Enterprise software stocks pull the market higher. Jim Cramer singles out one as the 'unsung hero'

Published Tue, Nov 7 202311:13 AM ESTUpdated Tue, Nov 7 202311:37 AM EST

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 Tuesday's key moments. 1. U.S. stocks edged up in midmorning trading Tuesday, as the market continues to consolidate last week's gains. The S & P 500 gained 0.36%, while the Nasdaq climbed nearly 1% on the back of technology stocks. A quarterly beat and guidance raise from Datadog (DDOG) lifted enterprise software names like Club holdings Salesforce (CRM), Microsoft (MSFT) and Oracle (ORCL), Jim Cramer pointed out Tuesday. He added that people should be buying more Oracle, calling it the "unsung hero" of the group. Meanwhile, bond yields moved lower, with that of the 10-year Treasury hovering just above 4.5%. And oil prices tumbled more than 3%, with West Texas Intermediate crude trading around $78 a barrel. 2. Barclays on Tuesday raised its price target on Club holding Constellation Brands (STZ) to $293 a share, up from $280, while maintaining an overweight rating on the stock. The firm argued Constellation is shifting to be an operator from a builder, focusing on improving efficiencies across the business — including by removing about $1 billion from its brewery expansion plans. That "clearly demonstrates improved efficiencies and further de-risks capital allocation by meaningfully improving the ROIC profile and allowing for greater share repurchase," Barclays analysts wrote. And as a result, Constellation stock "could go much higher," Jim said Tuesday. Shares were trading up 0.45%, at roughly $242.60 apiece. 3. Club holding Coterra Energy (CTRA) reported strong quarterly results after the closing bell on Monday, while delivering better-than-expected free cash flow . The company also increased its full-year production guidance while leaving its capital expenditure outlook unchanged, signaling greater capital efficiency. Meanwhile, Club name Emerson Electric (EMR) missed on analysts' expectations for its fiscal fourth quarter on Tuesday. Stay tuned for a full Club analysis on the results later in the day. (See here for a full list of the stocks in 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.