My top 10 things to watch Wednesday, Aug. 26 1. Futures are little changed on this monumental day. Nvidia earnings after the close. We’ll also hear from Club names CrowdStrike and Salesforce , which face tests of whether their rallies are for real. Nvidia’s Jensen Huang and Salesforce’s Marc Benioff will be on “Mad Money.” Ahead of Fed Chairman Kevin Warsh’s Jackson Hole address Friday, the PCE price index came in a little hot . 2. The market is pricing in a beat for Nvidia, so Bank of America argued the real debate is around balance sheet disclosures related to purchase agreements. “Quantifying these liabilities won’t erase AI buildout risk, but it lets the market price properly into what we see as a depressed valuation,” analysts wrote. I agree this stock is ridiculously cheap. BofA also wants to see Nvidia pivot toward an Apple-style buyback, something I’ve urged the chipmaker to do for months. 3. Club name Broadcom has become a battleground stock, according to Melius Research’s Ben Reitzes. He sees three main concerns weighing on the stock: share loss on Google’s custom silicon program , perceptions of “circularity” in the Apollo-Blackstone venture , and political backlash on data centers slowing the buildout. That last one is why we trimmed our Broadcom position this week. Broadcom reports next week. Can CEO Hock Tan quiet these worries? 4. Intuit is down 10% premarket after disappointing fiscal 2027 guidance last night. The numbers for the reported quarter were actually OK. The outlook is the problem, especially for TurboTax, which is squandering share to cheaper AI-based alternatives. CEO Sasan Goodarzi told me last night he’s got a plan to fix it. Analysts are more cautious, with BofA and JPMorgan downgrading the stock to hold. 5. Truist downgraded both Dick’s Sporting Goods and Nike to hold following the ugly quarter from Dick’s yesterday. Analysts said deteriorating footwear trends, particularly at Foot Locker, will take more time and money to fix. By extension, they see that as a bad sign for Nike’s turnaround. If you don’t own Dick’s, I actually think the stock looks interesting now if you have some patience. 6. Another retail downgrade: Jefferies cut Club stock TJX to a hold from buy and lowered its price target to $145 from $180. Not much upside from yesterday’s $139 close. Analysts think that the slowdown in the T.J. Maxx and Marshalls division is worse than acknowledged. I don’t think that’s the case. We might have to buy more because this is not an inventory glut story like Dick’s. It’s a competitive story. 7. Zoom Communications is down 7% after issuing light guidance for the current quarter. While Zoom did raise its full-year outlook, multiple analysts noted that the increase was slightly less than the second-quarter beat. Still, Zoom’s enterprise business performed well in the quarter, which is a big reason why I recommended the stock earlier this month. Jefferies lowered its price target by $2 to $118, but kept its buy rating. 8. Nice quarter from J.M. Smucker , sending shares up about 4% this morning. Organic growth of 5% was much better than the 1.1% consensus. Also a huge beat on gross margins, though tariff refunds helped. Falling coffee prices are benefiting the Folgers parent. Smucker upped its full-year earnings guide and now expects a smaller annual sales decline than before. Food is a tough group, but Smucker is operating well. 9. Jefferies downgraded L3Harris to hold from buy. Too much uncertainty around the defense contracting giant. Not only was CEO Chris Kubasik recently ousted , but plans to take the company’s Missile Solutions business public have been delayed. Boeing is our way to get some defense exposure, but our main reason for owning it is for the cleanup of its commercial plane business. 10. GoDaddy was downgraded to sell from hold at Wells Fargo. With AI overviews now appearing in nearly half of internet searches, analysts said GoDaddy needs to lower its prices to stay competitive in this new AI-first world. Grim situation. Shares are already off about 20% this year. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at 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.
Jim Cramer’s top 10 things to watch in the stock market Wednesday
Aug 26, 2026
