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‘Odd time’ for markets but earnings matter again

‘Odd time’ for markets but earnings matter again

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CNBC’s Jim Cramer on Friday outlined his game plan for next week after Wall Street concluded its first five trading sessions of 2022.

The “Mad Money” host said it’s “a bit of an odd time” for markets right now, “almost as if many stocks have to take their medicine and then get back on track. “

“This week we saw the unprofitable techs get a drubbing, which then spread into the more mature, profitable ones,” Cramer said. However, he added, “it’s a heck of a lot easier to buy the stock of an established company that’s actually making money. Yep, earnings are what matters again, tangible GAAP earnings.”

Here’s what Cramer is watching for next week. All revenue and earnings estimates are from FactSet.

Jim Cramer’s game plan for the trading week of Jan. 10.

Mad Money with Jim Cramer

Monday: JPMorgan Health Care Conference and Tilray earnings

JPMorgan Health Care Conference

Now in its 40th year, the JPMorgan Health Care Conference is a hugely influential event, Cramer said, explaining that company presentations made there are known to move stocks. The virtual conference starts Monday and lasts through Thursday.

Tilray

  • Q2 2022 earnings before the bell; conference call at 8:30 a.m. ET Monday
  • Projected loss: Loss of 7 cents per share
  • Projected revenue: $200 million

Tuesday: Albertsons earnings and Dell Technologies investor meeting

Wednesday: KB Home earnings

Thursday: Delta Air Lines earnings

Friday: Earnings from Wells Fargo, JPMorgan, BlackRock and Citigroup

Wells Fargo

  • Q4 2021 earnings before the bell; conference call at 10 a.m. ET Friday
  • Projected EPS: $1.10
  • Projected revenue: $18.67 billion

Cramer, whose charitable trust has a sizable position in Wells Fargo, said he believes the bank is going to have a strong 2022. However, he acknowledged the stock is off a hot start, up roughly 14{067fe502a31e650c5185733df64156900ec267ebfd90cbebf0b3fe89b5b413d8} year to date already. He said it’s not clear that pace can continue, but future pullbacks may present buying opportunities.

JPMorgan

  • Q4 2021 earnings before the open; conference call at 8:30 a.m. ET Friday
  • Projected EPS: $3.00
  • Projected revenue: $29.85 billion

CEO Jamie Dimon “tends to be very optimistic, but also mixes in a few Molotov’s along with his otherwise easy-to-down economic cocktails,” Cramer said.

BlackRock

  • Q4 2021 earnings before the bell; conference call at 8:30 a.m. ET Friday
  • Projected EPS: $10.10
  • Projected revenue: $5.12 billion

Cramer said he expects a strong quarter, adding that he’s looking forward to hearing insights into the company, the market and the economy from BlackRock CEO Larry Fink.

Citigroup

  • Q4 2021 earnings before the open; conference call at 11 a.m. ET Friday
  • Projected EPS: $1.55
  • Projected revenue: $16.92 billion

Cramer said he’s watching to see if CEO Jane Fraser can offer commentary that’s optimistic enough to move Citigroup’s stock higher, allowing it to catch up with some peers. Additionally, he said he’s looking for more information about Citi pausing its share repurchase program in December.

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Disclosure: Cramer’s charitable trust owns shares of Wells Fargo and Disney.

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