Jim Cramer of CNBC claimed on Monday that the majority of sellers have already left the market, which suggests that the turbulence in the stock market may be about to subside.
This frantic effort to avoid the bad news, he claimed, was evidence that it had already been largely anticipated.
Everyone is rushing to exit this market before anyone else, but many people, he continued, “who were going to sell, have already left, so we could get some pleasant surprises going forward.”
Monday saw a decline in the major indices ahead of a busy week of corporate earnings.
The host of “Mad Money” stated that he will be paying close attention to this week’s consumer price index, producer price index, and retail sales figures.
“Those numbers will be too hot, in my opinion. But I do anticipate some early indications of cooling “said he.
“Everyone is afraid of the data points mentioned above. Additionally, when everyone is terrified, the story usually ends with buyers arriving after the terrible event has passed “Added he.
He also went over this week’s earnings report. FactSet is used to estimate all earnings and revenue.
2/02: PepsiCo
- Early morning conference call at 8:15 a.m. ET follows the release of Q2 2022 earnings.
- EPS forecast: $1.74
- Revenue forecast: $19.51 billion
Since the cost of inputs like corn and aluminum is decreasing, Cramer said he believes the beverage industry giant will present a compelling narrative.
Delta Air Lines on Wednesday
- 7:00 a.m. ET for the release of Q2 2022 earnings; 10:00 a.m. ET for the conference call.
- EPS forecast: $1.66
- Revenue forecast: $12.25 billion
Cramer predicted that consumers would continue to spend money on travel.
Conagra Brands, Cintas, Morgan Stanley, and JPMorgan Chase on Thursday
Morgan Chase & Co
- 7 a.m. ET for the release of Q2 2022 earnings; 8:30 a.m. ET for the conference call.
- EPS forecast: $2.92
- Revenue forecast: $31.81 billion
Stanley Morgan
- 7:30 a.m. ET for the release of Q2 2022 earnings; 9:30 a.m. ET for the conference call.
- EPS anticipated: $1.57
- Revenue forecast: $13.44 billion
Prior to their quarterly reports, Cramer stated that he likes JPMorgan Chase and Morgan Stanley.
Brands Conagra
- 7:30 a.m. ET for the release of the Q4 2022 earnings report; 9:30 a.m. ET for the conference call.
- EPS forecast: 63 cents
- Revenue forecast: $2.93 billion
With the ability to work from home, the value proposition is quite strong, he claimed.
Cintas
- before the opening bell; conference call at 10:00 a.m. ET. Q4 2022 earnings release
- EPS forecast: $2.68
- Revenue forecast: $2.01 billion
Recently, Cramer claimed that he only listened to the company’s conference calls in order to monitor the rate of job creation.
Wells Fargo, Citigroup, BlackRock, and UnitedHealth on Friday
By Wells Fargo
- Release of the Q2 2022 earnings is at 7 a.m. ET, and the conference call is at 10 a.m. ET.
- EPS anticipated: 83 cents
- Revenue forecast: $17.54 billion
There is “little to lose with Wells Fargo and a lot more to gain,” he said, referring to the stock’s current price.
Citigroup
- 8 a.m. ET for the release of Q2 2022 earnings; 11 a.m. ET for the conference call.
- EPS anticipated: $1.67
- Revenue forecast: $18.34 billion
Citi is not the best bank to own, according to Cramer.
BlackRock
- Prior to the opening bell, a conference call will be held to discuss Q2 2022 earnings.
- EPS forecast: $8.07
- Sales forecast: $4.58 billion
BlackRock’s current price, according to Cramer, is favorable.
UnitedHealth
- 5:00 a.m. ET for the release of Q2 2022 earnings; 8:00 a.m. ET for the conference call.
- EPS anticipated: $5.21
- Revenue forecast: $79.68 billion
Cramer stated that although he anticipates United Healthcare to have a strong quarter, he prefers Humana for the Charitable Trust.
The Cramer’s Charitable Trust has disclosed that it owns stock in Humana, Morgan Stanley, and Wells Fargo.
