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Cramer’s last week; The market needs obstacles to be resolved before a rally

CNBC’s Jim Cramer warned investors on Friday that a market rally has no chance of sustaining until the causes of the turmoil are addressed.

“If we want the market to have a meaningful return, we need China to reopen, Russia to withdraw from Ukraine, and [Federal Reserve] to curb inflation by raising interest rates by 100 basis points,”Crazy money“said the presenter.” Unfortunately, only one of those three is under American control. “

His comments came after a volatile trading week thwarted by missed earnings quarters from giant retail assets, fueling investor concerns over inflation and geopolitical tensions. global rule.

The S&P 500 closes about 19% lower its record, while the Nasdaq Composite hit 30% of its high, in bear market territory. The Dow Jones Industrial Average recorded its first eight-week losing streak since 1923.

In addition to hitting the market today, Cramer previewed next week’s earnings and gave her thoughts on each reporting company. All earnings and revenue estimates are provided by FactSet.

Second: Launch

  • Announces Q1 2023 earnings after closing; conference call at 5 p.m. ET
  • Forward EPS: 96 cents
  • Expected revenue: 1.23 billion USD

Zoom’s stock will continue to fall unless the company innovates or acquires another company that helps it do so, Cramer said.

Tuesday: Best Buy, AutoZone, Toll Brothers

Best buy

  • Q1 2023 earnings released before the bell; conference call at 8 a.m. ET
  • Expected EPS: $1.59
  • Expected revenue: 10.45 billion USD

Cramer noted that while he often urges investors to buy Best Buy stock at current prices, buying anything recently feels risky.

AutoZone

  • Q3 2022 earnings released before the alarm bells; conference call at 10 a.m. ET
  • Forward EPS: $26.20
  • Expected revenue: $3.71 billion

Cramer says the company’s stock is the winner.

Fees are collected by brothers

  • Announces Q2 2022 earnings after closing; conference call at 8:30 a.m. ET
  • Expected EPS: $1.50
  • Expected revenue: 2.08 billion USD

“Most skeptics … think earnings will be cut in half in the future, if not more,” Cramer said.

Wednesday: Nvidia

  • Announces Q1 2023 earnings after closing; conference call at 5 p.m. ET
    Expected EPS: $1.30
  • Expected revenue: 8.12 billion USD

“The pre-quarter action was horrible,” says Cramer.

Thursday: Macy’s, Costco

Macy’s

  • Q1 2022 earnings released before the alarm bells; conference call at 8 a.m. ET
  • Forward EPS: 82 cents
  • Expected revenue: $5.33 billion

Macy’s has a similar product line to TargetCramer noted that earnings were worse than expected this quarter.

Costco

  • Q3 2022 earnings released at 4:15 p.m. ET; conference call at 5 p.m. ET
  • Expected EPS: $3.04
  • Expected revenue; 51.32 billion USD

Cramer says that while the company is doing well, its stock has fallen to the point of particularly hefty dividends, and that a buyback may be the only thing that can drive it up in price.

Friday: Canopy growth

  • Q4 2022 earnings released before the alarm bells; conference call at 10 a.m. ET
  • Forward EPS: $10.70
  • Expected revenue: $130 million

“Canopy needs national legislation to promote cannabis use, not merely legalize it, but subsidize it,” Cramer said, in order for its stock to rally to its former highs.

Disclosure: Cramer’s charitable foundation owns shares of Costco and Nvidia.

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