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Tech giants report earnings, be ready for bounces

CNBC’s Jim Cramer urged buyers to make the most of down days like Friday to organize portfolios for the Federal Reserve’s upcoming rate of interest hikes — however provided that they’ve the means to take action.

“After right now’s catastrophe, we’re really most likely good for an additional beat-down or two earlier than we settle into what I believe shall be a feeble midweek rebound,” he mentioned.

“As soon as once more, I wish to advise you that it is advisable to take slightly off the desk into any of the bounces to prep you for the approaching price hikes. You possibly can put slightly cash to work on days like right now … however solely when you’ve got the cash to start with,” he later added.

The Dow Jones Industrial Common slipped 2.8% on Friday, its largest loss since October 2020. The S&P 500 tumbled 2.8%, and the Nasdaq Composite fell 2.6%. 

The “Mad Cash” host additionally previewed subsequent week’s slate of earnings. 

All earnings and income estimates are courtesy of FactSet.

Monday: Coca-Cola

  • Q1 2022 earnings launch earlier than the bell; convention name at 8:30 a.m. ET
  • Projected EPS: 58 cents
  • Projected income: $9.83 billion

“I might be a purchaser on weak point as a result of Coke has great pricing energy,” Cramer mentioned.

Tuesday: Microsoft, Alphabet, Chipotle

Microsoft

  • Q3 2022 earnings launch after the shut; convention name at 5:30 p.m. ET
  • Projected EPS: $2.19
  • Projected income: $49.01 billion

The corporate “ought to have a terrific quantity … however it won’t matter as a result of the inventory is pricey,” Cramer mentioned.

Alphabet

  • Q1 2022 earnings launch after the shut; convention name at 5 p.m. ET
  • Projected EPS: $25.70
  • Projected income: $68.07 billion

“Folks have turned on [Alphabet] now as a result of they assume internet marketing has stopped rising — I believe they’re improper as a result of Google’s a particular case,” Cramer mentioned.

Chipotle

  • Q1 2022 earnings launch at 4:10 p.m. ET; convention name at 4:30 p.m. ET
  • Projected EPS: $5.64
  • Projected income: $2.01 billion

Cramer mentioned the corporate is a promote in an setting the place rates of interest will rise.

Wednesday: Boeing, Meta

Boeing

  • Q1 2022 earnings launch earlier than the bell; convention name at 10:30 a.m. ET
  • Projected loss: lack of 25 cents per share
  • Projected income: $16.02 billion

“We have all gotten used to Boeing being ugly, and I anticipate extra ugly,” Cramer mentioned.

Meta

  • Q1 2022 earnings launch after the shut; convention name at 5 p.m. ET
  • Projected EPS: $2.56
  • Projected income: $28.29 billion

Cramer mentioned he thinks the Fb mum or dad will miss the quarter and lower their forecast. “I am retaining some powder dry to do some shopping for for the Charitable Belief,” he added.

Thursday: Twitter, Amazon, Apple

Twitter

  • Q1 2022 earnings launch earlier than the bell; convention name at 8 a.m. ET
  • Projected EPS: 5 cents
  • Projected income: $1.23 billion

Cramer mentioned that if the social media firm does not announce a brand new function or initiative, Elon Musk “ought to go full company raider right here and go after Twitter by any means vital.”

Amazon

  • Q1 2022 earnings launch at 4:01 p.m. ET; convention name at 5:30 p.m. ET
  • Projected EPS: $8.33
  • Projected income: $116.45 billion

“I believe Amazon is assembly no resistance from every other retailer, however it’s nonetheless a high-multiple inventory, which suggests it won’t be capable of put up a lot of a rally even when the quarter’s spectacular,” Cramer mentioned.

Apple

  • Q2 2022 earnings launch at 4:30 p.m. ET; convention name at 5 p.m. ET
  • Projected EPS: $1.43
  • Projected income: $94.11 billion

Cramer mentioned that it is troublesome to anticipate any upside from the iPhone maker contemplating Covid shutdowns in China.

Friday: Chevron

  • Q1 2022 earnings launch earlier than the bell; convention name at 11 a.m. ET
  • Projected EPS: $3.42
  • Projected income: $51.14 billion

“I might like to see Chevron inventory pull again so we are able to purchase extra [for the Charitable Trust] with an excellent increased dividend yield,” Cramer mentioned.

Disclosure: Cramer’s Charitable Belief owns shares of Amazon, Apple, Boeing, Chevron, Meta and Microsoft.

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