Technical giants report revenue, be prepared for bounces
CNBC’s Jim Cramer urged investors to take advantage of lows like Friday to prepare portfolios for the Federal Reserve’s upcoming rate hikes – but only if they have the funds to do so.
“After today’s disaster, we’re actually probably good for another downturn or two before we get into what I think will be a weak midweek upturn,” he said.
“Once again I would advise you to take some of the table in some of the bounces to prepare for the coming interest rate hikes. You can spend some money working on days like today … but only if you have the money to begin with, “ he added later.
The Dow Jones Industrial Average fell 2.8% on Friday, the biggest loss since October 2020. The S&P 500 fell 2.8% and the Nasdaq Composite fell 2.6%.
The “Mad Money”[ads1]; host also previewed next week’s results list.
All earnings and revenue estimates are given with permission from FactSet.
Monday: Coca Cola
- Q1 2022 result release before the bell; telephone conference at 8:30 ET
- Estimated EPS: 58 cents
- Estimated revenue: $ 9.83 billion
“I want to be a buyer on weakness because Coke has tremendous pricing power,” Cramer said.
Tuesday: Microsoft, Alphabet, Chipotle
Microsoft
- Q3 2022 results report after closing; telephone conference at 17.30 ET
- Estimated EPS: $ 2.19
- Estimated revenue: $ 49.01 billion
The company “should have a great number … but it may not matter because the stock is expensive,” Cramer said.
Alphabet
- Q1 2022 results report after closing; telephone conference at 17.00 ET
- Estimated EPS: $ 25.70
- Estimated revenue: $ 68.07 billion
‘People have turned on [Alphabet] “Now because they think online advertising has stopped growing – I think they are wrong because Google is a special case,” said Cramer.
Chipotle
- Q1 2022 income statement at 16:10 ET; conference call at 4:30 p.m. ET
- Estimated EPS: $ 5.64
- Estimated revenue: $ 2.01 billion
Cramer said the company is selling in an environment where interest rates will rise.
Wednesday: Boeing, Meta
Boeing
- Q1 2022 result release before the bell; conference call at 10:30 ET
- Estimated loss: loss of 25 cents per share
- Estimated revenue: $ 16.02 billion
“We’re all used to Boeing being ugly, and I expect more ugly,” Cramer said.
Meta
- Q1 2022 results report after closing; telephone conference at 17.00 ET
- Estimated EPS: $ 2.56
- Estimated revenue: $ 28.29 billion
Cramer said he thinks the Facebook parent will miss the quarter and cut their forecast. “I keep some powder dry to buy something for Charitable Trust,” he added.
Thursday: Twitter, Amazon, Apple
- Q1 2022 result release before the bell; telephone conference at 08.00 ET
- Estimated EPS: 5 cents
- Estimated revenue: $ 1.23 billion
Cramer said that if the social media company does not announce a new feature or initiative, Elon Musk “should go full corporate raider here and follow Twitter in every necessary way.”
Amazon
- Q1 2022 income statement at 16:01 ET; telephone conference at 17.30 ET
- Estimated EPS: $ 8.33
- Estimated revenue: $ 116.45 billion
“I think Amazon is not facing any opposition from any other retailer, but it is still a stock with high multiples, which means it may not be able to achieve much of a rally even if the quarter is spectacular,” he said. Cramer.
apple
- Q2 2022 income statement at 16:30 ET; telephone conference at 17.00 ET
- Estimated EPS: $ 1.43
- Estimated revenue: $ 94.11 billion
Cramer said that it is difficult to expect any upside from the iPhone manufacturer in view of the Covid shutdown in China.
Friday: Chevron
- Q1 2022 result release before the bell; telephone conference at 11.00 ET
- Estimated EPS: $ 3.42
- Estimated revenue: $ 51.14 billion
“I would like to see the Chevron stock retreat so we can buy more [for the Charitable Trust] with an even higher dividend, “said Cramer.
Disclosure: Cramer’s Charitable Trust owns shares in Amazon, Apple, Boeing, Chevron, Meta and Microsoft.
