Jim Cramer says the market could see ‘pleasant surprises’ in the future

CNBC’s Jim Cramer on Monday said that most of the sellers have left the market, meaning the turmoil in equities could ease.

“For me, this frantic scramble to get out of the negativity is a sign that the bad news…most has been baked in,” he said.

“Everybody is scrambling to get out of this market before everyone else, but at this point I think a lot of the people who were going to sell have already left, which means we could get some surprises. interesting in the future,” he added.

Major indexes fell Monday ahead of a rife week in corporate earnings,

The “”Crazy money“The host said he’s been keeping an eye on the Consumer Price Index, Producer Price Index and retail numbers coming out this week.

“I think those numbers will be too hot.… But I also expect some signs of cooling down soon,” he said.

“These data points are what everyone is afraid of. And when people petrify, it tends to not be the story, with buyers coming in after the big bad event is over,” he added. .

He also reviewed this week’s earnings. All earnings and estimates are provided by FactSet.

Tuesday: PepsiCo

• Announces Q2 2022 earnings at 6 a.m. ET; conference call at 8:15 a.m. ET
• Expected EPS: $1.74
• Expected revenue: 19.51 billion USD

Cramer said he believes the beverage giant will tell a good story because input costs including corn and aluminum are falling.

Wednesday: Delta Airlines

• Announces Q2 2022 earnings at 6:30 a.m. ET; conference call at 10 a.m. ET
• Forward EPS: $1.66
• Expected revenue: $12.25 billion

Cramer predicts that consumers have not yet spent money on travel.

Thursday: JPMorgan Chase, Morgan Stanley, Conagra Brands, Cintas

JPMorgan Chase

• Announces Q2 2022 earnings at 7 a.m. ET; conference call at 8:30 a.m. ET
• Forward EPS: $2.92
• Expected revenue: $31.81 billion

Morgan Stanley

• Announces Q2 2022 earnings at 7:30 a.m. ET; conference call at 9:30 a.m. ET
• Expected EPS: $1.57
• Expected revenue: $13.44 billion

Cramer said he preferred JP Morgan Chase and Morgan Stanley before their quarter.

Brand Conagra

• Announces Q4 2022 earnings at 7:30 a.m. ET; conference call at 9:30 a.m. ET
• Forward EPS: 63 cents
• Expected revenue: $2.93 billion

“The value proposition is quite compelling here, especially thanks to working from home,” he said.

Cintas

• Q4 2022 earnings released before the alarm bells; conference call at 10 a.m. ET
• Expected EPS: $2.68
• Expected revenue: 2.01 billion USD

Cramer says he’s only been monitoring company conference calls lately to test the pace of job creation.

Friday: Wells Fargo, Citigroup, BlackRock, UnitedHealth

Wells Fargo

• Announces Q2 2022 earnings at 7 a.m. ET; conference call at 10 a.m. ET
• Forward EPS: 83 cents
• Expected revenue: 17.54 billion USD

At the stock’s current price, “Wells Fargo takes very little and much more to gain” he say.

Citigroup

• Announces Q2 2022 earnings at 8 a.m. ET; conference call at 11 a.m. ET
• Forward EPS: $1.67
• Expected revenue: $18.34 billion

According to Cramer, there are much better banks to own than Citi.

Black stones

• Q2 2022 earnings release before the alarm bells: 8:30 a.m. ET conference call
• Forward EPS: $8.07
• Expected revenue: $4.58 billion

Cramer said he likes BlackRock at its current price point.

UnitedHealth

• Announces Q2 2022 earnings at 5:55 a.m. ET; conference call at 8:45 a.m. ET
• Forward EPS: $5.21
• Expected revenue: 79.68 billion USD

While he expects United Healthcare to post a good quarter, Cramer said he prefers Humana to the Charity Foundation.

Disclosure: Cramer’s Charity Trust owns shares of Humana, Morgan Stanley and Wells Fargo.