Big week of profits with Snowflake and Toll Brothers reporting

CNBC’s Jim Cramer aspires to start focusing back on the stock exchange, however the cryptocurrency trend is still catching Wall Street’s attention.

He anticipates that bitcoin and other speculative coins will continue to be leading of mind, and the huge decreases being seen in crypto markets will drag out stocks. This might produce purchasing chances for financiers in stocks as another jam-packed week of profits rolls through.

“All in all, this is a historically slow week, but there are enough new companies reporting that it’s now jam-packed,” Cramer, discussing his strategy for next week, stated on “Mad Money” Friday.

The week ahead will liquidate trading for the month. With the exception of the Dow Jones Industrial Average, the significant U.S. indexes are down month to date. The tech-heavy Nasdaq Composite is down 3.5% in May, while the S&P 500 has actually lost 0.6% over that time duration. The Dow is up about 1% in May.

Cramer provided audiences a sneak peek of the approaching business profits reports he has actually circled around on his calendar.

“Maybe, just maybe, that can overshadow bitcoin, as long as Elon Musk can keep his mouth shut about crypto,” he stated.

Projections for income and profits per share are based upon FactSet price quotes:

Lordstown Motors

• Q1 2021 profits release: after market; teleconference: 4: 30 p.m.
• Projected losses per share: 28 cents
• Projected income: $0

“Right now, this market despises all the pre-revenue SPAC plays because they burned people so badly over the last few months,” Cramer stated. “Lordstown’s stock’s down roughly 70% from its highs. I don’t know how they can get their mojo back, but, you know, maybe they’ll surprise me.”

Autozone

• Fiscal Q3 2021 profits release: prior to market; teleconference: 10 a.m.
• Projected EPS: $20.13
• Projected income: $3.27 billion

“This is a very reliable company, so you can get in the zone both before and after earnings,” Cramer stated.

Intuit

• Fiscal Q3 2021 profits release: after market; teleconference: 4: 30 p.m.
• Projected EPS: $6.51
• Projected income: $4.42 billion

“Intuit’s stock hit an all-time high today,” he stated. “I don’t think that’s going to deter buyers.”

Toll Brothers

• Fiscal Q2 2021 profits release: after market; teleconference: Wednesday, 8: 30 a.m.
• Projected EPS: 80 cents
• Projected income: $1.78 billion

“If Toll tells a story of strong orders and … expanding gross margins, I think the stock can get its groove back,” the host stated. “But everything has to be perfect, including assurances from management that lumber and appliance costs are indeed under control.”

Dick’s Sporting Goods

• Q1 2021 profits release: prior to market; teleconference: Wednesday, 8: 30 a.m.
• Projected EPS: $1.16
• Projected income: $2.2 billion

“I bet they deliver astounding numbers because all sorts of sporting goods are in short supply as Americans venture outdoors en masse,” Cramer stated.

American Eagle Outfitters

• Q1 2021 profits release: 4: 15 p.m.; teleconference: 4: 30 p.m.
• Projected EPS: 46 cents
• Projected income: $1.02 billion

“I think we could see similar strength from American Eagle, as it’s currently the hottest apparel chain on earth,” he stated.

Williams-Sonoma

• Q1 2021 profits release: after market; teleconference: 5 p.m.
• Projected EPS: $1.72
• Projected income: $1.5 billion

“I expect great numbers, but it’s been tagged as a stay-at-home stock of late, which is the kiss of death in this post-pandemic market,” the host stated.

Nvidia

• Fiscal Q1 2022 profits release: after market; teleconference: 5 p.m.
• Projected EPS: $3.28
• Projected income: $5.39 billion

“I think the chipmaker has a lot going for it, but I still want to hear how confident they feel about getting regulatory permission for the Arm Holdings acquisition,” he stated.

Snowflake

• Fiscal Q1 2022 profits release: after market; teleconference: 5 p.m.
• Projected losses per share: 16 cents
• Projected income: $360 million

Okta

• Fiscal Q1 2022 profits release: after market; teleconference: 5 p.m.
• Projected losses per share: 12 cents
• Projected income: $309 million

“They’re two of the fastest-growing companies on earth,” Cramer stated. “I expect great numbers from both, but you should only buy them if you think this market will change its attitude toward high-flying growth names that don’t trade on earnings — they trade on sales.”

Workday

• Fiscal Q1 2022 profits release: after market; teleconference: 4: 30 p.m.
• Projected EPS: 73 cents
• Projected income: $1.16 billion

“Workday should deliver still one more stunning quarter as they use cloud-software to automate back-office jobs in human resources and finance,” he stated.

Best Buy

• Fiscal Q1 profits release: 7 a.m.; teleconference: 8 a.m.
• Projected EPS: $1.36
• Projected income: $10.32 billion

Dollar General

• Fiscal Q1 profits release: TBD; teleconference: 10 a.m.
• Projected EPS: $2.13
• Projected income: $8.16 billion

Dollar Tree

• Q1 2021 profits release: TBD; teleconference: 5 p.m.
• Projected EPS: $1.40
• Projected income: $6.4 billion

“I like all three and think they’re good stimulus plays, but their stocks have become awfully controversial and I don’t really care for controversy,” Cramer stated. “There are easier ways to make money.”

Medtronic

• Fiscal Q4 2021 profits release: 6: 45 a.m.; teleconference: 8 a.m.
• Projected EPS: $1.42
• Projected income: $8.14 billion

“I bet they report a stellar number because its medical devices are being installed in record numbers post-pandemic,” he stated. “There’s a lot of pent-up demand from people who delayed surgery until they could get vaccinated.”

Gap

• Q1 profits release: 4: 15 p.m.; teleconference: 5 p.m.
• Projected losses per share: 6 cents
• Projected income: $3.41 billion

“Gap is very much back, something you can tell if you visit their stores: crisp, clean and reasonable prices,” the host stated.

Ulta Beauty

• Q1 2021 profits release: after market; teleconference: 4: 30 p.m.
• Projected EPS: $1.95
• Projected income: $1.65 billion

“Ulta’s a big winner once everyone can take their masks off,” he stated.

Costco

• Fiscal Q3 2021 profits release: 4: 15 p.m.; teleconference: 5 p.m.
• Projected EPS: $2.31
• Projected income: $43.64 billion

“Costco has a tendency to run up into the quarter and then sell off immediately even if the numbers are great. Doesn’t matter what they print,” Cramer stated. “I love Costco the store, I love Costco the stock … but you don’t want to buy it until after you see the results — let this one come to you.”

Salesforce

• Fiscal Q1 2022 profits release: after market; teleconference: 5 p.m.
• Projected EPS: 88 cents
• Projected income: $5.89 billion

“Salesforce reported a barnburner last time and nobody seemed to care, maybe because they still need to close the Slack acquisition,” he stated.

Dell

• Q1 2022 profits release: 5: 30 p.m.; teleconference: 5: 30 p.m.
• Projected EPS: $1.71
• Projected income: $23.80 billion

“You can purchase it ahead of time since [CEO] Michael Dell’s going to inform a wonderful story,” the host stated. “I bet they’ll have a terrific quarter.”

Big Lots

• Fiscal Q1 2021 profits release: TBD; teleconference: 8 a.m.
• Projected EPS: $1.69
• Projected income: $1.54 billion

Hibbett Sports

• Q1 2022 profits release: after market; teleconference: 5 p.m.
• Projected EPS: $2.56
• Projected income: $404 million

“I’m betting both will be terrific,” Cramer stated.

Disclosure: Cramer’s charitable trust owns shares of Salesforce, Nvidia and Costco.

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