CNBC’s Jim Cramer warned investors on Friday not to make trading decisions fresh off a company’s earnings report.
Stocks rebounded on Friday after initially falling on quarterly earnings reports and recession warnings from major banks. All three major indexes ended the week in the red as investors shrugged off a slew of earnings reports and economic data that suggested inflation was cooling.
Cramer, who earlier this week offered investors a set of guidance for the earnings season, called Friday’s trading session an example of why investors should be disciplined with their portfolios.
“I make the same argument every quarter about how you should wait and do more work before you pull the trigger, but a lot of people remain unconvinced,” he said.
He also passed the review of next week’s quarterly reports. All earnings, revenue and economic data estimates courtesy of FactSet.
Tuesday: Goldman Sachs, Morgan Stanley, United Airlines
Goldman Sachs
- Release of Q4 2022 results at 7:30 a.m. ET; conference call at 9:30 a.m. ET
- Estimated EPS: $5.56
- Estimated revenue: $10.76 billion
The company’s shares could rise higher if the earnings report beats expectations, he said.
Morgan Stanley
- Release of Q4 2022 results at 7:30 a.m. ET; conference call at 8:30 a.m. ET
- Estimated earnings per share: $1.29
- Estimated revenue: $12.54 billion
Cramer said he expects “great” message from bank.
United Airlines
- Q4 2022 Earnings Release at 4:30 PM ET; conference call on Wednesday at 10:30 a.m. ET
- Estimated earnings per share: $2.11
- Estimated revenue: $12.23 billion
The company is forecasting great numbers as consumers continue to spend on travel, he predicted.
Wednesday: JB Hunt Transport, Alcoa
JB Hunt Transport
- Q4 2022 Earnings Release Before Bell; conference call at 9:00 a.m. ET
- Estimated earnings per share: $2.45
- Estimated revenue: $3.83 billion
Cramer said he will watch for any signs that trade is slowing.
Alcoa
- Q4 2022 Earnings Release at 4:10 PM ET; conference call at 5:00 PM ET
- Estimated loss: 69 cents per share
- Estimated revenue: $2.65 billion
Metals “have become crazy stock growers. … The aluminum company knows whether the movement in metals is just compression or a real business with real demand,” he said.
Thursday: Procter & Gamble, Netflix
Procter & Gamble
- Release of Q2 2023 results at 6:55 a.m. ET; conference call at 8:30 a.m. ET
- Estimated EPS: $1.58
- Estimated revenue: $20.70 billion
He said he expects the company to report a solid quarter as raw material costs fall and foreign exchange headwinds recede.
Netflix
- Q4 2022 results release at 4:00 PM ET; conference call at 6:00 PM ET
- Projected EPS: 58 cents
- Estimated revenue: $7.84 billion
“I think Netflix could be one of the strongest stories,” he said.
Friday: SLB
- Q4 2022 Earnings Release at 7:00 AM ET; conference call at 9:30 a.m. ET
- Projected EPS: 68 cents
- Estimated revenue: $7.78 billion
“SLB will tell us where the new finds are. They’ll play with an open hand. I bet they’ll also give you a little news about Russia,” he said.
Disclosure: Cramer’s Charitable Trust owns shares of Morgan Stanley and Procter & Gamble.
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