CNBC’s Jim Cramer urged investors to take advantage of down days like Friday to prepare portfolios for the Federal Reserve’s upcoming interest rate hikes — but only if they have the means to do so.
“After today’s disaster, we’re actually probably good for another beat-down or two before we settle into what I think will be a feeble midweek rebound,” he said.
“Once again, I want to advise you that you need to take a little off the table into any of the bounces to prep you for the coming rate hikes. You can put a little money to work on days like today … but only if you have the money to begin with,” he later added.
The Dow Jones Industrial Average slipped 2.8% on Friday, its biggest loss since October 2020. The S&P 500 tumbled 2.8%, and the Nasdaq Composite fell 2.6%.
The “Mad Money” host also previewed next week’s slate of earnings.
All earnings and revenue estimates are courtesy of FactSet.
Monday: Coca-Cola
- Q1 2022 earnings release before the bell; conference call at 8:30 a.m. ET
- Projected EPS: 58 cents
- Projected revenue: $9.83 billion
“I’d be a buyer on weakness because Coke has tremendous pricing power,” Cramer said.
Tuesday: Microsoft, Alphabet, Chipotle
Microsoft
- Q3 2022 earnings release after the close; conference call at 5:30 p.m. ET
- Projected EPS: $2.19
- Projected revenue: $49.01 billion
The company “should have a terrific number … but it might not matter because the stock is expensive,” Cramer said.
Alphabet
- Q1 2022 earnings release after the close; conference call at 5 p.m. ET
- Projected EPS: $25.70
- Projected revenue: $68.07 billion
“People have turned on [Alphabet] now because they think online advertising has stopped growing — I think they’re wrong because Google’s a special case,” Cramer said.
Chipotle
- Q1 2022 earnings release at 4:10 p.m. ET; conference call at 4:30 p.m. ET
- Projected EPS: $5.64
- Projected revenue: $2.01 billion
Cramer said the company is a sell in an environment where interest rates will rise.
Wednesday: Boeing, Meta
Boeing
- Q1 2022 earnings release before the bell; conference call at 10:30 a.m. ET
- Projected loss: loss of 25 cents per share
- Projected revenue: $16.02 billion
“We’ve all gotten used to Boeing being ugly, and I expect more ugly,” Cramer said.
Meta
- Q1 2022 earnings release after the close; conference call at 5 p.m. ET
- Projected EPS: $2.56
- Projected revenue: $28.29 billion
Cramer said he thinks the Facebook parent will miss the quarter and cut their forecast. “I’m keeping some powder dry to do some buying for the Charitable Trust,” he added.
Thursday: Twitter, Amazon, Apple
- Q1 2022 earnings release before the bell; conference call at 8 a.m. ET
- Projected EPS: 5 cents
- Projected revenue: $1.23 billion
Cramer said that if the social media company doesn’t announce a new feature or initiative, Elon Musk “should go full corporate raider here and go after Twitter by any means necessary.”
Amazon
- Q1 2022 earnings release at 4:01 p.m. ET; conference call at 5:30 p.m. ET
- Projected EPS: $8.33
- Projected revenue: $116.45 billion
“I think Amazon is meeting no resistance from any other retailer, but it’s still a high-multiple stock, which means it might not be able to put up much of a rally even if the quarter’s spectacular,” Cramer said.
Apple
- Q2 2022 earnings release at 4:30 p.m. ET; conference call at 5 p.m. ET
- Projected EPS: $1.43
- Projected revenue: $94.11 billion
Cramer said that it’s difficult to expect any upside from the iPhone maker considering Covid shutdowns in China.
Friday: Chevron
- Q1 2022 earnings release before the bell; conference call at 11 a.m. ET
- Projected EPS: $3.42
- Projected revenue: $51.14 billion
“I would love to see Chevron stock pull back so we can buy more [for the Charitable Trust] with an even higher dividend yield,” Cramer said.
Disclosure: Cramer’s Charitable Trust owns shares of Amazon, Apple, Boeing, Chevron, Meta and Microsoft.
