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CNBC’s Jim Cramer on Wednesday offered a list of off-price retailer stocks investors should have on their radar.
“There’s an inventory glut in the traditional retailers and the big chains are desperate to get rid of this stuff so they can bring in new product,” the “Mad Money” host said.

CNBC’s Jim Cramer on Wednesday offered a list of off-price retailer stocks investors should have on their radar.
“There’s an inventory glut in the traditional retailers and the big chains are desperate to get rid of this stuff so they can bring in new product,” the “Mad Money” host said. “The off-price chains are the buyers of last resort.”

Here is his list of companies investors should be eyeing:

TJX
Burlington Stores
Ross Stores
Ollie’s Bargain Outlet

Retail giants have reported earnings this week, with some faring better than others. 
Walmart beat on earnings and revenue in its second quarter results reported Tuesday. But the company reiterated its profit warning from last month, and CEO Doug McMillon cautioned in an interview Tuesday on “Squawk on the Street” that even wealthy consumers are becoming more frugal due to inflation.
Target reported a wider-than-expected miss on earnings in its latest quarter on Wednesday and saw profit fall nearly 90% from the same period the year before. The company had warned in June that its plans to get rid of excess inventory would be a headwind to its bottom line.
Cramer said that Target’s dismal results reflect consumers’ shift in appetite for experiences rather than goods, stemming largely from a desire to go out after staying inside during the height of the pandemic.

While this change in consumer spending means there’s a window to buy off-price retailers, investors should understand these stocks are long-term opportunities, he added.
“It doesn’t mean that they’re doing that great right now,” he said.

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Former WWE boss Vince McMahon paid $5 million of around $20 million previously unrecorded expenses to Donald Trump’s foundation in 2007 and 2009, WSJ reported.
The report comes weeks after McMahon retired as CEO of the company amid investigations into hush payments he made related to alleged sexual misconduct.
The donations were given during two years that Trump made appearances on televised WWE events.

Vince McMahon (L) and Donald Trump attend a press conference about the WWE at the Austin Straubel International Airport on June 22, 2009 in Green Bay, Wisconsin.
Mark A. Wallenfang | Getty Images Entertainment | Getty Images

Former World Wrestling Entertainment boss Vince McMahon paid $5 million of around $20 million previously unrecorded expenses to Donald Trump’s foundation in 2007 and 2009, according to a new report from The Wall Street Journal.
The report comes weeks after McMahon retired as CEO of the company amid investigations into hush payments he made related to alleged sexual misconduct. WWE has since said its board’s independent probe into the matter is “substantially complete.”

While the majority of the $20 million in payments went to women who accused McMahon and another WWE executive of sexual misconduct, another $5 million was used for unrelated purposes, according to a recent securities filing.
The $5 million represented charitable donations to the now-dissolved Donald J. Trump Foundation, the Journal reported, citing sources. The donations were given during two years that Trump made appearances on televised WWE events.
The WWE didn’t immediately return a request for comment.
Trump dissolved this foundation as part of a settlement with the New York state attorney general’s office in 2018, when a lawsuit alleged Trump had misused the charity’s funds for his 2016 presidential campaign, to pay legal settlements and promote his business.
This news comes less than a month after the Securities and Exchange Commission and federal prosecutors launched probes into the $14.6 million in payments made by McMahon to settle allegations of sexual misconduct.

The $5 million in contribution payments should have been cataloged as business expenses, because McMahon was a principal shareholder and the payments benefited the company, an attorney for WWE told WSJ.
The first of the two appearances resulted in a $1 million fee for Trump and a personal contribution from the McMahons of $4 million to his foundation. For his second appearance, Trump was paid $100,000 and McMahon and his wife, Linda, donated $1 million to the foundation.
While the $5 million was listed on the foundation tax returns as coming directly from WWE, the company said in its security filings this month that the payments came directly from McMahon personally.
Vince McMahon is still the top shareholder in WWE despite having left the company. He bought the comapny from his father about 40 years ago and turned it into a global powerhouse. His daughter, Stephanie McMahon, is now working as co-CEO, along with executive Nick Khan.
Linda McMahon served as Small Business Administration chief in Trump’s Cabinet. Trump, who hosted two Wrestlemania events in Atlantic City in the 1980s, is enshrined in the WWE’s Hall of Fame.
Read the full report from The Wall Street Journal.

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Wednesday said the market could continue to stall out after Wednesday’s slump and urged investors to trim some of their positions.
“Things can still go right. I don’t want to freak you out. I just think stocks need a cooling-off period after this miraculous run, and we’re getting one for certain,” he said.

