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. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Stocks pulled back as bond yields marched higher after a couple of weaker Treasury auctions. Monday’s declines come after the S & P 500 gained more than 1% last week and closed at a new all-time high. PANW surges: We added to our position in Palo Alto Networks Monday morning following our big push last week and at Saturday’s Annual Meeting , and the stock has instantly rewarded those who caught it with a double-digit percent move at one point. We don’t see any specific catalyst behind this surge, other than investors realizing its platformization strategy will accelerate market share gains. The recent cybersecurity attack on UnitedHealth Group-owned Change Healthcare was further proof that even the largest companies in the world are vulnerable to outside threats. With Monday’s gains, Palo Alto Networks has recovered almost half of its post-earnings selloff. Alphabet struggles: But Google’s parent company weighed on the portfolio, with shares down more than 4% at one point on concerns about its AI offerings. It always seems like Alphabet ‘s AI initiatives keep taking one step forward and two steps back, with the latest blunder involving image generation for its Gemini AI model, the company’s answer to OpenAI’s ChatGPT. In a note from Melius Research, analyst Ben Reitzes argued the stock at 21 times earnings is “cheap for a reason.” Adds Jim Cramer: “Ben Reitzes at Melius raises lots of negatives about Google that can be summed up as a lack of discipline, which is why it is the worst of the Super Six.” The Super Six are Amazon , Apple , Alphabet, Meta Platforms , Microsoft , and Nvidia . Wells Fargo speaks: Shares of Wells Fargo made a new 52-week high earlier before giving back…
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