Jim Cramer's top 10 things to watch in the stock market Thursday

My top 10 things to watch Thursday, March 26 1. Oil prices, bond yields and Washington's apparent talks with the Iranian regime are all going the wrong way for the stock market. Futures are pointing to a lower open this morning. Very difficult backdrop to commit a lot of capital. 2. Bernstein with a big call, downgrading Qualcomm to hold from buy. Analysts lowered estimates on concerns that sky-high memory prices are pressuring the smartphone market this year. Qualcomm has fallen out of favor. I think Wall Street prefers Arm Holdings here after Arm unveiled its first in-house chip for data centers. That's also a new pursuit for Qualcomm. 3. Adobe is back under fire. William Blair downgraded the stock to a hold from buy, citing intense AI competition in its core creative cloud business. My take: This is one of those companies that is just way too highly valued for what it does. It charges too much, has no dividend and has declining earnings power. 4. Mizuho started coverage of Tyson Foods with a buy, saying increased protein demand from consumers seeking nutrient-rich diets is a tailwind for the Jimmy Dean owner. Analysts also said Tyson's heavy reinvestment over the past five years to improve its supply chain should make it more profitable. It's an interesting idea, but Tyson is a chronically weak reporter. 5. UBS upgraded Nucor to a buy from hold and upped its price target to $190 from $184. The firm argued the stock's recent decline is overblown and that U.S. steel producers are largely protected from the Iran-U.S. war. I really like this call. Business is very good, but people don't want to buy a steel company in an economic slowdown. They want to buy the drugmakers. 6. Some analysts are going to bat for Celsius after the stock has tumbled 13% this week on headlines about Costco's new, much cheaper Kirkland Signature energy drink. JPMorgan called the sell-off overdone. Citi said private label has historically failed to win share. We still like Costco for the Club, especially in times of high gas prices . Big traffic driver to its stores. 7. A jury in Los Angeles ruled Meta and Google's YouTube were negligent in a closely watched social media addiction trial . Total damages owed is a combined $6 million. We're seeing the usual stuff we always see in these cases. Are these the new tobacco? The plaintiffs' bar needed a new villain and we have one. Google said it plans to appeal. Meta said it's evaluating its options. 8. Bernstein reiterated its buy rating on TJX Companies , saying the off-price retailer has a powerful flywheel in motion to accelerate earnings growth to the low teens from 10%. TJX is elevating its brand, selling a higher-margin mix of merchandise and reinvesting back into the business. We've loved the T.J. Maxx parent's stock for ages at the Club. 9. Guggenheim initiated coverage of Cava with a buy rating and price target of $100. Analysts see momentum for the business and a healthy financial profile. I like the story, but I don't love the stock here. It's had such a big move off its late 2025 lows. 10. Paychex CEO John Gibson told a good growth story last night on "Mad Money " following an even stronger quarter the day before. Still, the stock isn't being rewarded. It's just too high versus where it was when it was last written about. Cue the PT cuts. JPMorgan took Paychex to $100 from $125, while Citi lowered to $99 from $120. Baird went to $125 from $148. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) 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.