Kramer’s Week Comes: Jam-packed earnings season continues

CNBC’s Jim Cramer said Friday he expects a rough start to the week ahead following a dismal end to April in the stock market.

“Hopefully next week will be better. I have to tell you, I don’t expect a good Monday. When you have a really terrible day like today, sometimes you get a bounce. What you have to do is sell that bounce,” said the host of “Mad Money” .

The Nasdaq Tech Culture Composite Index is down nearly 4.2% on Friday while the S&P 500 is down 3.6%. The Dow Jones Industrial Average is down nearly 2.8%. The Nasdaq and S&P 500 finished at new lows for the year.

Cramer said that next week he will be watching the US employment reports.

“It’s possible that job numbers have peaked because companies that have hired additional workers to be covered during the worst days of the pandemic have started letting them go,” He said.

He also previewed next week’s earnings list and offered his thoughts on each reporting company. All profit and revenue estimates are provided by FactSet.

Monday: Clorox

Clorox

  • Q3 2022 earnings announcement at 4:15 p.m. ET; Conference call at 4:15 p.m. ET
  • Expected EPS: 93 cents
  • Expected revenue: $1.79 billion

Kramer said the company needs to report appropriate numbers to send the “torn” stock higher.

Tuesday: AMD, Airbnb, Starbucks

AMD

  • Announcing Q1 2022 earnings after closing; Conference call at 5 p.m. ET
  • Expected earnings per share: 91 cents
  • Expected revenue: $5.01 billion

“Given the extent to which this semiconductor stock has fallen from its highs…even a quarter in the line could send it flying,” Kramer said.

Airbnb

  • Announcing Q1 2022 earnings after closing; Conference call at 5:30 p.m. ET
  • Expected loss: Loss of 25 cents per share
  • Expected revenue: $1.45 billion

Kramer said he thinks Airbnb can tell a “wonderful story.”

Starbucks

  • Announcing Q2 2022 earnings after closing; Conference call at 5 p.m. ET
  • Expected EPS: 60 cents
  • Expected revenue: $7.62 billion

Cramer said that while the quarter has already felt the impact of the Covid shutdown in China, union activity will likely hurt the company’s performance further.

Wednesday: CVS Health, Moderna

CVS Health

  • Announcing Q1 2022 earnings before opening; Conference call at 8 a.m. ET
  • Expected EPS: $2.16
  • Expected revenue: $75.54 billion

Cramer said he was interested in seeing how the company would benefit from Covid vaccines, saying he believes consumers have recently rediscovered the company’s stores.

Moderna

  • Announcing Q1 2022 earnings before opening; Conference call at 8 a.m. ET
  • Expected EPS: $5.37
  • Expected revenue: $4.2 billion

“These guys have a lot of money off their Covid vaccine, but now they have to do something to expand their wallet. It can’t be just one hoax,” Kramer said.

Thursday: Zoetis, DoorDash

Zoetis

  • Announcing Q1 2022 earnings before opening; Conference call at 8:30 a.m. ET
  • Expected EPS: $1.23
  • Expected revenue: $1.98 billion

Cramer said he’s confident the company will report big numbers.

DoorDash

  • Announcing Q1 2022 earnings after closing; Earnings call at 5 p.m. ET
  • Expected loss: Loss of 21 cents per share
  • Expected revenue: $1.38 billion

If DoorDash is not easily overpowered, Kramer said, it will be a ‘watch at the bottom’.

Friday: Under Armor

under the shield

  • release of earnings for the fifth quarter of 2022 (transitional quarter) at 6:55 a.m. ET; Conference call at 8:30 a.m. ET
  • Expected earnings per share: Not available
  • Expected Revenue: Not Available

Kramer said he plans to hear the call but believes Lululemon is the winner in the industry.

Disclosure: The Kramer Charitable Fund owns shares in AMD.

Leave a Comment