Wednesday Wrap-Up: Keep Calm, Cramer On
TheStreet
Alright, let's get to it.
It's hump day! You know what that means ... one day closer to my favorite day.
It's also one day closer to the end of the busiest week in earnings season. We have more than 160 companies reporting.
And, of course, Tesla (TSLA) - Get Report came in as a last-minute surprise. I'll be covering TheStreet's Eric Jhonsa's live blog on our Twitter account.
Anyway, let's get to the top stories of the day so that you can all take a deep breath and relax. (This market volatility is seriously making me consider taking up yoga or meditation, but that's a topic for another day.)
What Should You Do Now
Jim Cramer has some advice for investors who are struggling with market volatility.
The market is a buying opportunity, he said. Which -- funny enough -- was reiterated by Kenny Polcari, a director at O'Neil Securities.
Cramer breaks down his advice for investors who may be anxious about all of the red that they're seeing.
And, in case you want even more advice, check out Polcari's video where he rattles off three tips for investors.
Ready to Trade Microsoft?
Real Money contributor Stephen Guilfoyle is.
"What do we already know about Microsoft (MSFT) - Get Report coming into Wednesday? Well, we know that the firm has moved its focus away from the legacy software business lines, such as the Windows operating system. We know that its new focus has been on the cloud and artificial intelligence. I would expect strong results for both the 'Azure' cloud and public cloud lines as I would like to see MSFT further entrenched as No. 2 in this space behind fellow Action Alerts Plus holding Amazon (AMZN - Get Report) . That firm reports tomorrow, by the way," wrote Guilfoyle. "Don't forget that Microsoft is expanding the firm's Azure service for government and is still very much alive in the pursuit of the Pentagon's JEDI project, potentially worth $10 billion."
"Also important will be anything said regarding the firm's recently announced decisions to invest more heavily in the Internet of Things and edge computing. Other items also of interest could be the future of gaming, and the firm's decision to tie CEO Satya Nadella's compensation to the performance of the job-seeking and business networking social media site, LinkedIn," he said.
Microsoft is set to report earnings after the bell on Wednesday, Oct. 24.
Tilray and Canopy Are Getting Less Hazy
At least, that's the latest from TheStreet's Tony Owusu, who has a heavy focus on cannabis stocks.
Aurora Cannabis Inc. (ACB) , which debuted on the New York Stock Exchange Tuesday, Oct. 23, was rising 2.21% after plunging in its debut.
Over the past five sessions Cronos dropped nearly 20%, while Canopy fell more than 15%, and Tilray fell 14%.
It wasn't all good news for cannabis stocks Wednesday. India Globalization Capital Inc. (IGC - Get Report) continued its selloff, falling 4.5%, while DAVIDsTEA Inc. (DTEA - Get Report) declined 1.7%.
Talk about volatile.
Anyway, that's it for today. Tomorrow's another big day with Amazon (AMZN) - Get Report and Alphabet (GOOGL) - Get Report releasing earnings.
Catch y'all later.