Jim Cramer’s top 10 things to watch in the stock market Thursday

1. Disney quarter and outlook are better than expected. Bigger dividend: 50% increase to 45 cents per share. Guidance calls for full-year fiscal 2024 adjusted earnings per share to grow by at least 20% over 2023. The Club stock jumps nearly 7%. Disney is looking for double-digit profit margins in streaming and cost cuts, but I don’t know if it can do it. New CFO Hugh Johnston, used to be at PepsiCo, talks about a “sense of urgency” which is, I think, entirely activist investor Nelson Peltz, who is fighting for board seats.
2. Looking ahead, big Disney movies are coming to theaters: sequels to “Deadpool,” set for July, and “Moana,” set for November. Taylor Swift’s “Eras Tour” concert film finds its streaming home at Disney+, available in March. Signups could be big. Disney also invests $1.5 billion Fortnite maker Epic Games.
3. Wall Street is headed for a mixed open after the S&P 500 closed just shy of 5,000 on Wednesday. Another record close. The Dow also finished at another closing high. The Nasdaq ended the session Wednesday less than 2% away from its November 2021 record close.
4. Club name Wynn Resorts is firing on all cylinders. Remarkable quarter: Las Vegas best and Macao now doing incredibly well and could be even better. This weekend is expected to be huge, with the Super Bowl in Vegas. Both Vegas and Macao can benefit from celebrations around the Chinese New Year. The stock gets a well-deserved 3%-plus bump.
5. Shares of Wynn are cheap on a valuation basis, considering the company is operating at improved levels of profitability and all operating regions are strong or getting stronger. Plus, the upside is expected from the Wynn Al Marjan project, which broke ground this year, in United Arab Emirates.
6. PayPal will take longer than we thought. No turnaround plan in sight. The stock is down roughly 9% after lower-than-expected guidance.
7. Arm Holdings is crushing it in cloud, smartphones and personal computer. Internet-of-things and autos, too. Amazing gross margins. You can see why Club name Nvidia wanted this thing but had to settle for a partnership. Arm shares soar nearly 28% on the strong quarter and strong outlook.
8. Mattel shares are up 2.5%. While quarterly earnings and revenue were short of estimates, the company announced a $1 billion buyback. It has a good balance sheet. “Barbie” movie was huge. CEO Ynon Kreiz told me on “Mad Money” that the company wants to keep its brands relevant through products like Super Bowl-themed toys, which include Barbie dolls.
9. Multiple Uber price target bumps on Wall Street. The most bullish of the recent changes is UBS, taking Uber PT $94 per share from $87. Keeps buy rating. The analysts cited gross bookings potential after Wednesday’s release of strong quarterly results.
10. UBS downgrades Air Products to neutral from buy and cuts price target to $241 per share from $328. What happened here? Air Products sank more than 15.5% on Monday after rough numbers. Rival of Club name Linde in the industrial gas business. Linde’s quarter showed how superior it is.

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