Business
This week of earnings will be a “more difficult test”
For once, the stock market has functioned like a stock market, CNBC Jim Cramer said on Friday.
The Dow Jones Industrial Average rose 260 points, or 1.11%, to 23,775.27, while the S&P 500 rose 1.39% and the Nasdaq Composite rose 1.65%.
“February and March were hideous, so it’s good that April gives us a rebound,” said the host of “Mad Money”.
It was only the 14th time that the Dow Jones had closed up or down in 300 points in a single trading day since fears of coronaviruses hit the investment community in mid-February, causing drop the Dow Jones by more than 38% since its close. During this same period, the first-order average posted four-digit increases or decreases in the total of 15 sessions.
The 30-share index hit a low close to 18,000 in late March and has since reduced some of its losses, although it remains around 20% of its close at 29,551.42 on February 12.
“[W]We have had a series of positive reports on the benefits of inventory of packaged goods for railways and even a casino, “said Cramer.” Next week is a more difficult test, as it is crammed with tech stocks, including some household names that have risen significantly from their March lows. “
Cramer has commented on corporate earnings reports he has circled on his calendar next week. All earnings and revenue estimates are based on FactSet projections.
Monday: the benefits of NXP Semiconductors
NXP Semiconductorsannounces first quarter results after market close. The auto and mobile chip producer will hold a conference call Tuesday morning.
- Projected revenues: $ 2 billion
“It’s a chip maker with a window on Apple, which will report on Thursday,” said Cramer, but “it’s worth focusing only on information about Apple, even if they can’t actually mention Apple by name. “
Tuesday: PepsiCo, Caterpillar, 3M, Merck, Pfizer, Alphabet, Starbucks, Advanced Micro Devices earnings
PepsiCoannounces first quarter results before morning bell.
- Projected revenues: $ 13.2 billion
Rival Coca-Cola has seen a noticeable drop in its soft drink business, but “PepsiCo is more diverse … they own Frito-Lay, and when people work from home, they can’t resist; they nibble,” a said Cramer. “I bet they posted great numbers.”
caterpillarreports before market opening.
- Projected revenues: $ 11 billion
“[I]It will take a miracle to get really decent results given the weakness of their end markets, “he said.” Even if China’s rebound is less important for CAT than oil and gas, and they are in horrible shape. “
3Mannounces its first quarter results before the opening bell.
- Projected Revenues: $ 7.9 billion
“We know that 3M masks are selling so well that they are almost impossible to find,” he said, but “like Caterpillar, many of their end markets stink.”
Merckreports the results of the first three months of the year in the morning.
- Projected Revenues: $ 11.48 billion
Pfizerannounces its quarterly results before the opening bell.
- Projected Revenues: $ 11.17 billion
“Pfizer is working on a COVID vaccine,” he said. “They played it near the waistcoat, but … I heard good things.”
Alphabet announces performance for March quarter after market close.
- Projected revenues: $ 41 billion
“The stock tends to hit after profits and then spends the next three months recovering,” he said. “So if you like this one, I recommend putting a half position before the trimester [and] half after. “
Starbucks announces its results for the second quarter of fiscal 2020 after the closing bell.
- Projected Revenues: $ 5.9 billion
“You are not buying Starbucks for its short term performance, people. You are buying it for its long term performance,” he said.
Advanced micro-systems announces first quarter results in the afternoon.
- Projected revenues: $ 1.8 billion
“Their last quarter has been great, but the title has been foolishly bombed anyway,” he said. “Hopefully this will happen and give you another great buying opportunity like this.”
Wednesday: General Electric, Facebook, Microsoft results
General Electric publishes its quarterly results before the market opens.
- Projected revenues: $ 20 billion
“It’s a 2021 stock,” said Cramer.
Facebookannounces first quarter results after market close.
- Projected Revenues: $ 17.4 billion
“Facebook is widely regarded as failing because it has so much publicity,” he said. “For once, I think conventional wisdom is right.”
Microsoftannounces quarterly results for its third fiscal quarter of 2020 in the afternoon.
- Projected Revenues: $ 33.8 billion
“Wall Street loves Microsoft as the anointed technology winner,” he said.
Thursday: results from Kraft Heinz, Amazon, Apple and Gilead Sciences
Kraft Heinz announces first quarter results before morning bell.
- Projected revenues: $ 6 billion
“Kraft Heinz’s poor performance is almost legendary, but I think even they can’t spoil it,” said Cramer. “It’s the gang that couldn’t shoot straight at the fish in a barrel. For once, you have to bet on Kraft Heinz.”
Amazon reports the results after the closing bell.
- Projected revenues: $ 73 billion
“I think Amazon is in great shape, but the share price is such that they may have a hard time crossing the incredibly high bar they’ve set for themselves,” he said. “Having said that, I wouldn’t go over them. You don’t hire 175,000 people because you don’t have a lot of business.”
Appleannounces second quarter results for fiscal 2020 in the afternoon.
- Projected Revenues: $ 54.8 billion
“Although this is a bit of a meaningless quarter, what awaits them is 5G and a booming service revenue stream that I think many quarantined people have sampled” , did he declare. “Remember, this market likes companies that can still raise their dividends and buy large pieces of stock without having to borrow money.”
GileadSciencesannounces first quarter results after end of trading day.
- Projected revenues: $ 5.45 billion
- Projected EPS: $ 1.58
Cramer said he hoped to find out the truth about Gilead’s antiviral remdesivir after the public received conflicting information about studies of the drug to be used against Covid-19.
Friday: Estee Lauder, Honeywell, Colgate and Clorox wins
Estee Lauderannounces its results for the third quarter of fiscal 2020 before the morning bell.
- Projected revenues: $ 3 billion
“They have a lot of exposure in Southeast Asia, which is the only region that bounces back from the virus,” said Cramer. “If the people out there buy makeup now and the influencers are back, I think this stock can really rally.”
Honeywellcommunicates its results before the market opens.
- Projected revenues: $ 8.6 billion
“I predict solid numbers and a great buying opportunity,” he said.
Colgate-Palmoliveannounces first quarter results in the morning.
- Projected revenues: $ 4 billion
Clorox announces its third quarter results for fiscal 2020 in the morning.
- Projected revenues: $ 1.7 billion
“I bet they (Colgate and Clorox) both surprise on the upside, especially Clorox, since the whole world is now on a clean foot,” he said.
Disclosure: Cramer’s charitable trust holds shares of Clorox, Colgate, Honeywell, Amazon, Apple, Microsoft, Facebook, Alphabet, Starbucks and PepsiCo.
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