CNBC’s Jim Cramer on Friday stated that next week will be a turning point for identifying what the upcoming revenues season will appear like.
“It’s been ages since we’ve been on pre-announcement watch, where companies have to admit that things aren’t going well. Things like higher labor costs, supply chain woes and the Russia-Ukraine war. They may be playing havoc with corporate bottom lines – such havoc, that some companies may cut their forecasts next week before they are due to report,” the “Mad Money” host stated.
“If we get through next week unscathed by the negative pre-announcements, it makes me feel a lot more confident that July won’t be as bad as what we’ve just been through, and it’ll make me more bullish,” he included.
Cramer stated he’s watching out for the Case-Shiller Home Price Index next week to see if there’s any indication that quickly increasing real estate rates have actually slowed due to the Federal Reserve’s rate of interest walkings.
He included that he’ll be evaluating information from the Purchasing Managers’ Index, which is viewed as a procedure of basic financial health, to additional clarify the state of inflation.
The essential number for the week, nevertheless, will be the Personal Consumption Expenditures Price Index, according toCramer “We must see progress in these inflation numbers, or we can expect another 50 or 75” point rate trek, he stated.
Cramer likewise previewed next week’s slate of revenues. All revenues and income quotes are thanks to FactSet.
Monday: Nike
- Q4 2022 revenues release at 4: 15 p.m. ET; teleconference at 5 p.m. ET
- Projected EPS: 81 cents
- Projected income: $1207 billion
“With a great executive like John Donahoe at the helm. … I think investors will look through Nike’s Chinese weakness and buy this thing,” Cramer stated.
Tuesday: AeroVironment
- Q4 2022 revenues release at 4: 10 p.m. ET; teleconference at 4: 30 p.m. ET
- Projected EPS: 39 cents
- Projected income: $134 million
Cramer stated he has an interest in understanding if the U.S. federal government has actually purchased more drones from the business to send out to Ukraine.
Wednesday: General Mills, McCormick, Bed Bath & &(***************************************************************************************************************** )Paychex
GeneralMills
- Q42022 revenues release at 7 a.m. ET; teleconference at 9 a.m. ET
- Projected EPS:$ 1.01
- Projected income;$ 4.8 billion
McCormick
- Q22022 revenues release at 6:30 a.m. ET; teleconference at 8 a.m. ET
- Projected EPS:65 cents
- Projected income:$ 1.61 billion
BothGeneralMills and McCormick are”high quality slowdown stocks,” according toCramer
BedBath &Beyond
- Q12022 revenues release at 7 a.m. ET; teleconference at 8:15 a.m. ET
- Projected loss: loss of $1.38 per share
- Projected income: $1.51 billion
“I always railed against this retailer for endlessly buying back their stock at high prices with nothing to show for it. … The cash at the till is dwindling,” he stated.
Paychex
- Q4 2022 revenues release at 8: 30 a.m. ET; teleconference at 9: 30 a.m. ET
- Projected EPS: 80 cents
- Projected income: $1.11 billion
“Paychex will make a lot of extra money thanks to the Fed’s rate hikes, because they collect interest while they wait for people to deposit their checks,” Cramer stated.
Thursday: Constellation Brands, Micron
Constellation Brands
- Q1 2023 revenues release at 7: 30 a.m. ET; teleconference at 10: 30 a.m. ET
- Projected EPS: $2.52
- Projected income: $2.16 billion
Cramer stated he thinks individuals ignore the business’s development.
Micron
- Q3 2022 revenues release at 4 p.m. ET; teleconference at 4: 30 p.m. ET
- Projected EPS: $2.46
- Projected income: $8.67 billion
“I think Micron’s been hurt really severely by the Chinese lockdown and its woes may be instantly transmitted to the whole complex,” he stated.
Disclosure: Cramer’s Charitable Trust owns shares of Constellation Brands.
