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Next week sets the tone for the entire earnings season



CNBC’s Jim Cramer on Friday looked forward to the start of the earnings season, focusing on quarterly reports from the major banks and other companies in the packaged food and travel industry.

The “Mad Money” host lookahead came after stocks rallied hard on Wall Street to come back from Thursday’s big sale, helping the big averages end the week higher.

“What happens next week will color the entire earnings season,” Cramer said. “If we get some good ones, we will be in party mode, but a negative series of numbers from the banks and some disturbing Covid statistics could provide a tough earnings season.”

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Revenue and projection per. Stocks are based on FactSet estimates:

Tuesday: PepsiCo, JPMorgan Chase, Goldman Sachs earnings

PepsiCo

  • 4th quarter release of earnings in 2021: at. conference call: 8:15 p.m.
  • Expected EPS: $ 1.53
  • Expected revenue: $ 17.97 billion

JPMorgan Chase

  • Q2 2021 release of earnings: at. conference call: 8:30 p.m.
  • Expected EPS: $ 3.16
  • Expected revenue: DKK 29.96 billion $

“PepsiCo [will give] us big numbers, but they also have to talk about how raw costs continue to rise, especially freight. “JP Morgan should also give us excellent figures, but they will have to talk about how trade and lending are not as strong as they should be,” Cramer said.

“I think both stocks are too high at the moment given these two negatives,” he continued. “I would stick to buying them before earning unless, of course, we get a meaningful retirement on Monday.”

Goldman Sachs

  • Q2 2021 release of earnings: 07:30; conference call: 9:30 p.m.
  • Projected EPS: $ 10
  • Expected turnover: DKK 12.13 billion $

“If people are worried about trading profits … they will have to be extra worried about Goldman because so much of their business is trading with profits, even though corporate financial income should be very strong,” he said.

Wednesday: Wells Fargo, Bank of America, Citigroup earnings

Wells Fargo

  • Q2 2021 release of earnings: at. conference call: 11:30
  • Expected EPS: 95 cents
  • Expected revenue: $ 17.77 billion

“Wells is a turning point in history, more than it’s a banking history,” Cramer said. “If CEO Charlie Scharf tells us a good story about how the trip is going, then I think his stock can actually break away from the group, maybe even set new heights for the year.”

Bank of america

  • Q2 2021 earnings release: 6:45 am; conference call: 9 am
  • Expected EPS: 77 cents
  • Expected revenue: $ 21.86 billion

“If you think the economy is getting stronger and interest rates are rising and maybe rising fast, then you want to buy the stock in Bank of America right here, right now,” he said.

Citigroup

  • Q2 2021 release of earnings: at. conference call: kl
  • Expected EPS: $ 1.99
  • Expected revenue: $ 17.32 billion

“I’m not sure about Citigroup’s earnings quality, new CEO there, it’s a cheap stock, but I do not want to fall behind,” said the “Mad Money” host.

Delta Air Lines

  • Q2 2021 release of earnings: before market; conference call: kl
  • Expected EPS: $ 1.36
  • Expected revenue: DKK 6.14 billion $

“I want to know how much damage the Delta Covid strain is doing to Delta,” Cramer said. “We also need to know if business travelers are finally coming back.”

Black stone

  • Q2 2021 release of earnings: before market; conference call: 8:30 p.m.
  • Expected EPS: $ 9.31
  • Expected revenue: $ 4.6 billion

“I sincerely hope they tell us their position on equipment like engine # 1,” he said.

Thursday: UnitedHealth Group, Alcoa earnings

UnitedHealth Group

  • Q2 2021 release of earnings: before market; conference call: 8:45
  • Expected EPS: $ 4.43
  • Expected revenue: $ 69.47 billion

“It can still be purchased here,” Cramer said.

Alcoa

  • Q2 2021 release of earnings: by market; conference call: 5 p.m.
  • Expected EPS: $ 1.28
  • Expected revenue: $ 2.64 billion

“They gave us a great quarter last time, but now it looks like a lot of the cyclists have peaked,” he said. “This is especially important because aluminum goes into everything, and rising costs have been a major stumbling block to gross margins for many aluminum buyers.”

Friday: First Horizon, Kansas City Southern

First horizon

  • Q2 2021 earnings release: 6:45 am; conference call: 9:30 p.m.
  • Expected EPS: 39 cents
  • Expected revenue: $ 771 million

“I think it can be a big one because its core market in Tennessee is red-hot,” Cramer said.

Kansas City Southern

  • Q2 2021 release of earnings: before market; conference call: 8:45
  • Expected EPS: $ 2.17
  • Expected revenue: $ 750 million

“Expect them to comment perhaps on Biden’s newfound hostility to the industry,” he said. “I think the White House is trying to block this deal. I would not be surprised if they somehow get their way.”

Disclosure: Cramer’s charitable trust owns shares in Wells Fargo.

Disclaimer

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