CNBC’s Jim Cramer said the market could continue to stall out after Wednesday’s slump and urged investors to trim some of their positions.
“Things can still go right. I don’t want to freak you out. I just think stocks need a cooling-off period after this miraculous run, and we’re getting one for certain,” he said. “And you should take something off the table.”

The market has rallied since mid-June, buoyed by declines in commodities and cheery inflation readings in July.
However, the rally appeared to lose momentum on Wednesday with the major indices decreasing on the heels of mixed earnings reports from retailers and notes from the Federal Reserve’s July meeting.
The “Mad Money” host outlined three reasons why he believes why Wednesday’s market action could be just the beginning.

The market’s overbought

The S&P 500 Short Range Oscillator, a trusted indicator used by Cramer and CNBC’s Investing Club, helps predict when the market has become too overbought or oversold and positioned for a reversal. 
The Oscillator has been overbought since late July, which means the market might be due for a pullback, according to Cramer.

As a result, he advised investors to ring the register on the stocks that have rallied with the rest of the market starting in June.

The Federal Reserve isn’t done raising rates

Cramer echoed his warning on Tuesday that investors shouldn’t assume that the Fed will be able to engineer a soft landing, especially when it’s still contending with inflation.
The central bank’s leaders indicated at their July meeting that they plan to continue raising rates aggressively until inflation sees a significant decrease, though they could slow the speed of its tightening.
“The Fed’s going to be less aggressive than we expected two months ago, but they’re still on the warpath,” he said.
He pointed out that the decline in gas prices and excess inventory at stores suggest that inflation is coming down, and housing and rent prices remain high.
Cramer added that strong employment numbers also suggest the Fed still needs to bring down inflation — and take the market with it.

There’s too much froth in the market

The most worrying indication that the market will decline is that there are too many stocks rallying higher than they should due to overexcited investors, according to Cramer.
He pointed out Bed Bath & Beyond, meme traders’ most recent obsession, as an example. Reddit traders piled into the stock on Tuesday after activist Ryan Cohen made a large bet on the stock, causing it to skyrocket over 70% during intraday trading on Tuesday before ending the session up 29%. 
While the stock closed up 12% on Wednesday, shares of the retailer tumbled 14% in extended hours after Cohen said he plans to get rid of his entire stake in the company.
“We could see another big pullback like we saw after almost every other meme frenzy,” Cramer said.

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Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Dodge on Wednesday unveiled a new concept car called the Charger Daytona SRT as a preview of its first all-electric muscle car, expected in 2024.
The concept vehicle is a two-door coupe that looks like a futuristic, yet retro, version of the current Dodge Challenger.
It features a multispeed transmission and exhaust that give the car the feel and sound of a gas-powered muscle car.

Dodge Charger Daytona SRT concept car

DETROIT — Dodge on Wednesday unveiled a new concept car called the Charger Daytona SRT as a preview of its first all-electric muscle car, expected in 2024.
The two-door coupe is the first look at what the forthcoming vehicle, which will replace Dodge’s current gas-powered Challenger and Charger muscle cars, is expected to look like. The car also features several new technologies meant to make it feel and drive like a traditional muscle car.

“This car, we believe, will redefine American muscle,” Dodge CEO Tim Kuniskis, who’s known for over-the-top vehicles such as the brand’s 700-plus horsepower Hellcat models, said during a media briefing.
The concept vehicle looks like a futuristic, yet retro, version of the current Dodge Challenger with a more aerodynamic, but muscular, design. Most notably, the front end features a large opening for air to pass through, which the company is calling a “R-Wing.”

The “R-Wing” of the Dodge Charger Daytona SRT concept car features a Fratzog logo in the middle of it.

The front wing as well as the vehicle’s “Fratzonic Chambered Exhaust” and “eRupt” multispeed transmission – names fitting for “Back to the Future” movies – are patent pending, according to the company.
The multispeed transmission and exhaust are especially unique, since electric vehicles drive in only one “gear” and are relatively silent aside from required safety noises.

‘Not a science project’

Automakers routinely use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand. The vehicles are not meant to be sold to consumers.

However, Kuniskis says many of the Charger Daytona SRT’s technologies and design elements are expected to make it into a production vehicle.
“This is not a science project,” he said. “It looks like a Dodge, sounds like a Dodge and drives like a Dodge.”

