CNBC’s Jim Cramer on Friday said Wall Street’s recent gains could continue into next week depending on the actions of the Federal Reserve.
“A decision not to raise rates at all could show too much weakness. A quarter-point with a statement that they will remain cautious will allow the bulls to party,” he said.
The central bank is scheduled to conclude its first meeting of the year on Wednesday, with Wall Street widely expected to get a quarter-percent interest rate hike.
Cramer said he would also watch the January nonfarm payrolls report due out on Friday. “If wage inflation is very strong, the quarter-point step will be criticized. If it is weaker, we will hear all about that hard landing,” he said.
All estimates for earnings, revenue and economic data courtesy of FactSet.
Monday: Whirlpool
- Q4 2022 earnings release at 4:05 pm ET; conference call on Tuesday at 8 am ET
- Expected EPS: $3.23
- Estimated revenue: $5.08 billion
He predicted the company will report shrinking air supply chains and a more frugal consumer on the conference call.
Tuesday: Worms, Pfizer, Advanced Micro Devices
larvae
- Q4 2022 earnings release at 6:30 am ET; conference call at 8:30 am ET
- Expected EPS: $4.02
- Estimated income; $15.82 billion
He said the company will likely report a strong quarter.
Pfizer
- Q4 2022 earnings release at 6:45 am ET; conference call at 10 am ET
- Expected EPS: $1.05
- Estimated revenue: $24.44 billion
There is more to the company than unsustainable profits from the Covid vaccine, despite what Wall Street believes, Cramer said.
Advanced Micro Devices
- Q4 2022 earnings release at 4:15 pm ET; conference call at 5 pm ET
- Expected EPS: 67 cents
- Estimated revenue: $5.51 billion
“AMD has a great portfolio right now, and they’re continuing to take market share,” he said.
Wednesday: Meta Platform
- Q4 2022 earnings release at 4:05 pm ET; conference call at 5 pm ET
- Expected EPS: $2.26
- Estimated revenue: $31.54 billion
“What I do know is that the stock has a real run, and while we own it for the Charitable Trust, we’re not beating the table on it. Not here,” Cramer said.
Thursday: Ford Motor, Apple, Amazon, Alphabet
Ford
- Q4 2022 earnings release at 4:05 pm ET; conference call at 5 pm ET
- Expected EPS: 62 cents
- Estimated revenue: $41.39 billion
He said he’s not worried that the price cuts from Tesla will affect demand for Ford’s electric vehicles.
Apple
- Q1 21023 earnings release at 4:30 pm ET; conference call at 5 pm ET
- Expected EPS: $1.94
- Estimated revenue: $121.81 billion
Investors should hold their shares in the iPhone maker, according to Cramer.
Amazon
- Q4 2022 earnings release at 4:01 pm ET; conference call at 5:30 pm ET
- Expected EPS: 17 cents
- Estimated revenue: $145.64 billion
Amazon stock will soar if the company lays off 100,000 employees, he predicted.
Alphabet
- Q4 2022 earnings release at 4 pm ET; conference call at 4:30 pm ET
- Expected EPS: $1.18
- Estimated revenue: $76.17 billion
Cramer said Alphabet will also have to reduce its workforce.
Friday: Regeneron Pharmaceuticals
- Q4 2022 earnings release at 6:30 am ET; conference call at 8:30 am ET
- Expected EPS: $10.1
- Estimated revenue: $3.14 billion
He said he wanted the stock.
Disclaimer; Cramer’s Charitable Trust owns shares of Apple, Amazon, Advanced Micro Devices, Caterpillar, Ford and Meta.
