Jim Cramer’s top 10 things to watch in the stock market Wednesday

1. ConocoPhillips agreed to buy marathon oil in an all-stock deal worth $17.1 billion. He acquisition will expand the third-largest oil company's shale assets in Texas, New Mexico and North Dakota. COP shares fell more than 3% in pre-news trading, while MRO shares rose more than 7%.

2. Concerns about Sales force being like workday: Shares of the business management company took a hit after its second-quarter subscription revenue forecast fell short of analyst expectations. Club stock Salesforce reports its quarterly results after the closing bell. CEO Marc Benioff joins me on Mad Money tonight at 6 pm ET.

3. cloud flare Co-founder and CEO Matthew Prince is transforming the web security and content delivery network provider as a connectivity company. Look at my interview with the prince ahead of the company's investor day on Thursday.

4. Restaurant chain digging posted quarterly earnings and sales that beat expectations and raised same-store sales guidance. Does anyone care? The stock fell 5% in premarket trading. Many price target increases, including Wedbush (to $90 from $74) and Morgan Stanley (to $85 from $68).

5. Bank of America reiterated Apple as its first choice, telling customers that the AI-powered smartphone refresh cycle could be a “once-in-a-decade type event.” The company called the AI-enabled devices “IntelliPhones.” Separately, analysts at Evercore ISI said the iPhone market in China is holding up better than feared, citing the latest shipment data for April.

6. Big cut in forecasts for the second quarter in american airlines: The company now expects total revenue per available seat mile to decline 5% to 6% from previous guidance. Adjusted EPS estimates for the second quarter were lowered to between $1 and $1.15, below the previous target of between $1.15 and $1.45. The company also sacked its business director Vasu Raja. AAL shares fell more than 9%.

7. This time Truist takes Norwegian cruise line to buy on hold. Real herd mentality. CEOHarry Sommer He talked with me a week ago after the company raised its full-year guidance, noting that millennials and Generation Z are the fastest-growing cruise segment today.

8. About 8% of starbucks Customers waited 15 to 30 minutes for their orders last quarter, compared with virtually no one waiting that long a year ago. Bloomberg reportedciting data from Technomic.

9. Non-stop hate for Ulta Beauty. Analysts at Baird and Canaccord Genuity are the latest to lower their price targets for the stock. Baird rose to $525 per share from $625. Canaccord is now $522 from $575. Ulta will report first-quarter results after the close on Thursday. In April, Ulta's CEO said demand for beauty products was cooling.

10. JPMorgan raised its price target on Strike crowd to $400 per share from $371 to reflect what analysts see as the cybersecurity company's "best-in-class status" and a greater likelihood that its bullish stance will materialize. Is CrowdStrike the only cyber player without pricing pressure? It is scheduled to report quarterly results next week. we still like it Palo Alto Networks for the Club.

Sign up to receive my Top 10 Morning Thoughts on the Market free email newsletter

(See here for a complete list of Jim Cramer's Charitable Trust holdings).

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 fund'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 INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICYNEXT TO OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR IS CREATED BY VIRTUE OF THE RECEIPT OF ANY INFORMATION PROVIDED IN RELATION TO THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR BENEFITS ARE GUARANTEED.