CNBC’s Jim Cramer is eager to focus on the stock market again, but the cryptocurrency craze is still attracting Wall Street’s attention.
He assumes that Bitcoin and other speculative coins will continue to be in the foreground and that the sharp declines in the crypto markets will weigh on stocks. This could create buying opportunities for investors in stocks as another week of profits goes by.
“All in all, this is a historically slow week, but there are enough new companies reporting that they are now full,” said Cramer on Friday at Mad Money, discussing his schedule for the next week.
The coming week will close trading for the month. With the exception of the Dow Jones Industrial Average, the major US indices have fallen since the beginning of the month. The tech-heavy Nasdaq Composite was down 3.5% in May, while the S&P 500 lost 0.6% over the period. The Dow was up about 1% in May.
Cramer gave viewers a preview of the upcoming corporate earnings reports he circled on his calendar.
“Maybe, just maybe, bitcoin can overshadow as long as Elon Musk can shut up about crypto,” he said.
The forecasts for sales and earnings per share are based on FactSet estimates:
Monday: Lordstown Motors win
Lordstown Motors
- Earnings publication for the first quarter of 2021: after market entry; Conference call: 4:30 p.m.
- Estimated losses per share: 28 cents
- Estimated Revenue: $ 0
“Right now, this market despises all SPAC games before sales because they have burned people so badly over the past few months,” said Cramer. “Lordstown’s stock is down about 70% from its highs. I don’t know how to get your mojo back, but maybe they’ll surprise me.”
Tuesday: Autozone, Intuit, Toll Brothers revenue
Car zone
- Publication of the results for the third quarter of 2021: before the market; Conference call: 10 a.m.
- Projected earnings per share: $ 20.13
- Estimated Revenue: $ 3.27 billion
“This is a very reliable company so you can get into the zone both before and after winning,” said Cramer.
Intuit
- Earnings release for the third quarter of the financial year 2021: after the market starts; Conference call: 4:30 p.m.
- Projected earnings per share: $ 6.51
- Estimated Revenue: $ 4.42 billion
“Intuit stock hit an all-time high today,” he said. “I don’t think that will put buyers off.”
Great brothers
- Publication of the results for the second quarter of 2021: after the start of the market; Conference call: Wednesday, 8:30 a.m.
- Projected EPS: 80 cents
- Estimated Revenue: $ 1.78 billion
“If Toll tells a story of strong orders and … rising gross margins, I think the stock can get its groove back,” said the host. “But everything has to be perfect, including assuring management that the cost of lumber and equipment are actually under control.”
Wednesday: Dicks Sporting Goods, American Eagle Outfitters, Williams-Sonoma, Nvidia, Snowflake, Okta, Workday Revenue
Dick’s sporting goods
- Earnings release for the first quarter of 2021: ahead of the market; Conference call: Wednesday, 8:30 a.m.
- Projected earnings per share: $ 1.16
- Estimated Revenue: $ 2.2 billion
“I bet they are staggering numbers because all kinds of sporting goods are in short supply as Americans venture out en masse,” Cramer said.
American Eagle Outfitter
- Earnings release for the first quarter of 2021: 4:15 p.m. Conference call: 4:30 p.m.
- Projected EPS: 46 cents
- Estimated Revenue: $ 1.02 billion
“I think we could see similar strength from American Eagle as it is the hottest clothing chain in the world right now,” he said.
Williams-Sonoma
- Earnings publication for the first quarter of 2021: after market entry; Conference call: 5 p.m.
- Projected earnings per share: $ 1.72
- Estimated revenue: $ 1.5 billion
“I expect big numbers, but it has recently been classified as a ‘stay-at-home’ inventory which is the kiss of death in this post-pandemic market,” the host said.
Nvidia
- Publication of the results for the first quarter of 2022: after the start of the market; Conference call: 5 p.m.
- Projected earnings per share: $ 3.28
- Estimated Revenue: $ 5.39 billion
“I think the chipmaker has a lot going for it, but I still want to hear how confident it is that it will get regulatory approval to acquire Arm Holdings,” he said.
Snowflake
- Publication of the results for the first quarter of 2022: after the start of the market; Conference call: 5 p.m.
