The June tasks report will be essential

CNBC’s Jim Cramer on Friday recommended financiers to keep a clear mind in the coming days as Wall Street prepares to absorb the June tasks report out in a week.

The report will be essential due to the continuous dispute about increasing customer rates in the U.S., he stated.

“Next week’s everything about Friday’s nonfarm payroll report. Regardless of what the real number is, the inflation hawks are going to begin TELEVISION, they’re going to make a great deal of sound about how the economy’s [overheating]” and the Fed requires to tighten up right away, the “Mad Money” host stated. “Don’t even bother to listen to them.”

The remarks followed the significant stock indexes rebounded today from notable decreases a week earlier.

The S&P 500 and Nasdaq Composite increased in Friday’s session, notching fresh record highs. The Dow Jones Industrial Average reached be within 1% of its own closing high from early May.

Cramer likewise flagged the business profits reports he’ll be watching out for in the week ahead.

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

Herman Miller

• Q4 2021 profits release: after market; teleconference: Tuesday, 9: 30 a.m.
• Projected EPS: 39 cents
• Projected income: $583 million

“I think Herman Miller feels like a pandemic play when what we’re really looking for post-pandemic plays. Call me a tad nervous,” Cramer stated.

AeroVironment

• Q4 2021 profits release: after market; teleconference: 4: 30 p.m.
• Projected EPS: 81 cents
• Projected income: $147 million

“Unmanned aerial vehicles are pretty cool, but what I care about are unmanned ground vehicles,” Cramer stated. “Right now we’ve got a real shortage of truck drivers and, by the way, AeroVironment looks like it might have some answers.”

Constellation Brands

• Q1 2022 profits release: prior to market open; teleconference: 11: 30 a.m.
• Projected EPS: $2.35
• Projected income: $2 billion

“I’m looking for a very big number with only Covid potentially holding them back because they make these beers in Mexico, and Mexico’s way behind us in shutting down the pandemic,” the host stated.

General Mills

• Q4 2021 profits release: prior to market; teleconference: 9 a.m.
• Projected EPS: 85 cents
• Projected income: $4.36 billion

“Many analysts worry it’s going to get hit because of inflation,” Cramer stated. “I’m actually looking for something else that morning. There’s an acreage report from the Federal government that might show a huge increase in corn, which could send the whole commodity complex tumbling.”

Bed Bath & Beyond

• Q1 2021 profits release: prior to market; teleconference: 8: 15 a.m.
• Projected EPS: 8 cents
• Projected income: $1.87 billion

“I think this company might just show itself to be a darned good retailer with real products that could make this thing a brick-and-mortar survivor,” Cramer stated. “Bed Bath & Beyond could be worth owning.”

Micron Technology

• Q3 2021 profits release: after market; teleconference: 4: 30 p.m.
• Projected EPS: $1.71
• Projected income: $7.2 billion

“The last time they reported, the stock peaked as though the semiconductor cycle was over,” he stated. “I think it’s ridiculous and Micron has more room to run, but … the decline has been torture and I’m betting the shareholders will skedaddle on any uplift.”

Walgreens Boots Alliance

• Q4 2021 profits release: after market; teleconference: 4: 30 p.m.
• Projected EPS: $1.15
• Projected income: $33.49 billion

“I question anybody can alter that down trajectory [in the stock], other than for, possibly, [CEO Roz] Brewer,” Cramer stated. “I wish her the best, but Walgreens has been a real bow-wow.”

McCormick

• Q2 2021 profits release: 6: 30 a.m.; teleconference: 8 a.m.
• Projected EPS: 62 cents
• Projected income: $1.46 billion

“We’re still cooking today, but with restaurants reopening all over the place, people are going out more and more … huge pent-up demand,” he stated. “McCormick’s up against some tough comparisons versus last year.”