| 1. We're looking at another strong open this morning on Wall Street after yesterday's scorching rally on hopes of a resolution to the Iran war. Yesterday's moves in stocks and bonds were a preview of what we may see if the conflict really does end. The March ADP report came in stronger than expected this morning. Positive signal for the jobs market ahead of Friday's nonfarm payrolls report. 2. Very disappointed in Club name Nike. The quarter beat on headline revenue and earnings, but it's still issuing weak guidance. Still problems with inventory. Growth in North America also took a step back. Is it still a good idea to stick with a fall investor day? Worse before it gets better. Has the competition caught up? Goldman, JPMorgan and Bank of America all downgraded it. 3. Rocky turnaround at RH. The luxury home-furnishings maker fell short on each key metric in its fiscal fourth quarter and its current quarter guide was light too. Tariffs were a drag. Housing market remains difficult. Shares are down 18% this morning. At least its full-year cash flow guide was much better. 4. Wells Fargo hiked its price target on Arm to $175 from $165. Analysts are upbeat on Arm's push into the data center CPU market with its first in-house silicon offering. They reiterated their buy rating. This one is just going to get better and better as it competes with Intel and AMD in the data center. As CEO Rene Haas told me Monday, this is a new Arm. 5. Evercore added Modelo brewer Constellation Brands to its tactical buy list. This has been a tough stock to own for years, but I like incoming CEO Nick Fink. I think he can turn it around. Beer sales are getting stronger, and the Street is getting more positive on the name. Citi upgraded it last month. 6. Some love for Boeing: Wells Fargo started the stock at a buy and a $250 price target, implying over 25% upside from yesterday's close. Analysts like Boeing for its free cash flow recovery as the aircraft maker's production normalizes. The FCF story and overall turnaround under CEO Kelly Ortberg is a key reason we got in Boeing for the Club. 7. Wells Fargo lowered its price target on Rockwell Automation to $360 from $410. Analysts are cautious about a new wave of orders for the group until there's better clarity around the macro environment because of the Iran-U.S. war. I'm seeing a lot of these kinds of calls on the industrials. Wells cut Club name Eaton to $350 from $370 for the same reason. 8. KeyBanc is seeing encouraging demand signals at Atlassian but slashed its price target to $130 from $170 anyways. This is the new reality for many software-as-a-service stocks thanks to the AI disruption overhang: Your numbers can still come through but the market isn't willing to pay a premium like before. 9. Edwards Lifesciences was upgraded to buy from hold over at Wolfe Research. Analysts said competitor Medtronic's "data flop" in February positions Edwards to gain share in the important TAVR heart value replacement market. This stock has been a total dog for years. 10. Sempra was added to the tactical ideas list at Wells Fargo. This has long been one of my favorite growth utilities thanks to its Texas and California exposure. Sempra is in the process of selling a majority stake in its infrastructure business to simplify and focus on its core. Perfect utility to buy here. | 
