My top 10 things to watch Friday, May 8 1. Stocks are headed for a higher open this morning on hopes of an Iran peace deal and a jobs report that was better-than-expected but not too strong. Secretary of State Marco Rubio said the U.S. expects a response from Iran today on a proposal to end the war. Shortly after Rubio's comments, the April employment report came in, and stocks were able to hold on to most of their gains as bond yields ticked lower. 2. CoreWeave is down over 7% after second-quarter revenue forecasts came in light yesterday. Revenue is still growing, but operating expenses are growing even faster for the AI compute provider. When is that going to change? I'll be speaking to CEO Michael Intrator on "Squawk on the Street" this morning to find out. 3. Club name Nike was downgraded to hold from buy at Wells Fargo. Analysts took their price target to $45 from $55, citing excess competition in the athletic apparel market. Wells also said the turnaround story is taking longer than expected, a view we share. We downgraded Nike after another disappointing earnings report last month. 4. Lots of downgrades and price target cuts on Trade Desk . Shares of the advertising-technology company are sinking more than 13% after the current quarter revenue outlook fell short of expectations. Alphabet's Google and Meta , as well as Amazon and Walmart , take up the lion's share of automated ad spending. Trade Desk helps clients reach outside those walled gardens. 5. HubSpot plunged over 20% after delivering a mixed outlook and getting a double downgrade at Bank of America. The BofA analysts went to sell from buy, citing execution risk as the customer platform for marketing, sales, and customer service pivots to an AI agent-first model. Agents are phenomenal on volume, but humans are superior on conversion, which is what HubSpot needs more of. 6. Cloudflare is sliding over 15%. Alongside first quarter results, the internet services company announced layoffs of 1,100, or 20% of its workforce, citing a transition to an AI-first model. Cloudflare, which makes websites faster, safer, and more reliable, will record significant charges associated with the plan, which should be mostly put in place by the third quarter. 7. Bank of America hiked its PT on Citigroup to $170 from $150. The stock should re-rate over the next two years, analysts said, because of improvements to profitability and its growth outlook. Citi is by far the best bank stock. I wished we owned it. Instead, we're in peers Goldman Sachs and Wells Fargo. 8. Wall Street analysts soured on Coinbase . Piper Sandler lowered its PT to $170 from $180 due to a surprise first-quarter loss yesterday. JPMorgan took Coinbase down to $283 from $290 on a "weaker quarter in a weaker environment." Bank of America and Barclays followed suit. Maybe the business model is just too dependent on crypto prices. 9. Bank of America hiked its PT on Texas Roadhouse to $234 from $225. The steakhouse chain posted decent comparable sales for the first quarter and beat on earnings. We ditched it back in February after a lackluster report. It's a great restaurant, but not a great stock these days thanks to beef prices. Although shares are up over 8% premarket, it is still down almost 5% year to date. 10. Akamai , a cybersecurity and cloud computing firm, jumped over 23% premarket after solid first-quarter earnings . CEO Tom Leighton said that a "leading frontier model provider" committed to $1.8 billion over seven years for cloud infrastructure services. The pipeline looks very strong. 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.
