Stock Groups

Cramer’s week ahead; market needs obstacles resolved before a rally

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CNBC’s Jim Cramer advised investors that there is no way for a rally to continue until all the troubles are addressed.

We need China’s reopening, Russia’s withdrawal from Ukraine and the “Real Market” to make a comeback. [Federal Reserve]To curb inflation, a 100-basis rate rise is necessary,” said the “Mad MoneyThe host stated. America can only control one of these three things.

He made these comments after a volatile trading week, spurred by missing earnings quarters of retail behemoths. Investor concerns over inflation and geopolitical tensions are mounting.

It S&P 500 closed around 19% belowThe record of the Dow Jones Industrial Average was 30% lower than its peak, while that of the Nasdaq Composite was at 30%, in bear market territory. In its eighth week of losing, the Dow Jones Industrial Average posted its worst loss streak since 1923.

Cramer also gave his opinion on the market. Next week, Cramer will be presenting his outlook on earnings. FactSet provides all revenue and earnings estimates.

Monday: Zoom

  • Earnings release Q1 2023 after the close. Conference call at 5 pm ET
  • Projected earnings: 96c
  • Estimated Revenue: $1.23 trillion

Cramer explained that the stock of Zoom will not fall unless the company invents or acquires another company.

Tuesday: Best Buys, AutoZone, Toll Brothers

Best Buy 

  • Earnings release Q1 2023 before the bell. Conference call at 8:15 a.m. ET
  • Projectioned Earnings Per Share: $1.59 
  • Estimated Revenue: 10.45 billion

Cramer said that although he would normally encourage investors to purchase shares of Best Buy at their current prices, buying anything recently felt risky.

AutoZone

  • Earnings release for Q3 2022 before the bell. Conference call at 10:15 a.m. ET
  • Projected earnings: $26.20
  • Projectioned Revenue: $3.71 Billion

Cramer stated that stock in the company is a winner.

Toll Brothers

  • Earnings release for Q2 2022 after the close. Conference call at 8:30 am. ET
  • Projectioned Earnings Per Share: $1.50
  • Estimated Revenue: 2.08 billion

“Most skeptics … think the earnings will be cut in half in the future, if not more,” Cramer said.

Wednesday: Nvidia

  • Earnings release Q1 2023 after the close. Conference call at 5 pm ET
    Projectioned earnings: $1.30
  • Projectioned Revenue: $8.12 Billion

“The quarter ahead has seen terrible action. … I actually think the print will be a good one, I just don’t know if anyone will care,” Cramer said.

Thursday: Macy’s Costco

Macy’s

  • Before the bell, earnings release Q1 2022; conference call at 8:30 a.m. ET
  • Projected Earnings Per Share: 82 Cents
  • Estimated Revenue: $5.33 Billion

Macy’s also offers similar products TargetCramer mentioned that, which posted worse-than expected earnings, this quarter.

Costco 

  • Earnings release for Q3 2022 at 4:15 pm. ET. Conference call at 5:15 p.m. ET
  • Projected Earnings Per Share: $3.04
  • Projection: $51.32 Billion in revenue

Cramer indicated that, while the company has been performing well in recent years, it is so down that the stock might rally only if there is a large special dividend and buyback.

Friday: Canopy Growth

  • Before the bell, earnings release Q4 2022; conference call at 10:00 a.m. ET
  • Projected Earnings Per Share: $10.70
  • Projectioned Revenue: $130 Million

Cramer explained that marijuana needs to be legalized in the country. He also suggested that it should receive subsidies to allow its stock to recover from its highs.

Disclosure: Costco and Nvidia shares are held by Cramer’s Charitable Fund.

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