1. Chinese tech giant Alibaba (BABA) splits into six units, which, of course, creates excitement among American investors. Breaking into cloud, delivery, TMall, digital business, logistics and entertainment. Will most certainly drum up initial public offering (IPO) interest. Let’s just trap the stupid Americans who will throw money at it because they are suckers. BABA shares up more than 9% on the news.

2. The Dow, the S&P 500 and the Nasdaq are set for a muted open Tuesday. Treasury yields up. Oil steady, one day after its best session since October. The Dow was the big winner Monday as a series of positive developments in the banking crisis helped support Wall Street. Join us at noon ET for the Club’s March Monthly Meeting, exclusively for members. Get a complete review of positions, the reasoning behind our new initiation questions, plus your questions.

3. First Republic Bank (FRC), the regional whose fortunes have recently been swaying the market, is going on a charm offensive. Tom Barrack is leading the effort. He’s a proven fundraiser. Remember, he was acquitted of being a foreign agent. Barrack has a huge Rolodex.

4. PVH Corp (PVH) shares soar 12% after the parent company of Tommy Hilfiger and Calvin Klein reported good topline growth ex-currency for both brands. Call it nine times earnings. Like the Ralph Lauren (RL) renaissance? Credit Suisse raises PHV price target to $93 per share from $87. Keeps overweight (buy) rating. Don’t forget Lululemon (LULU) reports after the closing bell and expectations are very low. The Club owns off-price retailer TJX Companies (TJX) in this apparel segment looking to benefit from the major problems at Kohl’s (KSS) and Bed Bath & Beyond (BBBY).

5. Major reshuffle at Lyft (LYFT): co-founders Logan Green (CEO) and John Zimmer (president) step back and board member David Risher, a former Amazon (AMZN) product guy, will take over as CEO next month. Sale, I wonder? Zimmer had been the most visible. He’ll move vice chair at the end of June. Green will be chair. Current chairman Sean Aggarwal will step down but stay on board. This company, unlike DoorDash (DASH), failed to pivot to profitability.

6. Disney (DIS) leaves metaverse in first round of layoffs. This had been a major focus of previous management, particularly in sports. It was very cost-intensive with no clear goal. Former CEO Bob Chapek thought it might be very meaningful. I guess it wasn’t as new boss Bob Iger sees it. We own Disney and, so far, Iger has given us nothing but reducing head count.

7. Club holding Meta Platforms (META), which itself has de-emphasized the metaverse, is not done laying off people this time because of performance reviews. Where is Meta CEO Mark Zuckerberg going?

8. Nvidia (NVDA) gets price target bump to $300 per share from $265 at Bernstein, which keeps outperform (buy) rating. Analysts talking about early on the AI learning curve. Separately, fellow Club name Microsoft (MSFT) sees PT boost to $305 per share from $265 at BMO. Still a market perform (hold) rating. Analysts estimate 4% to 5% incremental growth for Office in coming years.

9. Club name Emerson Electric (EMR): do we want the National Instruments (NATI) deal or a $3 billion buyback?  I will address (attack) these guys on our Monthly Meeting.

10. Dow stock Walgreens Boots Alliance (WBA) makes quarter: $34.86 billion in revenue versus $33.53 billion expected and earnings per share (EPS) of $1.16 versus $1.10 expected. Still post-Covid hangover. Same-store sales down 1%. There’s a pharmacist labor shortage. Returns 500 stores to normal hours but 1,900 not ready yet.

(Jim Cramer’s Charitable Trust is long TJX, AMZN, DIS, META, NVDA, MSFT, EMR. See here for a full list of the stocks.)

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