Microsoft sets the record straight, and Nike’s CEO shakes up senior leadership
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves : Stocks were higher on Wednesday, overcoming a softer opening. The AI trade initially suffered a setback due to a story by The Information that said Microsoft lowered its AI software sales quotas/growth targets. The stock quickly pared its losses after the software giant refuted the story. Outside of tech, there was notable strength in the financials, a result of the November ADP report showing a decline in private sector employment, and ISM services data beating, with the prices Index falling to its lowest reading since April 2025. Those two reports may lock in a Fed interest rate cut at next week’s policymaking meeting. Executive shakeup: Nike CEO Elliott Hill announced a slew of changes to the company’s senior leadership team Tuesday. In a note to employees, Hill announced the promotion of a nearly 20-year Nike vet, Venkatesh Alagirisamy, to a new chief operating officer role and the elimination of roles and departures of several senior leaders. Hill also announced that the senior leaders of Nike’s four geographies will join the senior leadership team and report directly to him. CFO Matthew Friend is also taking on more responsibilities, overseeing global sales and Nike Direct in addition to his role as CFO. In total, we view these changes positively because eliminating a layer of management should lead to faster decision-making and improved efficiency. Up Next: Salesforce , Snowflake, Five Below, and PVH report after Wednesday’s closing bell. Before Thursday’s open, we’ll see earnings from Dollar General, Kroger, Hormel Foods, and Brown-Forman. On the data side on Thursday morning, we’ll see the November Challenger job cuts report and the government’s weekly jobless claims. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust, including MSFT, NKE, CRM.) 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.
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