Every weekday, the CNBC Investing Club with Jim Cramer does a live “morning session” at 10:20am ET. Here’s a recap of the key moments this Wednesday. Oil Is All About Russia Quick Mentions: AMD, F Eli Lilly Reports Thursday 1. Oil Is All About Russia. US oil prices, as measured by West Texas Intermediate crude futures, fell another 3% on Wednesday, nearing the $90 a barrel level. . WTI hit 13-year highs in March, trading above $130 a barrel, after Russia invaded Ukraine. Despite the recent declines, we are still interested in our oil stocks as they are returning tons of excess cash to shareholders. Holding club Pioneer Natural Resources ( PXD ) posted a big quarter after the closing bell on Tuesday. Pioneer’s 15% annualized dividend yield leads the S&P 500, and it plans to return more than 95% of its second-quarter free cash flow to shareholders through dividends and buybacks. As for Coterra Energy (CTRA), it’s a big natural gas play, and the US has enough natural gas to ship to Europe. We think the Club holding is likely to hold, especially if Germany, which is facing a gas emergency due to the Russian war, has a cold winter. The company, after the bell on Tuesday, announced a strong quarter and increased its quarterly dividend and share repurchase pace. While we believe these companies are well positioned to generate cash, we recognize that technical market analysis suggests that oil will fall to $80 per barrel and hurt their bottom lines. However, we maintain that the main driver of oil prices is ultimately Russia and its production levels. 2. Quick mentions: AMD, F Advanced Micro Devices (AMD) reported after the closing bell Tuesday, and CEO Lisa Su is scheduled for an appearance on “Mad Money” Wednesday evening. The company beat Wall Street expectations with its second-quarter results. We believe there are bullish signs for the stock, including significant growth in its data center business and its path forward to take shares of Intel (INTC). Ford ( F ) has a long waiting list for many of its models, with nearly all 2022 model year vehicles sold out. The company also increased its quarterly dividend by 50% to 15 cents per share. The stock rose Wednesday on strong July sales figures, up 36.6% from the year-ago period and up 7.7% from June. Industry-wide July sales are estimated to have declined 10.5% 3. Eli Lilly Reports Thursday Eli Lilly (LLY) reports earnings before the bell on Thursday, and part of our focus will be on the launch of Mounjaro , the company’s type 2 diabetes drug that is also in trials as an obesity treatment. While we rarely advise buying ahead of a quarter, we like the long-term view and would consider buying back some of the stocks we recently sold on the upside if stocks pull back further. (Jim Cramer’s Charitable Trust is long AMD, CTRA, DVN, F, LLY and PXD. See a full list of stocks here.) As a subscriber to the CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a share in his charitable trust portfolio. If Jim has discussed a stock on CNBC TV, wait 72 hours after issuing the trade alert before executing the trade. INFORMATION ON THE ALTERNATE INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, WITH OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY DUTY EXISTS OR IS CREATED BY YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTOR CLUB. NO SPECIFIC RESULTS OR BENEFITS ARE GUARANTEED.
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