Cattle inflation has been a headwind for the restaurant chain for some time, which is why we recently trimmed our position. Jim, however, forecasts that beef prices will come down. As a result, we’re not giving up on Texas Roadhouse or taking profits on the stock again. … and the other 30 Apple: We don’t understand why this stock isn’t up more after management announced a new partnership with fellow Club holding Alphabet. The arrangement allows Apple to use Google’s leading AI technology on some of its devices. That’s a huge win. Investors who have been on the sidelines should start a position in Apple. Amazon: The stock sometimes trades on emotion rather than fundamentals, but Jim urged members not to give up. After all, Amazon keeps delivering where it counts. With a reaccelerating cloud business, shares are poised for a breakout. Jim likes it more than fellow Club names Meta and Microsoft, too. Broadcom: The custom chipmaker delivered a great quarter in December, but the stock has still underperformed into the new year. It’s odd that shares haven’t recovered, given that the broader market rebounded after President Donald Trump called off his threatened tariffs on a slew of European countries over Greenland. With shares down more than 4% this year, we’re considering buying the dip. Boeing: This is a stock investors should own for the long term, according to Jim, who pointed to the company’s strong free cash flow and recent order increase. We’re thrilled to see that Boeing’s turnaround story remains on track under CEO Kelly Ortberg. BlackRock: We recently sold some shares into strength, but that doesn’t mean we’re any less bullish. BlackRock has announced a series of acquisitions over the past two years that should expand its client base and give the firm greater exposure to fast-growing markets, such as private credit. As the world’s largest asset manager, no one has BlackRock’s scale. Bristol-Myers Squibb: Shares have been on a tear despite no new updates on expanding the company’s schizophrenia drug, Cobenfy, to treat Alzheimer’s — a key to our investment thesis. Despite recent setbacks in the trials, we’re still sticking with it. Jim also highlighted Johnson & Johnson, a former Club holding that is now in the Bullpen . Jim called J & J “a health-care company that’s better than what we own” after reporting a strong fourth quarter of fiscal 2025 on Wednesday. Capital One: The credit card issuer will release quarterly earnings on Thursday after the bell. All eyes will be on management’s response to Trump’s call to cap card interest rates at 10% for a year. It wouldn’t be wise for CEO Richard Fairbank to push back against Trump, Jim said. We’re focused on the benefits from Capital One’s acquisition of Discover. Costco: We got spooked after Costco delivered a mixed quarter in December, showing renewal rates drifting lower and a more selective consumer. It’s why we decided to cut our position on Dec. 16. Jim thinks “we’ve seen the last of those trajectories,” though. Salesforce: This is the portfolio’s only problematic tech position, according to Jim. Salesforce shares have been under pressure with the rest of the enterprise software group on concerns about AI-driven disruption risks. The big question: Is CEO Marc Benioff’s Agentforce, the company’s suite of AI tools, powerful enough to offset weakness in other businesses? CrowdStrike: This stock has differentiated itself from the rest of the cybersecurity cohort, including Club holding Palo Alto Networks. CrowdStrike’s security platform, which protects enterprise clients from bad actors, and its all-star management team, led by CEO George Kurtz, make it a standout in the sector. Cisco Systems: It’s hard to find a high-quality networking company trading at a very reasonable high-teens price-to-earnings multiple. It’s also a great AI play because the company is making strides to attract more web-scale customers. DuPont: This industrial name has steady health care, water, and diversified materials businesses that can do well as the Federal Reserve lowers interest rates. DuPont, however, does have exposure to the diminishing electric vehicle market. It’s a downside risk, but we can tolerate it because it makes up less than 10% of overall sales. Danaher: The tide is turning for this life sciences company, as momentum is building with biotech IPOs and large pharma takeovers — both of which should be followed by more equipment orders. That should help revive Danaher’s bioprocessing equipment business. Dover: The Club took some profits on Wednesday. There haven’t been any big announcements from