Markets will do “much better” over the next four weeks

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Markets will do
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CNBC’s Jim Cramer told investors on Friday that after a choppy week of trading, he believes stocks will do better going forward.

“You need to adjust your mindset to a world where the bears are finally retreating, because I bet the next four weeks will be much better than what we’re used to,” he said.

Stocks rose on Friday but ended the week lower after digesting a slew of corporate earnings, economic data reports and speeches from Federal Reserve officials. The main indexes are still up for the month.

Cramer attributed the market’s resilience to both exhausted sellers and animal spirits – the tendency for stocks to move based on investor sentiment. “They continue to give us a boost as we are further along in the process of creating a fund,” he said.

He also previewed next week’s earnings list. All earnings and income estimates are courtesy of FactSet.

Monday: JM Smucker, Jacobs Solutions, Dell Technologies, Zoom

J. M. Smucker

  • Second Quarter 2023 Earnings Release at 7:00 a.m. ET; pre-recorded conference call at 7 a.m. ET and conference call at 9 a.m. ET
  • Projected EPS: $2.18
  • Projected revenue: $2.17 billion

Cramer said he expects the company to start the week with a bang.

Jacob’s Solutions

  • Release of fourth quarter 2022 results between 6:15 a.m. and 6:45 a.m. ET; conference call at 10 a.m. ET
  • Projected EPS: $1.77
  • Projected revenue: $3.79 billion

The company will provide insight into the direction federal spending could take from the Biden administration’s infrastructure bill and the CHIPS Act, he predicted.

Dell Technologies

  • Third Quarter 2023 Earnings Release at 4:25 p.m. ET; conference call at 4:30 p.m. ET
  • Projected EPS: $1.68
  • Projected revenue: $24.67 billion

Cramer said he bet the company was feeling the pain of the personal computer inventory glut, but was curious where the company was in the cycle.

Zoom

  • Third Quarter 2023 Earnings Release at 4:05 p.m. ET; conference call at 5 p.m. ET
  • Projected EPS: 88 cents
  • Projected revenue: $1.19 billion

The company should either invest in growth or put itself up for sale, Cramer said.

Tuesday: Best Buy, American Eagle, Burlington, Dollar Tree, Dick’s Sporting Goods

best buy

  • Publication of Q3 2023 results at 7:00 a.m. AND; conference call at 8 a.m. ET
  • Projected EPS: $1.03
  • Projected revenue: $10.31 billion

He said the stock had fallen enough to have a decent risk-reward ratio, especially if it dipped further on Monday.

american eagle

  • Q3 2022 results before the bell; conference call at 11 a.m. ET
  • Projected EPS: 22 cents
  • Projected revenue: $1.21 billion

The stock could finally hit rock bottom, Cramer predicted.

Burlington

  • Third Quarter 2022 Earnings Release at 6:45 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: 52 cents
  • Projected revenue: $2.06 billion

He said he was interested in how the off-price retailer is doing, especially since Ross and TJX recently reported bumper quarters.

dollar tree

  • Third Quarter 2022 Earnings Release at 7:30 a.m. ET; conference call at 9 a.m. ET
  • Projected EPS: $1.18
  • Projected revenue: $6.84 billion

Cramer pointed out that discount stores like Dollar Tree tend to do well during periods of economic volatility.

Dick Sporting Goods

  • Third Quarter 2022 Earnings Release at 7:30 a.m. ET; conference call at 10 a.m. ET
  • Projected EPS: $2.27
  • Projected revenue: $2.70 billion

He said he expects a strong quarter from the company.

Wednesday: Deere

  • Release of fourth quarter 2022 results between 6:15 a.m. and 6:45 a.m. ET; conference call at 10 a.m. ET
  • Projected EPS: $7.12
  • Projected revenue: $13.45 billion

“I think the agricultural cycle is one of the most persistent themes this year, and Deere is at the center of it,” he said.

Disclaimer: Cramer’s Charitable Trust owns shares of TJX.

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