You're receiving this email because you're subscribed to Ring the Bell from Benzinga. To manage your subscription, click the link at the bottom of this email.

Happy Friday! You either think Jim Cramer has great stock picks, or you think that everything he says is wrong and you should do the opposite. So depending on how you feel about him, you may want to tail his latest pick in the chip space. Or maybe you want to short it. Your money, not mine! Plus, Capri shares were absolutely clobbered after the company’s planned merger was blocked.

—Aaron Bry

Plus, check out Robinhood’s new desktop trading platform, Robinhood Legend.

MARKET SNAPSHOT

Yesterday: The Nasdaq Composite ripped higher by more than .75% after Tesla shares skyrocketed more than 20% following the company’s earnings report. The Dow closed slightly in the red following weakness in the energy space.

On Our Radar: Consumer sentiment will come out at 10am ET, then, looking ahead to next week we will get jobs data next Friday as well as PCE.

TOP STORY

Jim Cramer: Buy Broadcom, But Stay Away From These Stocks

What Happened: On CNBC's “Mad Money Lightning Round,” Jim Cramer said Broadcom Inc is a buy. $AVGO shares are currently up nearly 60% YTD.

He’s Not The Only One: On Oct. 14, Mizuho analyst Vijay Rakesh maintained Broadcom with an Outperform and raised the price target from $190 to $220. But, Cramer wasn’t as bullish on these stocks.

SPONSORED BY ROBINHOOD

Unlock Robinhood Legend For A New Trading Paradigm

Robinhood is set to launch Robinhood Legend, a desktop-focused trading platform on October 16, 2024, catering specifically to active traders. Offering a larger screen interface, Legend allows traders to simultaneously analyze multiple charts and technical indicators, which enhances decision-making in real time. Key features include a customizable layout, advanced charting tools, and one-click trading for seamless execution. The platform is available at no extra charge to all Robinhood users and maintains its signature offerings—no equity options contract fees, low margin rates, and commission-free stock and ETF trading—making it a powerful and cost-effective tool for active traders seeking precision and speed.

This is a paid ad. Please see 17b disclosure here for more information.

FIVE ZINGERS

Booking Profits: Cathie Wood, a notable Tesla bull, sold shares of the EV giant following the stock’s huge gain on Thursday.

Not So Fast: MicroStrategy shares have been on a tear, but Peter Schiff expects the tides to shift soon.

Stalling Out: AutoNation shares stalled out after the company reported earnings, missing consensus estimates on EPS and sales.

It’s A Shoe-In: Two major shoe companies, Deckers and Skechers, are trading higher this morning on a couple of strong earnings reports.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Capri Holdings Stock Drops By Half After Judge Blocks Tapestry Merger

What Happened: Capri Holdings shares are tanking in Thursday’s after-hours session following reports that a judge has blocked the company’s pending merger with Tapestry Inc.

What To Know: Following an eight-day trial in which the U.S. Federal Trade Commission argued that a merger between Capri and Tapestry would remove competition from the U.S. handbag space, a U.S. judge has moved to block the pending merger, according to Reuters. Here’s why the FTC blocked the deal.

A MESSAGE FROM BENZINGA

Free Download: Your “Election 2024 Investor’s Cheat Sheet”

Election day is approaching, and while many investors are caught up in the political circus, you can turn potential chaos into profit. Grab your FREE "2024 Election Investor’s Cheat Sheet" and discover which sectors will soar, the top stocks set for explosive gains, and vital tax changes that could benefit income investors. With insights backed by solid data, this cheat sheet offers everything you need in under 5 minutes. Don’t wait—access expires on election day, so secure your cheat sheet today!

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Future Finance: Where fintech, crypto, and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.

Cannabis Daily: A must-read daily briefing for cannabis investors, operators, and enthusiasts. Join our list of industry veterans to jump start your morning. Subscribe here.

Real Estate Weekly: Ready to elevate your real estate game? This weekly newsletter provides actionable insights whether you are investing in REITs, owning property, or delving into the fast-growing world of fractional real estate. Subscribe here.

Advisor: Tailor-made for Financial Advisors, this weekly newsletter has industry-specific insights, analysis, and news. Subscribe here.

While there is no additional cost to use Legend, there are other fees associated with your individual investing account. Review our fee schedule for more information. 

Robinhood doesn’t endorse or adopt any particular investment strategy or approach to evaluating individual securities or assets. Robinhood Legend use is for informational purposes only and is not a recommendation of any security, investing or trading strategy. Some of the capabilities of Robinhood Legend may be different or absent from what is offered via the  Robinhood mobile app or Robinhood classic.  Please be sure to understand these differences and what might work best for you. Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.