Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. Stocks rose Wednesday, with the S & P 500 and Nasdaq hitting fresh record highs in the session. The Dow Jones Industrial Average, meanwhile, also traded higher. The market was bolstered by strong performance in a number of tech stocks, namely Club holding Salesforce and Bullpen stock Marvell Technology following the companies’ upbeat quarterly earnings Tuesday night. The S & P Short Range Oscillator — Jim Cramer’s trusted momentum indicator — is still signaling the market is overbought, which informed our trim of Microsoft on Monday. Still, we chose to add to our newest holding Wednesday, Bristol Myers Squibb , given it traded at opportunistic levels Wednesday. 2. Shares of Salesforce surged nearly 9% Wednesday, a day after the enterprise software giant reported a third-quarter revenue beat . Investors overlooked the slight earnings-per-share miss amid excitement around the company’s new AI assistant platform, Agentforce. In the first week Agentforce was generally available, in late October, Salesforce said it signed more than 200 deals for the tool, with a pipeline in the thousands. This is not materially reflected in the financials yet, which gives us hope that Salesforce’s revenue growth can reaccelerate back to double digits in the future. “This is how you make real money,” Jim Cramer said Wednesday, referencing the stock’s more than 35% year-to-date gain. “All we did was stay the course, which is what you need to do with a really great company like … Salesforce.” 3. Marvell’s blowout quarterly results and strong revenue growth outlook has its stock soaring more than 20% Wednesday. It’s also good news for rival chip stock Broadcom , which we own for the Club. Marvell, which is in our Bullpen, and Broadcom both help tech giants create custom AI chips while also selling networking solutions for data centers. One of Marvell’s key customers is Amazon . We’ll hear directly from Broadcom, which is best known for its work with Alphabet -owned Google, when it reports on Dec. 12. Other positive readthroughs in our portfolio from Marvell’s quarter include Eaton and Dover — a pair of industrials with exposure to data centers. That end market “is obviously on fire,” Jim said. 4. Stocks covered in Wednesday’s rapid fire at the end of the video were: Dollar Tree , Foot Locker , Okta , Chewy , and General Motors . (Jim Cramer’s Charitable Trust is long CRM, AVGO, AMZN, MSFT, META, GOOGL. See here for a full list of the stocks.) 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.
Chipmaker Marvell’s strong quarter is good news for these 3 portfolio stocks