Large week of earnings with Snowflake and Toll Brothers reporting

CNBC’s Jim Cramer is raring to start focusing again on the inventory market, however the cryptocurrency craze remains to be capturing Wall Avenue’s consideration.

He expects that bitcoin and different speculative cash will proceed to be high of thoughts, and the massive declines being witnessed in crypto markets will drag on shares. This might create shopping for alternatives for traders in shares as one other packed week of earnings rolls by.

“All in all, it is a traditionally sluggish week, however there are sufficient new corporations reporting that it is now jam-packed,” Cramer, discussing his sport plan for subsequent week, mentioned on “Mad Cash” Friday.

The week forward will shut out buying and selling for the month. Except the Dow Jones Industrial Common, the main U.S. indexes are down month thus far. The tech-heavy Nasdaq Composite is down 3.5% in Could, whereas the S&P 500 has misplaced 0.6% over that point interval. The Dow is up about 1% in Could.

Cramer gave viewers a preview of the upcoming company earnings studies he has circled on his calendar.

“Perhaps, simply perhaps, that may overshadow bitcoin, so long as Elon Musk can hold his mouth shut about crypto,” he mentioned.

Projections for income and earnings per share are primarily based on FactSet estimates:

Lordstown Motors

• Q1 2021 earnings launch: after market; convention name: 4:30 p.m.
• Projected losses per share: 28 cents
• Projected income: $0

“Proper now, this market despises all of the pre-revenue SPAC performs as a result of they burned individuals so badly over the previous couple of months,” Cramer mentioned. “Lordstown’s inventory’s down roughly 70% from its highs. I do not know the way they will get their mojo again, however, , perhaps they’re going to shock me.”

Autozone

• Fiscal Q3 2021 earnings launch: earlier than market; convention name: 10 a.m.
• Projected EPS: $20.13
• Projected income: $3.27 billion

“It is a very dependable firm, so you will get within the zone each earlier than and after earnings,” Cramer mentioned.

Intuit

• Fiscal Q3 2021 earnings launch: after market; convention name: 4:30 p.m.
• Projected EPS: $6.51
• Projected income: $4.42 billion

“Intuit’s inventory hit an all-time excessive as we speak,” he mentioned. “I do not assume that is going to discourage consumers.”

Toll Brothers

• Fiscal Q2 2021 earnings launch: after market; convention name: Wednesday, 8:30 a.m.
• Projected EPS: 80 cents
• Projected income: $1.78 billion

“If Toll tells a narrative of robust orders and … increasing gross margins, I feel the inventory can get its groove again,” the host mentioned. “However all the pieces needs to be good, together with assurances from administration that lumber and equipment prices are certainly beneath management.”

Dick’s Sporting Items

• Q1 2021 earnings launch: earlier than market; convention name: Wednesday, 8:30 a.m.
• Projected EPS: $1.16
• Projected income: $2.2 billion

“I wager they ship astounding numbers as a result of all types of sporting items are briefly provide as Individuals enterprise outside en masse,” Cramer mentioned.

American Eagle Outfitters

• Q1 2021 earnings launch: 4:15 p.m.; convention name: 4:30 p.m.
• Projected EPS: 46 cents
• Projected income: $1.02 billion

“I feel we might see comparable energy from American Eagle, because it’s at present the most well liked attire chain on earth,” he mentioned.

Williams-Sonoma

• Q1 2021 earnings launch: after market; convention name: 5 p.m.
• Projected EPS: $1.72
• Projected income: $1.5 billion

“I anticipate nice numbers, however it’s been tagged as a stay-at-home inventory of late, which is the kiss of dying on this post-pandemic market,” the host mentioned.

Nvidia

• Fiscal Q1 2022 earnings launch: after market; convention name: 5 p.m.
• Projected EPS: $3.28
• Projected income: $5.39 billion

“I feel the chipmaker has quite a bit going for it, however I nonetheless need to hear how assured they really feel about getting regulatory permission for the Arm Holdings acquisition,” he mentioned.

