From CNBC · Jim Cramer · · 1m 40s
Jim Cramer's 10 stock market moves to watch Friday
Apple's iPhone launch, Netflix downgrade, and tariff delays top the market agenda.
In brief
Apple's iPhone launch, Netflix downgrade, and tariff delays top the market agenda. Major analyst downgrades on Netflix and Lennar signal weakness in consumer and housing stocks, while Apple's new iPhone and several upgrades offer potential bright spots. Originally reported by CNBC.
Tariff delay lifts futures
Stock futures are flat after yesterday's rally as the Trump administration postpones new tariffs until after next week's summit with China. The 10-year Treasury yield is creeping toward 5% again.
Apple's iPhone 18 event today
Apple is launching the iPhone 18 today. Evercore raised its price target to $380 from $365, betting this refresh cycle will beat expectations.
OpenAI hacked via Claude
Security researchers used Anthropic's Claude to hack into OpenAI through an employee's ChatGPT account. Cramer questions whether OpenAI's cybersecurity defenses are strong enough.
Netflix downgraded to sell
Wells Fargo downgraded Netflix to sell from hold, cutting the price target to $57 from $80. Analysts cited weak content slate and worrisome engagement trends in the second half of the year.
Lennar hits 52-week low
Barclays lowered Lennar's price target to $70 from $79 after earnings, implying over 11% downside. Rising interest rates and 7% mortgages are crushing the homebuilder versus pandemic-era borrowing costs.
Etsy upgraded on cooler prices
BTIG upgraded Etsy to buy from hold with a $90 price target, representing 24% upside. Analysts see better risk and reward now that shares have cooled since late August.
StubHub upgraded after IPO flop
Citi upgraded StubHub to buy from hold after seeing strong app downloads in the third quarter. The ticket marketplace has been down over 70% since its blown IPO last September.
The takeaway
Major analyst downgrades on Netflix and Lennar signal weakness in consumer and housing stocks, while Apple's new iPhone and several upgrades offer potential bright spots.
