Subsequent week may very well be unpredictable

Wall Road took a breather on Friday after powering by way of 4 straight days of good points in every week that was outlined by an unsettled presidential election.

With returns pointing towards a possible Joe Biden victory, CNBC’s Jim Cramer expects a winner to be introduced by the beginning of the workweek.

After a comparatively sedate day the place the S&P 500 slipped simply over one level decrease to three,509.44, he mentioned traders “ought to do nothing” when the inventory market opens on Monday.

“It seems like as soon as once more we’re going to have divided authorities [next year], and with divided authorities, there’s not so much that the president can do,” the “Mad Cash” host mentioned.

The 30-stock Dow Jones common dipped nearly 67 factors, or 0.24%, to 28,323.40 in Friday’s session. The tech-heavy Nasdaq Composite was the one one of many three main indexes to increase its profitable streak, inching up a handful of factors to 11,895.23.

The key averages all climbed 7% or increased this week.

“Subsequent week may very well be unpredictable. My bias stays bullish,” he mentioned, “though we now have to maintain our eyes open as a result of that is nonetheless sort of a loopy market, and we [just] had among the best weeks I’ve seen in years.”

Cramer delivered his playbook for the week of earnings stories to return. All projections are primarily based on FactSet estimates:

McDonald’s

• Q3 earnings launch: earlier than market; convention name: 8:30 a.m.
• Projected EPS: $1.91
• Projected income: $5.40 billion

“I believe Mickey D’s is doing extremely effectively as a result of it is the simplest place to choose up meals within the age of Covid-19,” Cramer mentioned.

Plug Energy

• Q3 earnings launch: earlier than market; convention name: 10 a.m.
• Projected losses per share: 7 cents
• Projected income: $107 million

“My favourite method to play the approaching hydrogen gasoline cell revolution,” he mentioned.

Occidental Petroleum

• Q3 earnings launch: after market; convention name: 11 a.m.
• Projected losses per share: 72 cents
• Projected income: $4.22 billion

“I need you to hear … as a result of it will likely be an object lesson in why it’s essential keep away from the oil shares,” the host mentioned.

Worldwide Flavors & Fragrances

• Q3 earnings launch: after market; convention name: Tuesday, 10 a.m.
• Projected EPS: $1.46
• Projected income: $1.28 billion

“I’ve by no means seen the inventory this low cost,” he mentioned. “Perhaps it might get its mojo again this quarter when the DuPont deal closes.”

Simon Property Group

• Q3 earnings launch: after market; convention name: 5 p.m.
• Projected EPS: $2.29
• Projected income: $1.12 billion

“You have to hearken to this one due to all of the pandemic-driven retail layoffs and retailer closures,” Cramer mentioned.

Taubman Facilities

• Q3 earnings launch: after market
• Projected EPS: 52 cents
• Projected income: $120 million

Past Meat

• Q3 earnings launch: after market; convention name: 4:30 p.m.
• Projected EPS: 5 cents
• Projected income: $132 million

“Past Meat’s been lacking quarters as a result of they’ve pushed costs right down to make their faux-meat choices extra mainstream,” he mentioned. “That could be a terrific long-term technique, even when it hurts short-term.”

RingCentral

• Q3 earnings launch: after market; convention name: 5 p.m.
• Projected EPS: 24 cents
• Projected income: $287 million

“If it might rally after the quarter, then it should let you know an awesome deal about this market’s perspective towards progress shares,” he mentioned.

Novavax

• Q3 earnings launch: earlier than market; convention name: 4:30 p.m.
• Projected EPS: $1.73
• Projected income: $231 million

Inovio Prescribed drugs

• Q3 earnings launch: after market; convention name: 4:30 p.m.
• Projected losses per share: 19 cents
• Projected income: $three million

“They’re each engaged on one thing for Covid,” Cramer mentioned of the 2 corporations.

D.R. Horton

• This fall fiscal 2020 earnings launch: earlier than market; convention name: 8:30 a.m.
• Projected EPS: $1.76
• Projected income: $5.84 billion

Rocket Firms

• Q3 convention name: 4:30 p.m.
• Projected EPS: $1.09
• Projected income: $4.55 billion

“I wager they each have actually good quarters,” Cramer mentioned.

BioNtech

• Q3 earnings launch: earlier than market; convention name: Eight a.m.
• Projected losses per share: 42 cents
• Projected income: $63.1 million

“They appear to have the lead in the case of mass manufacturing,” he mentioned.

Corsair Gaming

• Q3 earnings launch: earlier than market; convention name: 8:30 a.m.
• Projected losses per share: 26 cents
• Projected income: $400 million

“This might be their first quarter out of the gate. They are usually good ones,” the host mentioned.

Air Merchandise and Chemical substances

• This fall earnings launch: earlier than market; convention name: 10 a.m.
• Projected EPS: $2.21
• Projected income: $2.26 billion

“Their high competitor, Linde, posted a stable quantity. I anticipate extra of the identical if even higher from Air Merchandise,” he mentioned.

Inexperienced Thumb Industries

• Q3 earnings launch: after market; convention name: 5 p.m.
• Projected EPS: 2 cents
• Projected income: $176 million

“The hashish cohort’s at the moment up on quite a lot of fluff,” he mentioned. “A lot has to occur earlier than issues really go their manner, however I wager Inexperienced Thumb provides you a thumbs up and a roadmap.”

Lemonade

• Q3 earnings launch: earlier than market; convention name: Eight a.m.
• Projected losses per share: 64 cents
• Projected income: $14.7 million

“I anticipate robust outcomes,” he mentioned.

GoodRx

• Q3 earnings launch: earlier than market; convention name: 8:30 a.m.
• Projected EPS: Eight cents
• Projected income: $135 million

“Anticipate good issues when it stories on Thursday,” Cramer mentioned.

Disney

• This fall fiscal 2020 earnings launch: after market; convention name: 4:30 p.m.
• Projected losses per share: 73 cents
• Projected income: $14.15 billion

“I do not know what Disney can say proper now that may be all that encouraging given the pandemic,” he mentioned.

Cisco

• Q1 fiscal 2021 earnings launch: after market; convention name: 4:30 p.m.
• Projected EPS: 70 cents
• Projected income: $11.85 billion

“Cisco’s been struggling of late, nevertheless it’s an inexpensive inventory, bountiful dividend,” the host mentioned.

Utilized Supplies

• This fall fiscal 2020 convention name: 4:30 p.m.
• Projected EPS: $1.17
• Projected income: $4.6 billion

“Utilized Supplies is a part of the red-hot semiconductor capital tools cohort,” he mentioned.

Draftkings

• Q3 earnings launch: earlier than market; convention name: 8:30 a.m.
• Projected losses per share: 62 cents
• Projected income: $132 million

Disclosure: Cramer’s charitable belief owns shares of Walt Disney.

Disclaimer