CNBC’s Jim Cramer said Friday that enduring the current market is a waiting game for a rally — and investors need to be prepared for when that happens.
“Your portfolio should be split among some cash and some stocks that can thrive in a recession. … You need to accept the fact that we’re simply trying to stay in the game until times get better,” the “Mad Money” host said.
“But when we do reach the promised land, it’ll be worth it, because that’s when stocks come roaring back,” he added.
The market concluded a bumpy week of trading on Friday. While the market rallied on Wednesday afternoon following the Federal Reserve’s decision to raise interest rates by 50 basis points, losses on Thursday and Friday demolished those gains. A basis point equals 0.01%.
Cramer said he will be watching for the April consumer price index release next week. “If we do get a weaker CPI figure, the market could rally,” he said.
He also previewed next week’s earnings slate. All earnings and revenue estimates are courtesy of FactSet.
Monday: Tyson Foods, BioNTech
Tyson Foods
- Q2 2022 earnings release before the bell; conference call at 9 a.m. ET
- Projected EPS: $1.89
- Projected revenue: $12.84 billion
Cramer said he’s hoping for any news indicating that food prices are coming down.
BioNTech
- Q1 2022 earnings release before the bell; conference call at 8 a.m. ET
- Projected EPS: $9.65
- Projected revenue: $4.57 billion
Insight into any developments regarding China’s Covid-19 vaccination plans would be helpful, Cramer said.
Tuesday: Peloton, Roblox, RealReal
Peloton
- Q3 2022 earnings release before the bell; conference call at 8:30 a.m. ET
- Projected loss: 84 cents per share
- Projected revenue: $969 million
“I bet we’ll eventually see some sort of ‘WeCrashed’-like TV series about Peloton — if not ‘The Dropout’ — and I wonder who’s going to write the screenplay first,” ‘The Mad Money’ host said, referring to the television dramas detailing scandals at WeWork and Theranos, respectively.
Roblox
- Q1 2022 earnings release after the close; conference call on Wednesday at 8:30 a.m. ET
- Projected loss: 23 cents per share
- Projected sales: $659 million
“Fantastic company, bad stock. … We keep it in the penalty box that all things [metaverse] belong in right now,” Cramer said.
RealReal
- Q1 2022 earnings release after the close; conference call at 5 p.m. ET
- Projected loss: 54 cents per share
- Projected revenue: $136 million
Cramer said he doesn’t understand why the stock is down.
Wednesday: Wendy’s, Rivian
Wendy’s
- Q1 2022 before the bell; conference call at 8:30 a.m. ET
- Projected EPS: 18 cents
- Projected revenue: $497 million
Cramer said he’s interested in hearing whether the company is having staffing issues at its restaurants like others in the industry.
Rivian
- Q1 2022 earnings release after the close; conference call at 5 p.m. ET
- Projected loss: $1.41 per share
- Projected revenue: $133 million
Cramer said he wants to know if Rivian will allow Ford to sell its stake in the electric vehicle maker.
Thursday: Toast, Poshmark
Toast
- Q1 2022 earnings release after the close; conference call at 5 p.m. ET
- Projected loss: 13 cents per share
- Projected revenue: $487 million
Cramer said that he is “anti-Toast” because there are too many players in the restaurant point-of-sale management space.
Poshmark
- Q1 2022 earnings release after the close; conference call at 4:45 p.m. ET
- Projected loss: 25 cents per share
- Projected revenue: $87.6 million
Cramer said he’ll tune in to hear about the company, which he said hurt investors who bought its stock.
Disclosure: Cramer’s Charitable Trust owns shares of Ford.