CNBC’s Jim Kramer said on Friday that next week will be a crucial moment in determining what the upcoming earnings season will look like.
“It’s been years since we were monitored before the announcement, when companies have to admit that things are not going well. Things like higher labor costs, supply chain problems and the Russia-Ukraine war. They can play chaos with corporate results – such chaos that some companies may lower their forecasts next week before they have to report, “said the Mad Money presenter.
“If we go through the next week unscathed by the negative pre-announcements, it makes me feel much more confident that July will not be as bad as what we just went through and will make me feel better.” he added.
Kramer said he was monitoring Case-Shiller’s house price index next week to see if there were any signs that rapidly rising house prices had slowed due to rising Federal Reserve interest rates.
He added that he would review data from the Purchasing Managers’ Index, which is seen as a measure of overall economic health, to shed light on inflation.
However, the most important number for the week will be the price index of personal consumer spending, according to Kramer. “We need to see progress in these inflation figures, or we can expect a new increase in interest rates by 50 or 75 points,” he said.
Kramer also reviewed next week’s earnings list. All profit and revenue forecasts are provided with the kind assistance of FactSet.
Monday: Nike
- Publication of revenue for the fourth quarter of 2022 at 4:15 p.m. ET; conference call at 17:00 ET
- Estimated earnings per share: 81 cents
- Estimated revenue: $ 12.07 billion
“With a great CEO like John Donahu at the helm, I think investors will look at Nike’s weakness in China and buy this thing,” Kramer said.
Tuesday: AeroVironment
- Publication of revenue for the fourth quarter of 2022 at 4:10 p.m. ET; conference call at 4:30 p.m. ET
- Estimated earnings per share: 39 cents
- Estimated revenue: $ 134 million
Kramer said he was interested in whether the US government had ordered more drones from the company to send to Ukraine.
Wednesday: General Mills, McCormick, Bed Bath & Beyond, Paychex
General Mills
- Publication of revenue for the fourth quarter of 2022 at 7 am ET; conference call at 9 a.m. ET
- Estimated earnings per share: $ 1.01
- Estimated revenues; $ 4.8 billion
McCormick
- Publication of revenue for the second quarter of 2022 at 6:30 p.m. ET; conference call at 8 a.m. ET
- Estimated earnings per share: 65 cents
- Estimated revenue: $ 1.61 billion
Both General Mills and McCormick are “high-quality delay stocks,” according to Kramer.
Bed Bath & Beyond
- Publication of revenue for Q1 2022 at 7 a.m. ET; conference call at 8:15 a.m. ET
- Estimated loss: loss of $ 1.38 per share
- Estimated revenue: $ 1.51 billion
“I have always criticized this retailer for endlessly buying back their shares at high prices, with nothing to show for it. … The cash register is declining, “he said.
Paychex
- Publication of revenue for the fourth quarter of 2022 at 8:30 a.m. ET; conference call at 9:30 a.m. ET
- Estimated earnings per share: 80 cents
- Estimated revenue: $ 1.11 billion
“Paychex will make a lot of extra money by raising the Fed’s interest rates because they collect interest while waiting for people to deposit their checks,” Kramer said.
Thursday: Constellation Brands, Micron
Brands Constellation
- Publication of revenue for the first quarter of 2023 at 7:30 ET; conference call at 10:30 a.m. ET
- Estimated earnings per share: $ 2.52
- Estimated revenue: $ 2.16 billion
Kramer said he believes people underestimate the company’s growth.
micron
- Publication of revenue for Q3 2022 at 16:00 ET; conference call at 4:30 p.m. ET
- Estimated earnings per share: $ 2.46
- Estimated revenue: $ 8.67 billion
“I think Micron was seriously hurt by the Chinese blockade and its troubles could be transferred to the whole complex immediately,” he said.
Disclosure: Cramer’s Charitable Trust owns shares in Constellation Brands.
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