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 only going to regret it if you don’t buy anything in the big sell-offs. When the market finally gets oversold enough, though, that’s when you have to pounce,” Cramer said.

Stocks gained on Friday but ended a quick week lower, with losses fueled by warmer-than-expected economic data, the Federal Reserve’s 75-basis rate hike and its hawkish rhetoric on inflation.

“We are in a very emotional moment that has a lot to do with how individual companies are doing and a lot to do with what Wall Street expects from them. The bottom line? is safe from anything,” he said.

Cramer said he was watching for the release of the consumer price index next week, along with scheduled speeches from Cleveland Fed President Loretta Mester that could shake up the market.

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He also looked at next week’s earnings schedule. All earnings and revenue estimates courtesy of FactSet.

Monday: BioNTech, Take-Two Interactive

BioNTech

  • Q3 2022 earnings release at 5 am ET; conference call at 8 am ET
  • Expected EPS: $3.34
  • Estimated revenue: $2.02 billion

Investors who are bullish on BioNTech should cross their fingers that the company reports that China has ordered “more than a billion” of 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
  • Estimated revenue: $1.55 billion

Cramer said it’s an injustice that the company is known as a pandemic game.

Tuesday: GlobalFoundries, Disney, AMC Entertainment

GlobalFoundries

  • Q3 2022 earnings release before the bell; conference call at 8:30 am ET
  • Expected EPS: 62 cents
  • Estimated revenue: $2.05 billion
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He said he’s interested to see if the chip shortage will improve before the economy worsens.

Disney

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

The Charitable Trust is willing to buy more Disney shares if it’s enough, Cramer said.

AMC Entertainment

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

He said that while AMC may turn a profit in the most recent 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
  • Estimated revenue: $871 million

Cramer said his Charitable Trust is holding onto the stock.

Thursday: Compass, Matterport, Toast

Compass

  • Q3 2022 earnings release after bell; conference call at 5 pm ET
  • Estimated loss: 29 cents per share
  • Estimated revenue: $1.45 billion
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Matterport

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

“The era of excess allowed everything and anything to become public, so they did,” Cramer said of Compass and Matterport.

Toast

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

Toast has a good product, but a good product doesn’t necessarily make for a good stock, Cramer said.

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

Cramer's game plan for the trading week of Nov.  7

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