Dodge Charger Daytona SRT concept car

Kuniskis said the 2024 production electric muscle car is expected to launch with three different performance levels but eventually expand to nine. The concept car features an 800-volt “Banshee” propulsion system.
Dodge declined to release expected performance metrics for the concept car or the yet-to-be-named production muscle car.
The forthcoming EV in 2024 will replace Dodge’s gas-powered Charger and Challenger muscle cars, which the automaker on Monday said would be discontinued at the end of 2023.

New tech

The car’s patent pending technologies are meant to retain the sound and driving characteristics of Dodge’s current gas-powered Charger and Challenger for any forthcoming all-electric muscle cars, according to Kuniskis.
While EVs can be fast with a “linear acceleration” that produces astonishing 0-60 mph times, they often lack the driving dynamics that many performance car owners enjoy. It’s a problem auto executives have privately been attempting to solve as the industry transitions to EVs.

Dodge Charger Daytona SRT concept car

“We said, ‘OK, if it’s going to happen, let’s do it like Dodge,'” Kuniskis said. “We’re not going to go there and do the same thing. Dodge is going to get lost if we try to do the same thing as everybody else.”
The exhaust system on the concept Charger, which Kuniskis said is as loud as a Hellcat engine, pushes sound through an amplifier and tuning chamber located at the rear of the vehicle. He compared it to a wind organ with chambers and pipes.
The eRupt technology, he said, is a multispeed transmission “with electro-mechanical shifting” that “delivers distinctive shift points” like today’s muscle and performance cars.

The innovations could help Dodge retain its performance characteristics as well as its buyers, who have bought millions of Challengers and Chargers over the years, according to Stephanie Brinley, principal analyst at S&P Global.
“It is exactly what you would expect a Dodge EV two-door to be,” she said. “It looks the part, it sounds the part and it’s pretty exciting.”

Heritage cues

Much of the concept vehicle was inspired by Stellantis-owned Dodge’s history, according to officials. The name itself — Charger Daytona SRT — is made up of nomenclatures Dodge has commonly used.
The “R-Wing” was inspired by the “nose cone” front end of the 1969-1970 Charger Daytona. And while today’s Charger is a four-door vehicle, the original generations beginning in the 1960s were two-door, like the concept.

Dodge Charger Daytona SRT concept car

The “Fratzonic” exhaust is a reference to a logo Dodge used from 1962 through 1976 called the “Fratzog,” — a word made up by a designer. It features a split deltoid made of three arrowhead shapes that form a three-pointed star.
Kuniskis said some of the design elements and technologies are expected to impact the electric range of the vehicles, but it’s not something Dodge is necessarily worried about.
“Don’t care; it’s badass … it’s a muscle car,” Kuniskis said.  

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Ezra Miller, the star of Warner Bros. “The Flash,” said this week that they are undergoing mental health treatment after a spate of misconduct allegations.
Warner Bros. Discovery, the company behind the DC Comics franchise movie, has largely been quiet about Miller’s various issues, including accusations of child grooming.
“The Flash,” which reportedly has a $200 million budget, is set for a release in June 2023.

Actor Ezra Miller arrives at the premiere of Warner Bros. Pictures’ ‘Justice League’ at Dolby Theatre on November 13, 2017 in Hollywood, California.
Axelle/bauer-griffin | Filmmagic | Getty Images

Ezra Miller’s apology could be the first step in a potential redemption story, but there’s no guarantee it’ll have a satisfying ending.
On Monday, the actor publicly addressed the ongoing controversy surrounding their recent arrests and allegations of disturbing behavior. Miller, who leads Warner Bros. Discovery’s “The Flash,” due out in theaters June 2023, said they’d “recently gone through a time of intense crisis” and has begun to undergo treatment for “complex mental health issues.”

The statement came one week after Miller was charged with felony burglary in Stamford, Vermont, just the latest criminal offense on the actor’s call sheet, and about two weeks after Warner Bros. Discovery axed its straight-to-streaming “Batgirl” film and said it was eyeing a reset of its DC Comics cinematic universe.
The newly merged company has remained quiet about Miller in recent months, as new and damning reports circled about disturbing behavior that ranged from disorderly conduct and harassment to allegations of child grooming and running an unlicensed cannabis farm. Miller has not specifically addressed any of these claims.
Many speculated that Warner Bros. Discovery would still release “The Flash” theatrically, but wondered whether it would sever ties with its lead in order to save face with the public.

