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

1. Lowe’s beats on quarterly earnings per share and revenue. Though sales of $18.6 billion fell 17% from the year-ago period. Slowdown in DYI spending. Pro was flat. January bad weather. Forecast for first half of this year is like 2023. Macro housing pressure. Similar story last week from Home Depot.
2. Macy‘s EPS beats the quarter. Revenue was short and guidance brackets estimates. The company is closing 150 nonperforming stores. Part of growth strategy. Expanding Blue Mercury and Bloomingdale’s, high-end chains that have been outperformers for Macy’s.
3. Wall Street is drifting early Tuesday, the morning after the S&P 500 broke a three-session winning streak. The index logged another record close on Friday. Much of the market attention is focused on Thursday’s release of the Fed’s favorite inflation gauge.
4. Okta is so back. Wells Fargo raises price target to $90 per share from $70. These cybersecurity stocks just don’t stay down. This price action is why you have to buy Club name Palo Alto Networks. Club bought more shares of Palo Alto on Monday, as promised for when our portfolio restrictions lifted. Last Wednesday, the stock fell 28% post-earnings. Palo Alto has already made back nearly half of those losses, with more gains indicated in the premarket.
5. Wells Fargo has a hold on Club name Salesforce. But the analysts take their price target to $300 per share from $290 ahead of Salesforce’s earnings; set for after the closing bell Wednesday. I don’t like this. It’s the third Wall Street firm to raise their price targets. It puts even higher expectations on the already high bar.
6. JPMorgan raises Wynn Resorts to $122 per share from $118. The Club bought more shares last week as the stock dropped due to lingering concerns about the Chinese economy despite strong Lunar New Year holiday travel spending exceeding pre-Covid levels. 
7. Hims & Hers Health blows away quarter. Shares of digital platform for personalized health jump 18%. How did it do it? Founder and CEO Andrew Dudum on Mad Money tonight. Stock up 18%
8. Zoom Video reports better than feared numbers but still little growth. Stock up 9%. CFO Kelly Steckelberg also on Mad Money later.
9. Chevron‘s $53 billion deal for oil producer Hess Corp. may run into roadblocks tied to negotiations with Exxon Mobil about Hess’ stake in the major offshore oil project in Guyana. Exxon and China’s CNOOC are partners in the project.
10. American Electric Power ousts Julie Sloat as CEO after one year in the job. I thought she was going a pretty good job. She’s been there for 23 years. Activist investor Carl Icahn got two board seats and that was it for Sloat. Benjamin Fowke, former chairman of Xcel and AEP board member, will be interim CEO. This is just plain shocking. This is outrageous. She was the CFO and a good one.

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