- Estimated losses per share: 16 cents
- Estimated Revenue: $ 360 million
Octa
- Publication of the results for the first quarter of 2022: after the start of the market; Conference call: 5 p.m.
- Estimated losses per share: 12 cents
- Estimated Revenue: $ 309 million
“They are two of the fastest growing companies in the world,” said Cramer. “I expect big numbers from both of them, but only buy them if you think this market will change its stance on soaring growth names that don’t trade in income – they trade in sales.”
working day
- Publication of the results for the first quarter of 2022: after the start of the market; Conference call: 4:30 p.m.
- Projected EPS: 73 cents
- Estimated Revenue: $ 1.16 billion
“Workday should have another impressive quarter as cloud software is used 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, and Dell Revenue
Best buy
- Publication of first quarter results: 7am; Conference call: 8 a.m.
- Projected earnings per share: $ 1.36
- Estimated Revenue: $ 10.32 billion
Dollar general
- Publication of the first quarter results: TBD; Conference call: 10 a.m.
- Projected earnings per share: $ 2.13
- Estimated Revenue: $ 8.16 billion
Money tree
- Earnings release for the first quarter of 2021: TBD; Conference call: 5 p.m.
- Projected earnings per share: $ 1.40
- Estimated Revenue: $ 6.4 billion
“I like all three and think they are good stimulus games, but their stocks have gotten terribly controversial and I don’t really care about controversy,” said Cramer. “There are easier ways to make money.”
Medtronic
- Publication of results for the fourth quarter of 2021: 6:45 a.m. Conference call: 8 a.m.
- Projected earnings per share: $ 1.42
- Estimated Revenue: $ 8.14 billion
“I bet they are reporting a stellar number because their medical devices are being installed in record numbers after the pandemic,” he said. “There is a lot of catching up to do with people who delayed surgery until they could be vaccinated.”
gap
- Publication of results for the first quarter: 4:15 pm; Conference call: 5 p.m.
- Estimated losses per share: 6 cents
- Estimated Revenue: $ 3.41 billion
“Gap is very much back, something that you can tell when you visit the shops: fresh, clean and reasonable prices,” said the host.
Ulta Beauty
- Earnings publication for the first quarter of 2021: after market entry; Conference call: 4:30 p.m.
- Projected earnings per share: $ 1.95
- Estimated Revenue: $ 1.65 billion
“Ulta is a big winner when everyone can take off their masks,” he said.
Costco
- Publication of the results for the third quarter of 2021: 4:15 p.m. Conference call: 5 p.m.
- Projected earnings per share: $ 2.31
- Estimated Revenue: $ 43.64 billion
“Costco has a tendency to run into the quarter and then sell right away, even when the numbers are great. It doesn’t matter what they print,” said Cramer. “I love Costco, the store, I love Costco, the supply … but you don’t want to buy it until you see the results – let this come to you.”
Foreclosure
- Publication of the results for the first quarter of 2022: after the start of the market; Conference call: 5 p.m.
- Projected EPS: 88 cents
- Estimated Revenue: $ 5.89 billion
“Salesforce reported a Barnburner last time, and it didn’t seem to care, maybe because they have yet to finalize the Slack acquisition,” he said.
Dell
- Earnings release for the first quarter of 2022: 5:30 p.m. Conference call: 5:30 p.m.
- Projected earnings per share: $ 1.71
- Estimated Revenue: $ 23.80 billion
“You can buy it ahead of schedule because [CEO] Michael Dell will tell a fantastic story, “said the host.” I bet they’ll have a great quarter. “
Friday: Big Lots, Hibbett Sports Income
Large quantities
- Earnings release for the first quarter of 2021: TBD; Conference call: 8 a.m.
- Projected earnings per share: $ 1.69
- Estimated Revenue: $ 1.54 billion
Hibbett Sports
- Earnings release for the first quarter of 2022: after market entry; Conference call: 5 p.m.
- Projected earnings per share: $ 2.56
- Estimated Revenue: $ 404 million
“I bet they’ll both be great,” said Cramer.
Disclosure: Cramer’s charitable foundation owns shares in Salesforce, Nvidia, and Costco.
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