Be ready to ‘pounce’ when the market is oversold

CNBC’s Jim Cramer on Friday warned investors not to let their guard down when it comes to their portfolios and be ready to take advantage of good deals.

“In the end, you’re just going to be sad if you don’t buy anything from the supermarket. When the market eventually becomes too crowded, though, that’s when you have to jump in,” he said. Cramer.

Stocks rose on Friday but ended the week lower, with losses driven by warmer-than-expected economic data, the Federal Reserve’s 75 rate hike and hawkish rhetoric. about inflation.

“We are in a very emotional time that has to do with the performance of each company and what Wall Street expects from them. The end? sure of everything,” he said.

Cramer said he is looking ahead to the release of consumer prices next week, along with a scheduled speech from Cleveland Fed President Loretta Mester that could shake up the market.

Also Read :  Midterm elections spur uncertainty in markets

He also previewed next week’s salary schedule. All earnings and estimates are from FactSet.

Monday: BioNTech, Take-Two Interactive

BioNTech

  • Q3 2022 earnings release at 5 a.m. ET; conference call at 8 a.m. ET
  • Expected EPS: $3.34
  • Expected earnings: $2.02 billion

Investors in BioNTech should cross their fingers that the company reports that China has ordered “more than one billion” Covid-19 vaccines, he said.

Take-Two Interactive

  • Q2 2023 earnings at 4:05 pm ET; conference call at 4:30 pm ET
  • Expected EPS: $1.37
  • Expected revenue: $1.55 billion

Cramer says it’s unfair to characterize the company as a stealth game.

Tuesday: GlobalFoundries, Disney, AMC Entertainment

GlobalFoundries

  • Q3 2022 earnings release before the bell; conference call at 8:30 a.m. ET
  • Expected EPS: 62 cents
  • Expected revenue: $2.05 billion

He said he’s interested to see if the chip shortage will improve before the economy takes a turn for the worse.

Also Read :  Shonda Rhimes, other creators unhappy with Netflix's new mid-video ads

Disney

  • Q4 2022 Earnings Release at 4:05 pm ET; conference call at 4:30 pm ET
  • Expected EPS: 55 cents
  • Expected earnings: $21.28 billion

The Charitable Trust is willing to buy more shares of Disney if it declines, Cramer said.

AMC Entertainment

  • Q3 2022 earnings release at 4:15 pm ET; conference call at 5pm ET
  • Estimated loss: 22 cents per share
  • Expected earnings: $961 million

He said even if AMC could turn a profit in the latest quarter, he wouldn’t bet on it.

Wednesday: Wynn Resorts

  • Q3 2022 earnings release at 4 pm ET; conference call at 4:30 pm ET
  • Estimated loss: $1.14 per share
  • Expected earnings: $871 million

Cramer said the Charitable Trust is sticking with the stock.

Thursday: Compass, Matterport, Toast

around

  • Q3 2022 earnings release after bell; conference call at 5pm ET
  • Estimated loss: 29 cents per share
  • Expected earnings: $1.45 billion
Also Read :  Why Berkshire Hathaway’s Latest Big Bet Is on a Taiwanese Chip Maker

Matterport

  • Q3 2022 earnings release after closing; conference call at 4:30 pm ET
  • Estimated loss: 13 cents per share
  • Expected earnings: $36 million

“The age of excess allowed everyone and everything to be informed, so they did,” Cramer said of Compass and Matterport.

Toast

  • Q3 2022 Earnings Release at 4:05 pm ET; conference call at 5pm ET
  • Estimated loss: 8 cents per share
  • Expected revenue: $720 million

Toast has good results, but good results are not necessarily good stocks, Cramer said.

Disclaimer: Cramer’s Charitable Trust owns shares of Disney and Wynn Resorts.

Cramer's game plan for the November 7 trading week

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing no fee to help you build lasting wealth and invest more.

Source

Leave a Reply

Your email address will not be published.

Related Articles

Back to top button