CNBC’s Jim Cramer on Friday said next week will be a key moment to determine what the upcoming earnings season will look like.
“It’s been years since we watched pre-announcement, where companies had to admit that things weren’t going well. Things like higher labor costs, supply chain woes and wars Russia-Ukraine. corporate profits – such devastation, some companies may cut their forecasts next week before the reporting deadline,”Crazy money” said the presenter.
“If we get through next week unaffected by negative pre-announcements, that makes me feel a lot more confident that July won’t be as bad as what we just went through and it will. makes me more optimistic.” he added.
Cramer said he is monitoring the Case-Shiller Home Price Index next week to see if there are any signs that rapidly rising home prices have slowed as a result of the Federal Reserve’s rate hikes.
He added that he will be looking at data from the Purchasing Managers’ Index, considered a gauge of general economic health, to shed more light on the state of inflation.
However, the most important number for the week will be the Personal Consumption Price Index, according to Cramer. “We have to see progress in these inflation numbers, or we can expect another 50 or 75 point rate hike,” he said.
Cramer also previewed next week’s earnings plan. All earnings and revenue estimates are provided by FactSet.
- Announces Q4 2022 earnings at 4:15 p.m. ET; conference call at 5 p.m. ET
- Forward EPS: 81 cents
- Expected revenue: 12.07 billion USD
“With a great CEO like John Donahoe,” Cramer said.… I think investors will see Nike’s China weakness and buy this.
- Q4 2022 earnings release at 4:10 p.m. ET; conference call at 4:30 p.m. ET
- Forward EPS: 39 cents
- Expected revenue: $134 million
Cramer said he wants to know if the US government will order more drones from the company to send to Ukraine.
Wednesday: General Mills, McCormick, Bed Bath & Beyond, Paychex
- Announces Q4 2022 earnings at 7 a.m. ET; conference call at 9 a.m. ET
- Expected EPS: $1.01
- Expected revenue; 4.8 billion dollars
- Announces Q2 2022 earnings at 6:30 a.m. ET; conference call at 8 a.m. ET
- Forward EPS: 65 cents
- Expected revenue: 1.61 billion USD
According to Cramer, both General Mills and McCormick are “high-quality deceleration stocks.”
- Announces Q1 2022 earnings at 7 a.m. ET; conference call at 8:15 a.m. ET
- Expected loss: loss of $1.38 per share
- Expected revenue: $1.51 billion
“I’ve always been against this retailer for constantly buying back their stock at a premium with nothing to show for it. … The cash is slowly running out,” he said.
- Announces Q4 2022 earnings at 8:30 a.m. ET; conference call at 9:30 a.m. ET
- Forward EPS: 80 cents
- Expected revenue: 1.11 billion USD
“Paychex is going to make a lot of extra money from the Fed raising rates, because they collect interest while they wait for people to deposit checks,” Cramer said.
Thursday: Constellation brand, Micron
- Announces Q1 2023 earnings at 7:30 a.m. ET; conference call at 10:30 a.m. ET
- Expected EPS: $2.52
- Expected revenue: $2.16 billion
Cramer said he believes people underestimate the company’s growth.
- Q3 2022 earnings release at 4 p.m. ET; conference call at 4:30 p.m. ET
- Expected EPS: $2.46
- Expected revenue: $8.67 billion
“I think Micron has been hurt really badly by the Chinese strike and its woes could immediately be transmitted to the entire complex.” he say.
Disclosure: The Cramer Foundation owns shares of Constellation Brands.