On Friday, CNBC’s Jim Cramer warned investors not to let their guard down when it comes to their portfolios and be ready to take advantage of bargains.
“At the end of the day, you’re just going to feel sorry if you don’t buy anything during big sales. When the market finally gets sufficiently oversold, that’s when you need to pounce,” Cramer said.
Stocks gained on Friday but ended a volatile week lower, with losses spurred by warmer-than-expected economic data, the Federal Reserve’s 75 basis point rate hike and its hawkish inflation rhetoric.
“We are in an extremely emotional time that has a lot to do with how individual companies are doing and a lot to do with what Wall Street expects of them. Ultimately? Until those expectations are met. reduced, you shouldn’t feel safe in anything,” he said.
Cramer said he was watching for the Consumer Price Index release next week, as well as scheduled speeches by Cleveland Fed Chair Loretta Mester that could further shake up the market.
He also previewed next week’s earnings schedule. All earnings and income estimates are courtesy of FactSet.
Monday: BioNTech, Take-Two Interactive
BioNTech
- Third Quarter 2022 Earnings Release at 5:00 a.m. ET; conference call at 8 a.m. ET
- Projected EPS: $3.34
- Projected revenue: $2.02 billion
Investors bullish on BioNTech should cross their fingers that the company reports that China has ordered “over a billion” Covid-19 vaccines, he said.
Interactive Take-Two
- Q2 2023 results as of 4:05 p.m. ET; conference call at 4:30 p.m. ET
- Projected EPS: $1.37
- Projected revenue: $1.55 billion
Cramer said it is an injustice that the company is known as a pandemic play.
Tuesday: GlobalFoundries, Disney, AMC Entertainment
GlobalFoundries
- Publication of the results for the third quarter of 2022 before the bell; conference call at 8:30 a.m. ET
- Projected EPS: 62 cents
- Projected revenue: $2.05 billion
He said he wanted to know if the chip shortage would improve before the economy got worse.
disney
- Fourth Quarter 2022 Earnings Release at 4:05 p.m. ET; conference call at 4:30 p.m. ET
- Projected EPS: 55 cents
- Projected revenue: $21.28 billion
The Charitable Trust is ready to buy more Disney stock if the drop is enough, Cramer said.
AMC Entertainment
- Third Quarter 2022 Earnings Release at 4:15 p.m. ET; conference call at 5 p.m. ET
- Expected loss: 22 cents per share
- Forecast revenue: $961 million
He said that even if AMC could make a profit in its final quarter, he wouldn’t bet on it.
Wednesday: Wynn Resorts
- Third Quarter 2022 Earnings Release at 4:00 p.m. ET; conference call at 4:30 p.m. ET
- Expected loss: $1.14 per share
- Forecast revenue: $871 million
Cramer said his Charitable Trust is sticking with the stock.
Thursday: Compass, Matterport, Toast
Compass
- Publication of third quarter 2022 results after the bell; conference call at 5 p.m. ET
- Expected loss: 29 cents per share
- Projected revenue: $1.45 billion
Matterport
- Publication of third quarter 2022 results after closing; conference call at 4:30 p.m. ET
- Expected loss: 13 cents per share
- Projected revenue: $36 million
“The Age of Excess allowed anyone and anything to go public, so they did,” Cramer said of Compass and Matterport.
Toast
- Third Quarter 2022 Earnings Release at 4:05 p.m. ET; conference call at 5 p.m. ET
- Expected loss: 8 cents per share
- Projected revenue: $720 million
Toast has a good product, but a good product doesn’t necessarily make a good stock, Cramer said.
Disclaimer: Cramer’s Charitable Trust owns shares of Disney and Wynn Resorts.
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