Jim Cramer of CNBC on Friday said next week will be an important moment in deciding what the upcoming earnings season will be.
“It’s been many years since we started pre-announcement surveillance. Companies have to admit that things aren’t going well. Soaring labor costs, supply chain problems, the Russian-Ukraine war, etc. They’re in turmoil. Corporate Profit – Such a turmoil could reduce some companies’ forecasts for next week before they are scheduled to report. “Flirt“The host said.
“I’m convinced that July will not be as bad as it used to be if we can survive next week unharmed by the negative pre-announcements, which will make me more bullish,” he said. He added.
Kramer said he’s looking at the Case-Shiller Home Price Index next week to see if there are any signs that the Fed’s rate hike has slowed the sharp rise in home prices.
He added that to further clarify the state of inflation, he would review data from the Purchasing Managers Index, which is considered a general measure of economic health.
However, according to Cramer, the most important number this week is the Consumer Expenditure Price Index. “We have to look at these inflation developments, or we can expect an additional 50 or 75 point rate hike,” he said.
Kramer also previewed next week’s earnings slate. All revenues and revenue estimates are courtesy of FactSet.
Monday: Nike
- The announcement of financial results for the fourth quarter of 2022 is 4:15 pm (Eastern time).5 pm ET conference call
- Forecast EPS: 81 cents
- Expected revenue: $ 12.07 billion
“A good executive like John Donahoe is in command … I think investors will look into Nike’s weaknesses in China and buy it,” Kramer said.
Tuesday: AeroVironment
- The announcement of financial results for the fourth quarter of 2022 is 4:10 pm (Eastern Time).4:30 pm ET conference call
- Forecast EPS: 39 cents
- Expected Revenue: $ 134 Million
Kramer said he was interested in knowing if the US government had ordered more drones from the company to send to Ukraine.
Wednesday: General Mills, McCormick, Bed Bath & Beyond, Paychex
- The announcement of financial results for the fourth quarter of 2022 is 7:00 am (Eastern Standard Time).9am conference call
- Forecast EPS: $ 1.01
- Forecast revenue; $ 4.8 billion
- The announcement of financial results for the second quarter of 2022 is 6:30 am (Eastern Time).8am conference call
- Forecast EPS: 65 cents
- Expected revenue: $ 1.61 billion
According to Kramer, both General Mills and McCormick are “high quality slowdown stocks.”
- Revenues for the first quarter of 2022 will be announced at 7:00 AM EST.8:15 am ET conference call
- Expected loss: $ 1.38 loss per share
- Expected revenue: $ 1.51 billion
“I always bought back the stock at a high price to this retailer without showing anything … Till’s cash is declining,” he said.
- The announcement of financial results for the fourth quarter of 2022 is 8:30 am (Eastern Time).9:30 am (Eastern Time) conference call
- Forecast EPS: 80 cents
- Expected revenue: $ 1.11 billion
“Payshex collects interest while waiting for people to deposit checks, so the Fed’s rate hike will make a lot of extra money,” Kramer said.
Thursday: Constellation Brands, Micron
- Earnings for the first quarter of 2023 will be announced at 7:30 am EST.10:30 am EST
- Forecast EPS: $ 2.52
- Expected revenue: $ 2.16 billion
Kramer said he believes people underestimate the company’s growth.
- Revenues for the third quarter of 2022 will be announced at 4 pm ET.4:30 pm ET conference call
- Forecast EPS: $ 2.46
- Expected revenue: $ 8.67 billion
“I think Micron was really badly hurt by the blockade in China, and the pain could be immediately transmitted to the entire complex,” he said. He said.
Disclosure: Cramer’s Charitable Trust owns a stake in Constellation Brands.