Read more entertainment coverage

Sources told the Hollywood Reporter prior to Miller’s public statement that there were various outcomes Warner Bros. Discovery was preparing for. One was that Miller would seek professional help, give an interview about their erratic behavior and do limited press for the film before its planned cinematic release.
There has been some indication that Warner Bros. was ready to cut ties with Miller after releasing “The Flash,” which is said to have a budget of about $200 million. The company reportedly held meetings in April to discuss Miller’s string of controversies and how the studio would proceed going forward. At that time, it was determined that the film would remain on the slate, but Warner Bros. would pause future projects involving the actor.
The company didn’t immediately respond to a request for comment.
Now that an apology has been made, the question becomes: Can Miller stage a comeback?
“Is it possible for a redemption? Yes,” said Robert Thompson, a professor at Syracuse University and a pop culture expert. “You point out Robert Downey Jr. and Winona Ryder. Those were much simpler situations. …  As long as one isn’t behind bars, I think there are possibilities that careers can be managed.”
Downey famously reignited his career after a very public fall from grace that included numerous arrests in the late 1990s on charges related to drugs. He spent several stints in jail between 1997 and 2000, and entered a drug rehabilitation program in 2001. Downey slowly rebuilt his reputation, and then came “Iron Man,” a 2008 breakout hit that would go on to spark the Marvel Cinematic Universe. He played the character for more than decade before hanging up the metal suit in 2019.
Ryder’s fall was slightly less serious. She was arrested for shoplifting in 2001, but it was no less damaging. The actress was almost uninsurable following the arrest, which led to a nearly five-year hiatus from acting. She picked up supporting roles over the next decade in films like “Star Trek” and “Black Swan,” but her big comeback was 2016’s “Stranger Things.”

It’s about more than just Miller

The accusations against Miller are more severe than what Downey and Ryder faced. If the allegations of impropriety with minors are true, the actor may not be able to resuscitate their career — although Kevin Spacey, Louis C.K. and Woody Allen have managed to work after allegations of sexual misconduct.
Miller’s future isn’t the only factor. In addition to the potential impact on victims and their families, Miller’s actions have also directly impacted Warner Bros. Discovery’s reputation, and at a particularly vulnerable time for the company. After all, new CEO David Zaslav has a very different strategy for running the company, especially its streaming business.
“The news that Ezra Miller is seeking help is the best possible outcome for Warner Bros. in what is clearly a horrendously difficult situation,” said Tony Freinberg, president at Edendale Strategies, a crisis management and strategic communications firm.
“It seems strange to think that a movie studio could be overjoyed to hear its leading star of one of its tentpole franchises admit to having severe mental health problems,” he added. “But I suspect that’s exactly how the studio executives feel.”
The apology is not a silver bullet, however, Freinberg said.

Any time you hear words like grooming, or trafficking or suggestions of impropriety with minors, the stakes are incredibly, incredibly high.

Tony Freinberg
Edendale Strategies

“It’s really important for everyone to remember that this isn’t just about stealing a couple of bottles of booze, or a bar fight,” he said. “There are some really serious, sexually based allegations about Ezra Miller. And any time you hear words like grooming, or trafficking or suggestions of impropriety with minors, the stakes are incredibly, incredibly high.”
Freinberg said he suspects the statement from Miller was made partially because the actor came to terms with some of their challenges and partially because of pressure from the studio following their felony charge.
“It’s not a get-out-of-jail-free card,” he said. 
For Warner Bros., the path to releasing “The Flash” has become easier, industry experts told CNBC. 
Paul Hardart, director of the entertainment, media and technology program at NYU Stern School of Business, said the initial reports about Miller likely wouldn’t have impeded box office success significantly. However, with Miller’s apology, Warner Bros. can adapt its strategy.
“There’s a redemption story,” he said, noting that the studio has until June to figure out how to best market the film and time to see how Miller’s legal and personal battles unfold.
“And I think from Warner Bros. standpoint, they’ve clearly said, ‘This movie is of value to us,'” he said. “They could write it off, they have the benefit of the purchase accounting moment. They could write it off and are choosing not to.”

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LeBron James reportedly agreed to a two-year $97.1 million contract extension.
According to ESPN, the extension makes him the highest-paid player in NBA history.
James is 37 and has played 19 seasons in the NBA.

LeBron James #6 of the Los Angeles Lakers shoots the ball during the game against the New Orleans Pelicans on April 1, 2022 at Crypto.Com Arena in Los Angeles, California.
Adam Pantozzi | National Basketball Association | Getty Images

LeBron James has reportedly agreed to a two-year, $97.1 million contract extension with the Los Angeles Lakers.
The 37-year-old NBA veteran is extending his stay in Los Angeles, according to tweets by ESPN’s Adrian Wojnarowski and The Athletic’s Shams Charania.

