CNBC’s Jim Cramer on Friday previewed the biggest market events scheduled for next week’s holiday-shortened trading window.
“You need to recognize the rockiness of the moment” now that the Federal Reserve has adopted a more aggressive plan to tighten monetary policy, the “Mad Money” host said.
“You don’t want to be heroic here. You’ve probably raised some cash already if you’ve been watching the show or if you’re a member of [the CNBC Investing Club] … so it’s time to put a small amount into action on the way down when everyone freaks out about omicron when we come in on Monday morning.”
Here’s what Cramer will be watching during the four-session week. All estimates are from FactSet.
Monday: Earnings from Micron and Nike
- Q1 2022 results after the bell; conference call at 4:30 p.m. ET
- Projected EPS: $2.10
- Projected revenue: $7.68 billion
“I think it’s still a buy because the secular demand for its chips remains undiminished,” Cramer said.
- Q2 2022 results after the close; conference call at 5 p.m. ET
- Projected EPS: 63 cents
- Projected sales: $11.25 billion
Cramer said he believes that Nike’s business in China will be solid, potentially making it possible for the company’s results to come in better than expected. He added he also holds that outlook for the aforementioned Micron.
“I wish I could be more specific, but they have come down, and they are terrific bounce candidates,” he said.
Tuesday: General Mills and BlackBerry earnings
- Q2 2022 results before the bell; conference call at 9 a.m. ET
- Projected EPS: $1.05
- Projected revenue: $4.84 billion
“The street has decided that Mills, as it’s called, is the right kind of stock to own here,” Cramer said, adding: “It’s got great franchises including terrific stay-at-home cereals that you can eat all day thanks to Covid.”
In particular, Cramer said investors who believe the Federal Reserve will need to be even more aggressive than in its recently released forecast should own General Mills. “If you believe Jay Powell will destroy the economy in order to save it — and I don’t — General Mills is your stock,” he said.
- Q3 2022 results after the close; conference call at 5:30 p.m.
- Projected Loss: Loss of 7 cents per share
- Projected revenue: $174 million
BlackBerry is a meme stock, Cramer reminded viewers, and he said the “meme stock guys” always try their best to get the company’s shares to soar after releasing quarterly numbers.
“They just go to town saying, ‘It’s great and has all of this intellectual property, so who the heck is Jim Cramer to disparage it?’ … I’m a guy who doesn’t want to touch Blackberry, that’s who. Why? Because it continually disappoints.”
Wednesday: Earnings from CarMax, Cintas and Paychex
- Q3 2022 results before the open; conference call at 9 a.m. ET
- Projected EPS: $1.46
- Projected sales: $7.32 billion
Cramer said CarMax, like the other companies reporting Wednesday that he’s highlighting, is a quality stock. He said he continues to like CarMax because of the ongoing used vehicle shortage.
- Q2 2022 results before the bell; conference call at 10 a.m. ET
- Projected EPS: $2.64
- Projected revenue: $1.9 billion
- Q2 2022 results before the bell; conference call at 9:30 a.m. ET
- Projected EPS: 80 cents
- Projected revenue: $1.06 billion
Cramer said Paychex typically reports a solid quarter, but still sees its stock get “obliterated.” However, he said that creates a buying opportunity.
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