Business

CNBC’s Jim Cramer said Friday that Wall Street will be overwhelmed next week with a full slate of earnings reports from some of the most recognizable names in business.

After the major averages all finished the session at all-time highs, shaking off concerns about economic growth, the “Mad Money” host said it leaves practically no room for error.

“This is the toughest week of the quarter when it comes to making informed financial decisions,” he said. “There aren’t enough hours in the day to read all the conference calls … so do your best to focus on a few.”

Revenue and earnings-per-share projections are based on FactSet estimates:

Monday: Tesla earnings

Tesla

  • Q2 2021 earnings release: after market; conference call: 5:30 p.m.
  • Projected EPS: 94 cents
  • Projected revenue: $11.53 billion

“Tesla’s one of the few big companies with a stock that’s well off its highs, so it should have an easier time rallying on good news,” Cramer said.

Tuesday: Apple, Alphabet, Microsoft, Advanced Micro Devices earnings

Apple

  • Q3 2021 earnings release: 4:30 p.m.; conference call: 5 p.m.
  • Projected EPS: $1.01
  • Projected revenue: $73.3 billion

“We’re going into a big launch—all the new models will support 5G—and there should be an incredible number of upgrades,” Cramer said. “Hopefully, Apple will start breaking out the lifetime value of their customers this quarter thanks to this increasingly sticky service revenue stream.”

Alphabet

  • Q2 2021 earnings release: after market; conference call: 4:30 p.m.
  • Projected EPS: $19.20
  • Projected revenue: $56.19 billion

“Watch their cash hoard, it continues to build,” he said.

Microsoft

  • Q4 2021 earnings release: after market; conference call: 5:30 p.m.
  • Projected EPS: $1.91
  • Projected revenue: $44.13 billion

“Normally, the analysts underestimate Microsoft, allowing the company to easily beat expectations, but this time the stock may actually head lower … the expectations are finally catching up with them,” Cramer said.

Advanced Micro Devices

  • Q2 2021 earnings release: after market; conference call: 5 p.m.
  • Projected EPS: 54 cents
  • Projected revenue: $3.62 billion

“Under the brilliant leadership of Lisa Su, AMD has surpassed Intel in terms of giving its customers what they want,” he said. “I hope she can announce a closing date for the Xilinx acquisition because the arbitrage pressure is dragging down the stock more than the earnings can lift it.”

Wednesday: Boeing, Bristol-Myers, McDonald’s, Facebook, Ford, Mastercard earnings

Boeing

  • Q2 2021 earnings release: before market; conference call: 10:30 a.m.
  • Projected losses per share: 81 cents
  • Projected revenue: $16.72 billion

“I can see Boeing giving you a terrible number … and then telling you they may even have to raise more money,” Cramer said. “Those punches might be worth enduring, because air travel’s already coming back and once we triumph over these new Covid variants, I expect the airlines to place very big orders.”

Bristol-Myers Squibbs

  • Q2 2021 earnings release: before market; conference call: 8 a.m.
  • Projected EPS: $1.89
  • Projected revenue: $11.27 billion

“I expect them … to be weak again,” the host said.

McDonald’s

  • Q2 2021 earnings release: 7 a.m.; conference call: 8:30 a.m.
  • Projected EPS: $2.11
  • Projected revenue: $5.58 billion

“I think people are coming back to the stores, so McDonald’s will guide up numbers and people will buy the stock,” the host said.

Facebook

  • Q2 2021 earnings release: after market; conference call: 5 p.m.
  • Projected EPS: $3.04
  • Projected revenue: $27.84 billion

“I don’t expect a coronation, but let’s just say it’ll be tough for Facebook to have a bad quarter—online advertising is too strong,” Cramer said.

Ford

  • Q2 2021 earnings release: 4:05 p.m.; conference call: 5 p.m.
  • Projected losses per share: 3 cents
  • Projected revenue: $22.83 billion

“I think numbers have to go up here because the cars and trucks are simply better than they used to be and the markets they operate in are more profitable,” he said. “I don’t expect this quarter to be good … I’m saying that 2022 could be good.”

Mastercard

  • Q2 2021 earnings release: before market; conference call: 9 a.m.
  • Projected EPS: $1.74
  • Projected revenue: $4.37 billion

“That [American] Express quarter was fantastic. I think Mastercard is going to tell us a good story, too,” he said.

Thursday: Amazon, Twilio earnings

Amazon

  • Q2 2021 earnings release: 4:01 p.m.; conference call: 5:30 p.m.
  • Projected EPS: $12.20
  • Projected revenue: $115.34 billion

“I think the high-margin advertising business will be the star of the show — same reason I like Alphabet,” Cramer said. “I remain faithful to the stock.”

Twilio

  • Q2 2021 earnings release:after market; conference call: 5 p.m.
  • Projected losses per share: 13 cents
  • Projected revenue: $598 million

“Another company that I’m betting will surprise to the upside, Twilio,” he said.

Friday: Exxon Mobil, Chevron, Caterpillar earnings

Exxon Mobil

  • Q2 2021 earnings release: before market; conference call: 9:30 a.m.
  • Projected EPS: $1.01
  • Projected revenue: $64.64 billion

Chevron

  • Q2 2021 earnings release: before market; conference call: 11 a.m.
  • Projected EPS: $1.59
  • Projected revenue: $36.33 billion

“I urge you to go into both of them with an open mind,” Cramer said. “There was a time when I thought the oils were uninvestable because too many younger money managers care about the environment, but you know what the major oils have gotten religion on this issue.”

Caterpillar

  • Q2 2021 earnings release: 6:30 a.m.; conference call: 8:30 a.m.
  • Projected EPS: $2.41
  • Projected revenue: $12.51 billion

“The stock’s been down — no infrastructure bill, perhaps a slowing in orders — but the stock’s decline makes me comfortable buying a little right here, right now,” he said. “Could be a big second-half turn.”

Disclosure: Cramer’s charitable trust owns shares of Apple, Alphabet, Microsoft, Advanced Micro Devices, Boeing, Facebook, Bristol-Myers Squibb and Ford.

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