Dover that warrant the outperformance. Instead, positive analyst calls have sent the stock higher. We couldn’t waste the move up, but are hesitant to take any more off right now. Eaton: We got some good news on Wednesday: Management is considering spinning off its vehicle division, a legacy business with limited growth. We like Eaton because it’s the world’s leading electrical machinery company. GE Vernova: The turbine manufacturer remains a key winner from the AI data center buildout. We were previously concerned that management wouldn’t expand production capacity enough to meet demand. That’s no longer an issue. Corning: This stock trades better than most other data center plays. Corning sets itself apart with its business that replaces copper in data centers. Corning produces fibers that can reduce heating costs in energy-intensive facilities. We’re still early on this trend. Alphabet: Alphabet is “an outright winner” among the most favorable megacap tech stocks, Jim said. Google’s latest AI model, Gemini 3, has put it ahead of other chatbots from publicly traded companies. Alphabet’s recent partnership with Apple is promising as well, given Apple’s massive installed base. Goldman Sachs: The stock has the best momentum among our financial names thanks to its terrific Wall Street dealmaking business. It’s a multiple expansion story that Jim says is “just way too cheap for the best in its industry.” Home Depot: We aren’t sure what to do about this home improvement retailer. It’s a key beneficiary of interest rate cuts, but it hasn’t performed like it. Peer Lowe’s actually has more momentum. Honeywell International: We have been patient with lagging Honeywell as the company separates into an automation company and an aerospace pureplay. Thankfully, Honeywell stock surged after Quantinuum, the world’s biggest integrated quantum computing company, filed to go public earlier this month. Honeywell is the majority shareholder in Quantinuum. Linde: This stock seems to have lost its way after issuing softer guidance last quarter. We’re holding on to it. The industrial gas giant has strong pricing power and a diverse client base. Eli Lilly: We remain confident in the drugmaker’s leading position in the fast-growing GLP-1 market. The company’s oral GLP-1, expected to go to market sometime this year, should further expand its reach. Additionally, several drug readouts later in 2026 could be catalyst events. Meta Platforms: The social media giant is the “premier ad company of our time,” Jim said. Meta’s been spending more on AI, which is a necessary evil to compete. A silver lining: the stock’s valuation is getting more reasonable. Microsoft: This one has been an enigma. Microsoft stock has been on a downward trajectory over the past three months, down 14%. It’s unclear whether that’s because the company’s AI-powered assistant Copilot is a letdown or because there are challenges with its OpenAI partnership. The stock could be a buy since it’s rarely this cheap. Nvidia: The AI chip leader has been subject to volatility, trapped in the geopolitical tensions between the U.S. and China as both countries race to be the first in AI. Jim believes the stock may continue to trade in a holding pattern until Nvidia’s GTC conference in March, when CEO Jensen Huang is set to show off the latest semiconductor platform, Vera Rubin. We maintain our “own it, don’t trade it” stance. Palo Alto Networks: Our other cyber name should continue to benefit from the secular trend of integrating AI-driven solutions in the cloud. The stock is well off its 52-week high of $223, now trading at $182 apiece. It is a potential buying opportunity. Qnity Electronics: Shares have upside despite already gaining 25% year to date. That’s because this DuPont spinoff supplies the materials used in high-performance semiconductor and cellphone technologies. Both are seeing a significant increase in demand, which is great for sales. TJX Companies: The off-price retailer is set to benefit from the ongoing retail bankruptcies and closures, including Saks’s most recent bankruptcy. These failing brands will be dumping huge volumes of inventory into the off-price channel. TJX, with its expert merchandising team, will be ready to buy them at a discount. Wells Fargo: The Wall Street bank didn’t beat the top or bottom line last quarter. Still, we’re not concerned. CEO Charlie Scharf is turning Wells into more of an investment house, which comes with higher expenses for now. We’re holding out hope because these efforts should further diversify revenue. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
