Nike names a new finance chief, but our plan for the stock isn't changing

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. 1. Stocks climbed Wednesday as investors looked to rebound from back-to-back days of declines in the S & P 500 and Nasdaq Composite . Falling oil prices helped lift sentiment across the market, with West Texas Intermediate crude dropping below $70 a barrel for the first time since March 2 as tanker traffic through the Strait of Hormuz increased. The decline in energy prices also pushed Treasury yields lower, boosting interest rate sensitive sectors such as housing and home improvement. Shares of Club name Home Depot advanced over 5%. After Tuesday night's noisy earnings report, FedEx is down around 1% in midmorning trading, off its lows of the session. We added to our position . 2. Shares of Club holding Nike fell nearly 2% Wednesday after the company announced that former Lowe's and Pfizer executive David Denton will succeed Matthew Friend as chief financial officer, effective August 17. The announcement comes ahead of Nike's earnings report next week. The company said the upcoming results are expected to be generally in line with prior guidance, when excluding a benefit from from tariff refunds that was not previously factored into its forecast. …