Friday, May 31, 2024
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Tech giants report earnings, be prepared for bounces


CNBC’s Jim Cramer urged buyers to benefit from down days like Friday to organize portfolios for the Federal Reserve‘s upcoming rate of interest hikes – however provided that they’ve the means to take action.

“After at present’s catastrophe, we’re really most likely good for one more beat-down or two earlier than we settle into what I feel will probably be a feeble midweek rebound,” he mentioned.

“As soon as once more, I need to advise you that it is advisable to take a bit off the desk into any of the bounces to prep you for the approaching charge hikes. You may put a bit cash to work on days like at present … however solely when you’ve got the cash to start with,” he later added.

The Dow Jones Industrial Common slipped 2.8% on Friday, its greatest loss since October 2020. The S&P 500 tumbled 2.8% and the Nasdaq Composite fell 2.6%. 

The “Mad Money” host additionally previewed subsequent week’s slate of earnings. 

All earnings and income estimates are courtesy of FactSet.

Monday: Coca-Cola

  • Q1 2022 earnings launch earlier than the bell; convention name at 8:30 a.m. ET
  • Projected EPS: 58 cents
  • Projected income: $9.83 billion

“I would be a purchaser on weak point as a result of Coke has large pricing energy,” Cramer mentioned.

Tuesday: Microsoft, Alphabet, Chipotle

Microsoft

  • Q3 2022 earnings launch after the shut; convention name at 5:30 p.m. ET
  • Projected EPS: $2.19
  • Projected income: $49.01 billion

The corporate “ought to have a terrific quantity … nevertheless it won’t matter as a result of the inventory is pricey,” Cramer mentioned.

Alphabet

  • Q1 2022 earnings launch after the shut; convention name at 5 p.m. ET
  • Projected EPS: $25.70
  • Projected income: $68.07 billion

“Individuals have turned on [Alphabet] now as a result of they suppose internet marketing has stopped rising — I feel they’re mistaken as a result of Google’s a particular case,” Cramer mentioned.

Chipotle

  • Q1 2022 earnings launch at 4:10 p.m. ET; convention name at 4:30 p.m. ET
  • Projected EPS: $5.64
  • Projected income: $2.01 billion

Cramer mentioned the corporate is a promote in an atmosphere the place rates of interest will rise.

Wednesday: Boeing, Meta

Boeing

  • Q1 2022 earnings launch earlier than the bell; convention name at 10:30 a.m. ET
  • Projected loss: lack of 25 cents per share
  • Projected income: $16.02 billion

“We have all gotten used to Boeing being ugly, and I anticipate extra ugly,” Cramer mentioned.

Meta

  • Q1 2022 earnings launch after the shut; convention name at 5 p.m. ET
  • Projected EPS: $2.56
  • Projected income: $28.29 billion

Cramer mentioned he thinks the Fb mother or father will miss the quarter and lower their forecast. “I am preserving some powder dry to do some shopping for for the Charitable Belief,” he added.

Thursday: Twitter, Amazon, Apple

Twitter

  • Q1 2022 earnings launch earlier than the bell; convention name at 8 a.m. ET
  • Projected EPS: 5 cents
  • Projected income: $1.23 billion

Cramer mentioned that if the social media firm does not announce a brand new characteristic or initiative, Elon Musk “ought to go full company raider right here and go after Twitter by any means mandatory.”

Amazon

  • Q1 2022 earnings launch at 4:01 p.m. ET; convention name at 5:30 p.m. ET
  • Projected EPS: $8.33
  • Projected income: $116.45 billion

“I feel Amazon is assembly no resistance from some other retailer, nevertheless it’s nonetheless a high-multiple inventory, which suggests it won’t be capable of put up a lot of a rally even when the quarter’s spectacular,” Cramer mentioned.

Apple

  • Q2 2022 earnings launch at 4:30 p.m. ET; convention name at 5 p.m. ET
  • Projected EPS: $1.43
  • Projected income: $94.11 billion

Cramer mentioned that it is troublesome to anticipate any upside from the iPhone maker contemplating Covid shutdowns in China.

Friday: Chevron

  • Q1 2022 earnings launch earlier than the bell; convention name at 11 a.m. ET
  • Projected EPS: $3.42
  • Projected income: $51.14 billion

“I’d like to see Chevron inventory pull again so we are able to purchase extra [for the Charitable Trust] with an excellent greater dividend yield,” Cramer mentioned.

Disclosure: Cramer’s Charitable Belief owns shares of Amazon, Apple, Boeing, Chevron, Meta and Microsoft.



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