“The sale is probably not over”
CNBC Jim cramer On Friday, we looked at key market events for the next week, which include public remarks from several Federal Reserve officials and earnings reports from Nike and FedEx.
the “Crazy money” the anticipation of the host came after another day of decline for Wall Street, with the Dow Jones Industrial Average losing 533 points on Friday to end its worst week since October.
“The Fed is in warning mode, and warning mode… can be brutal,” Cramer said, adding that history also shows that the end of June is a difficult period for stocks in general. “The bad news is that the sale is probably not over,” he said.
The revenue and earnings per share projections are based on FactSet estimates:
Investors will be keenly aware of what St. Louis Fed Chairman James Bullard has to say on Monday, Cramer said. This is because the central bank official’s interest rate Friday morning comments on CNBC weighed on market sentiment.
“If he doesn’t give up on the 2022 rate hike rhetoric, I expect averages to continue to be met,” Cramer said, explaining that the money would likely continue to “flow into them. high-growth stocks by noon, maybe at the end of the day, that thrive in a slowing economy – Adobe, Nvidia, a few more that I’m going to mention – and then go out of construction, agricultural equipment, aerospace, oil fields, industries. “
The Fed remains at the center of concerns on Tuesday, with the president Jerome Powell planned to make public comments, Cramer said. He expects Powell to simply acknowledge Bullard’s point of view, he said, without forcefully pushing him back.
“If Powell doesn’t defy Bullard’s comments and the market falls, I think it’s time to make selective purchases in higher growth stocks,” Cramer argued, pointing to Adobe, Amazon and Advanced micro-systems like three companies to consider buying.
- Results for the third quarter of fiscal 2021 before the bell; conference call at 10 a.m.ET
- Projected EPS: $ 1.77
- Expected revenue: $ 839 million
“We know the RV and RV industry is on fire right now, but it doesn’t matter at all for inventory,” Cramer said. “A lot of people think this is a pandemic game because Winnebagos are a cleaner, safer way to take vacations, so maybe the stock is going down no matter what,” he said. he declared.
- 2Q results after the bell; conference call at 5 p.m. ET.
- Projected EPS: $ 1.63
- Expected revenue: $ 1.48 billion
The company “needs to confirm everything Lennar just told us about the fantastic state of the real estate market yesterday morning,” Cramer said. “If KB Home does that, I’ll actually come back to Lennar… because he’s the biggest beneficiary in the current cycle and he just reported a great quarter.”
- Results for the third quarter of fiscal 2021 before the bell; 8:00 a.m.ET conference call
- Projected EPS: $ 2.24
- Expected revenue: $ 12.77 billion
- Q4 Fiscal 2021 results after the conference call closed at 5 p.m. ET.
- Projected EPS: 51 cents
- Forecast revenue: $ 11.09 billion
“We expect a lot from their US companies, but at the same time, the possibility of a lower Chinese number… is very much on the table,” Cramer said. However, he said, if Nike meets expectations and management avoids any stumbles on the conference call, “I think they will be rewarded with a series of price target increases, maybe even an upgrade or two. Great story, but not if China remains as important as it once was. “
- Results for the fourth quarter of fiscal 2021 after the bell; conference call at 5 p.m. ET
- Projected EPS: $ 4.98
- Expected revenue: $ 21.47 billion
“I think FedEx is a fantastic situation, but it’s a situation that might not be able to keep up the momentum,” Cramer said.
- Results for the fourth quarter of fiscal 2021 before the bell; conference call at 9:30 a.m.ET
- Projected EPS: 67 cents
- Expected revenue: $ 980 million
“Typically this stock comes up hot and then gets overwritten no matter what it says, even the good stuff. This time the action was overwritten in advance, so it might be a good buy for the quarter, “Cramer said.
- Results 1Q before opening; conference call at 9 a.m.ET
- Projected EPS: $ 1.63
- Expected revenue: $ 6.17 billion
“Now that we finally have a break in commodities, we have to hear that used cars have become more plentiful. Unfortunately, I doubt that’s what we’re going to hear from CarMax,” Cramer said.