CNBC’s Jim Cramer said Friday that he expects a rough start to next week after a dismal finish to April in the stock market.
“I hope next week is better. I have to tell you, I’m not expecting a good day on Monday. When you have a really horrible day like today, sometimes you get a rebound. You get a rebound, and what you have to do is sell that rebound”, the “bad moneysaid the host.
The tech-heavy Nasdaq Composite plunged nearly 4.2% on Friday while the S&P 500 fell 3.6%. The Dow Jones Industrial Average fell about 2.8%. The Nasdaq and S&P 500 finished at new lows for the year.
Cramer said that next week he will be keeping an eye on US employment reports.
“The number of jobs may have peaked because companies that hired extra workers to be covered during the worst days of the pandemic started laying them off.” he said.
He also previewed next week’s earnings list and gave his thoughts on each reporting company. All earnings and revenue estimates courtesy of FactSet.
Monday: Clorox
- Third Quarter 2022 Earnings Release at 4:15 pm ET; conference call at 4:15 pm ET
- Projected EPS: 93 cents
- Projected revenue: $1.79 billion
Cramer said the company needs to report decent numbers for the “worn” stock to go higher.
Tuesday: AMD, Airbnb, Starbucks
- First Quarter 2022 Earnings Release After Close; conference call at 5 pm ET
- Projected EPS: 91 cents
- Projected revenue: $5.01 billion
“Given how far this semiconductor stock has fallen from its highs… even a quarter in line could send it soaring,” Cramer said.
- First Quarter 2022 Earnings Release After Close; conference call at 5:30 pm ET
- Projected loss: loss of 25 cents per share
- Projected revenue: $1.45 billion
Cramer said he thinks Airbnb could tell “a great story.”
- Second Quarter 2022 Earnings Release After Close; conference call at 5 pm ET
- Projected EPS: 60 cents
- Projected revenue: $7.62 billion
While the quarter has likely already felt the effect of the Covid lockdowns in China, union activity could further hurt the company’s performance, Cramer said.
Wednesday: CVS Health, Moderna
- First Quarter 2022 Earnings Release Before Opening; conference call at 8 am ET
- Projected EPS: $2.16
- Projected revenue: $75.54 billion
Cramer said he’s interested in hearing how the company will capitalize on Covid vaccines, saying he thinks consumers have recently rediscovered the company’s stores.
- First Quarter 2022 Earnings Release Before Opening; conference call at 8 am ET
- Projected EPS: $5.37
- Projected revenue: $4.2 billion
“These guys have a lot of money with their covid vaccine, but now they have to do something to expand their portfolio. It can’t be a one-trick pony,” Cramer said.
Thursday: Zoetis, DoorDash
- First Quarter 2022 Earnings Release Before Opening; conference call at 8:30 am ET
- Projected EPS: $1.23
- Projected revenue: $1.98 billion
Cramer said he is confident the company will report big numbers.
- First Quarter 2022 Earnings Release After Close; earnings call at 5 pm ET
- Projected loss: loss of 21 cents per share
- Projected revenue: $1.38 billion
“If DoorDash doesn’t beat easily, it’s a ‘lookout below,'” Cramer said.
Friday: Under Armor
- Earnings release for the fifth quarter of 2022 (transition quarter) at 6:55 am ET; conference call at 8:30 am ET
- Projected EPS: n/a
- Projected Income: n/a
Cramer said he plans to listen to the call but believes Lululemon is the reigning winner in the industry.
Disclosure: Cramer’s Charitable Trust owns AMD stock.