Snowflake

• Fiscal Q1 2022 earnings launch: after market; convention name: 5 p.m.
• Projected losses per share: 16 cents
• Projected income: $360 million

Okta

• Fiscal Q1 2022 earnings launch: after market; convention name: 5 p.m.
• Projected losses per share: 12 cents
• Projected income: $309 million

“They’re two of the fastest-growing corporations on earth,” Cramer mentioned. “I anticipate nice numbers from each, however you need to solely purchase them in the event you assume this market will change its angle towards high-flying progress names that do not commerce on earnings — they commerce on gross sales.”

Workday

• Fiscal Q1 2022 earnings launch: after market; convention name: 4:30 p.m.
• Projected EPS: 73 cents
• Projected income: $1.16 billion

“Workday ought to ship nonetheless another gorgeous quarter as they use cloud-software to automate back-office jobs in human sources and finance,” he mentioned.

Greatest Purchase

• Fiscal Q1 earnings launch: 7 a.m.; convention name: Eight a.m.
• Projected EPS: $1.36
• Projected income: $10.32 billion

Greenback Common

• Fiscal Q1 earnings launch: TBD; convention name: 10 a.m.
• Projected EPS: $2.13
• Projected income: $8.16 billion

Greenback Tree

• Q1 2021 earnings launch: TBD; convention name: 5 p.m.
• Projected EPS: $1.40
• Projected income: $6.Four billion

“I like all three and assume they’re good stimulus performs, however their shares have develop into awfully controversial and I do not actually look after controversy,” Cramer mentioned. “There are simpler methods to earn a living.”

Medtronic

• Fiscal This fall 2021 earnings launch: 6:45 a.m.; convention name: Eight a.m.
• Projected EPS: $1.42
• Projected income: $8.14 billion

“I wager they report a stellar quantity as a result of its medical gadgets are being put in in document numbers post-pandemic,” he mentioned. “There’s lots of pent-up demand from individuals who delayed surgical procedure till they may get vaccinated.”

Hole

• Q1 earnings launch: 4:15 p.m.; convention name: 5 p.m.
• Projected losses per share: 6 cents
• Projected income: $3.41 billion

“Hole could be very a lot again, one thing you possibly can inform in the event you go to their shops: crisp, clear and affordable costs,” the host mentioned.

Ulta Magnificence

• Q1 2021 earnings launch: after market; convention name: 4:30 p.m.
• Projected EPS: $1.95
• Projected income: $1.65 billion

“Ulta’s a giant winner as soon as everybody can take their masks off,” he mentioned.

Costco

• Fiscal Q3 2021 earnings launch: 4:15 p.m.; convention name: 5 p.m.
• Projected EPS: $2.31
• Projected income: $43.64 billion

“Costco tends to run up into the quarter after which dump instantly even when the numbers are nice. Would not matter what they print,” Cramer mentioned. “I really like Costco the shop, I really like Costco the inventory … however you do not need to purchase it till after you see the outcomes — let this one come to you.”

Salesforce

• Fiscal Q1 2022 earnings launch: after market; convention name: 5 p.m.
• Projected EPS: 88 cents
• Projected income: $5.89 billion

“Salesforce reported a barnburner final time and no person appeared to care, perhaps as a result of they nonetheless want to shut the Slack acquisition,” he mentioned.

Dell

• Q1 2022 earnings launch: 5:30 p.m.; convention name: 5:30 p.m.
• Projected EPS: $1.71
• Projected income: $23.80 billion

“You should buy it forward of time as a result of [CEO] Michael Dell’s going to inform a unbelievable story,” the host mentioned. “I wager they’re going to have a terrific quarter.”

Large Heaps

• Fiscal Q1 2021 earnings launch: TBD; convention name: Eight a.m.
• Projected EPS: $1.69
• Projected income: $1.54 billion

Hibbett Sports activities

• Q1 2022 earnings launch: after market; convention name: 5 p.m.
• Projected EPS: $2.56
• Projected income: $404 million

“I am betting each might be terrific,” Cramer mentioned.

Disclosure: Cramer’s charitable belief owns shares of Salesforce, Nvidia and Costco.

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