CNBC’s Jim Cramer is eager to begin focusing back on the stock market, but the cryptocurrency craze is still capturing Wall Street’s attention.
He expects that bitcoin and other speculative coins will continue to be top of mind, and the big declines being witnessed in crypto markets will drag on stocks. This could create buying opportunities for investors in stocks as another packed week of earnings 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 game plan for next week, said on “Mad Money” Friday.
The week ahead will close out trading for the month. With the exception of the Dow Jones Industrial Average, the major 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 lost 0.6% over that time period. The Dow is up about 1% in May.
Cramer gave viewers a preview of the upcoming corporate earnings reports he has circled on his calendar.
“Maybe, just maybe, that can overshadow bitcoin, as long as Elon Musk can keep his mouth shut about crypto,” he said.
Projections for revenue and earnings per share are based on FactSet estimates:
Monday: Lordstown Motors earnings
- Q1 2021 earnings release: after market; conference call: 4:30 p.m.
- Projected losses per share: 28 cents
- Projected revenue: $0
“Right now, this market despises all the pre-revenue SPAC plays because they burned people so badly over the last few months,” Cramer said. “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.”
Tuesday: Autozone, Intuit, Toll Brothers earnings
- Fiscal Q3 2021 earnings release: before market; conference call: 10 a.m.
- Projected EPS: $20.13
- Projected revenue: $3.27 billion
“This is a very reliable company, so you can get in the zone both before and after earnings,” Cramer said.
- Fiscal Q3 2021 earnings release: after market; conference call: 4:30 p.m.
- Projected EPS: $6.51
- Projected revenue: $4.42 billion
“Intuit’s stock hit an all-time high today,” he said. “I don’t think that’s going to deter buyers.”
- Fiscal Q2 2021 earnings release: after market; conference call: Wednesday, 8:30 a.m.
- Projected EPS: 80 cents
- Projected revenue: $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 said. “But everything has to be perfect, including assurances from management that lumber and appliance costs are indeed under control.”
Wednesday: Dick’s Sporting Goods, American Eagle Outfitters, Williams-Sonoma, Nvidia, Snowflake, Okta, Workday earnings
- Q1 2021 earnings release: before market; conference call: Wednesday, 8:30 a.m.
- Projected EPS: $1.16
- Projected revenue: $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 said.
- Q1 2021 earnings release: 4:15 p.m.; conference call: 4:30 p.m.
- Projected EPS: 46 cents
- Projected revenue: $1.02 billion
“I think we could see similar strength from American Eagle, as it’s currently the hottest apparel chain on earth,” he said.
- Q1 2021 earnings release: after market; conference call: 5 p.m.
- Projected EPS: $1.72
- Projected revenue: $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 said.
- Fiscal Q1 2022 earnings release: after market; conference call: 5 p.m.
- Projected EPS: $3.28
- Projected revenue: $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 said.
- Fiscal Q1 2022 earnings release: after market; conference call: 5 p.m.
- Projected losses per share: 16 cents
- Projected revenue: $360 million
- Fiscal Q1 2022 earnings release: after market; conference call: 5 p.m.
- Projected losses per share: 12 cents
- Projected revenue: $309 million
“They’re two of the fastest-growing companies on earth,” Cramer said. “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.”
- Fiscal Q1 2022 earnings release: after market; conference call: 4:30 p.m.
- Projected EPS: 73 cents
- Projected revenue: $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 said.
Thursday: Best Buy, Dollar General, Dollar Tree, Medtronic, Gap, Ulta Beauty, Costco, Salesforce, Dell earnings
- Fiscal Q1 earnings release: 7 a.m.; conference call: 8 a.m.
- Projected EPS: $1.36
- Projected revenue: $10.32 billion
- Fiscal Q1 earnings release: TBD; conference call: 10 a.m.
- Projected EPS: $2.13
- Projected revenue: $8.16 billion
- Q1 2021 earnings release: TBD; conference call: 5 p.m.
- Projected EPS: $1.40
- Projected revenue: $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 said. “There are easier ways to make money.”
- Fiscal Q4 2021 earnings release: 6:45 a.m.; conference call: 8 a.m.
- Projected EPS: $1.42
- Projected revenue: $8.14 billion
“I bet they report a stellar number because its medical devices are being installed in record numbers post-pandemic,” he said. “There’s a lot of pent-up demand from people who delayed surgery until they could get vaccinated.”
- Q1 earnings release: 4:15 p.m.; conference call: 5 p.m.
- Projected losses per share: 6 cents
- Projected revenue: $3.41 billion
“Gap is very much back, something you can tell if you visit their stores: crisp, clean and reasonable prices,” the host said.
- Q1 2021 earnings release: after market; conference call: 4:30 p.m.
- Projected EPS: $1.95
- Projected revenue: $1.65 billion
“Ulta’s a big winner once everyone can take their masks off,” he said.
- Fiscal Q3 2021 earnings release: 4:15 p.m.; conference call: 5 p.m.
- Projected EPS: $2.31
- Projected revenue: $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 said. “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.”
- Fiscal Q1 2022 earnings release: after market; conference call: 5 p.m.
- Projected EPS: 88 cents
- Projected revenue: $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 said.
- Q1 2022 earnings release: 5:30 p.m.; conference call: 5:30 p.m.
- Projected EPS: $1.71
- Projected revenue: $23.80 billion
“You can buy it ahead of time because [CEO] Michael Dell’s going to tell a fantastic story,” the host said. “I bet they’ll have a terrific quarter.”
Friday: Big Lots, Hibbett Sports earnings
- Fiscal Q1 2021 earnings release: TBD; conference call: 8 a.m.
- Projected EPS: $1.69
- Projected revenue: $1.54 billion
- Q1 2022 earnings release: after market; conference call: 5 p.m.
- Projected EPS: $2.56
- Projected revenue: $404 million
“I’m betting both will be terrific,” Cramer said.
Disclosure: Cramer’s charitable trust owns shares of Salesforce, Nvidia and Costco.
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