Rich Paul, CEO of Klutch Sports, confirmed the extension to ESPN on Wednesday. ESPN reported that the deal solidifies James as the highest-earning player in NBA history, with $532 million in guaranteed money during his career.
The Lakers struggled this past season, missing the playoffs despite James logging 30.3 points per game in his 19th season, his most since the 2005-06 season.
This upcoming season was set to be the last in LeBron’s initial $44.5 million contract. With the extension, the contract is now set to expire alongside Anthony Davis’ after two seasons.
The four-time NBA champion will remain in Los Angeles for the next two seasons, along with the hope of another championship for the city.
Read the piece on ESPN.

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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments: We’re cautiously watching bond yields Meme mania could be a sign of froth in the Nasdaq We trimmed two Club stocks: DHR, LIN Costco remains best retail stock 1. We’re cautiously watching bond yields Bond yields are starting to creep up again, with the 2-year Treasury over 3.35% on Wednesday, marking its highest level since the stock market’s recent bottom in mid-June. The benchmark 10-year Treasury yield was up to more than 2.9%. Higher bond yields, which move in the opposite direction of bond prices, tend to hurt growth stocks, many of which are tech names. When yields spiked earlier this year, stocks certainly paid the price. That’s because higher yields and interest rates make the promise of future earnings less valuable, and they also make it more expensive to borrow to fuel growth. In March, we explored the ways rates affect equity valuations . The tech-heavy Nasdaq was the big loser Wednesday, down roughly 1.3%. The S & P 500 and the Dow Jones Industrial Average were both down less than 1%, respectively. We’re being cautious and carefully monitoring bond yields for any signs that the stock market could get weaker again. Since the mid-June low, the S & P 500 — even with Wednesday’s decline — has gained 17%. However, the index was still down more than 10% year to date. 2. Meme mania could be a sign of froth in the Nasdaq The meme stock resurgence in August could be signaling froth in a market, which has moved quickly higher of late. Regardless of the exchange these stocks trade on, the frenzy around them tends to hurt the Nasdaq. Shares of Bed Bath & Beyond (BBBY) were up about 20% on Wednesday, one day after closing up 29%. Boosted by Reddit traders , the stock at one point Tuesday was 70% higher and has surged nearly 300% since August 4. AMTD Digital (HKD), a Hong Kong-based fintech firm, skyrocketed in early August, with shares up 2,300% since its IPO price of $7.80 on last month. Around $189 per share on Wednesday, AMTD Digital did, however, trade as high as $2,555.30 on Aug. 2. That was a whopping 32,656% higher than July’s offer price. The recent flurry of activity in meme stocks is reminiscent of the meme stock craze in 2021, which saw GameStop (GME) stock pushed to stratospheric heights as traders on Reddit’s WallStreetBets forum piled into the stock and squeezed out short selling hedge funds. Like what happened then, we are concerned that the Nasdaq could take a hit once the meme stock craze peaks. The Nasdaq is susceptible to volatility and likely will see some declines, which could impact Club names such as Apple (AAPL) and Amazon (AMZN), which both remain great stocks. Jim Cramer warned investors on Tuesday’s “Mad Money” to swap speculative plays, including meme stocks , for boring, stable plays, and we’re echoing that advice for Club members. 3. We trimmed two Club stocks: DHR, LIN While there’s no change in our thesis for Danaher (DHR), we sold some shares after the stock’s recent run simply because we have a large position in the stock and are looking to tighten our portfolio. We also took some shares off our Linde (LIN) position. While it’s had a nice run over the last couple of weeks, we are wary of how a worsening economic outlook in Europe could hurt the company. Jim said that if the Club names see a dip in the market, perhaps 1% to 3%, he would consider redeploying the capital raised from these sales. 4. Costco remains best retail stock Retail giants are continuing to report earnings this week, with Lowe’s (LOW) seeing a mixed quarter while Target (TGT) missed Wall Street expectations on earnings . We still recommend that investors pick up shares of Costco (COST) if they want to be in a well-run retail stock, though Jim also thinks Lowe’s and Home Depot (HD) have good prospects. Costco has not reported supply chain and inventory challenges, and has a successful pricing strategy , boosting our confidence in the company and its ability to continue weathering economic headwinds. (Jim Cramer’s Charitable Trust is long AAPL, AMZN, COST, DHR, LIN. See here for a full list of the stocks.) 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. More