Cramer’s week ahead: Jam-packed earnings season continues, be ready for market bounce

CNBC’s Jim Cramer said Friday that he expects a rough start to next week on the heels of a dismal end to April in the stock market.

“I’m hoping that next week should be better. I’ve got to tell you, I don’t expect a good day Monday. When you have a really horrible day like today, sometimes you get a bounce. Right in, you get a bounce, and what you’ve got to do is you must sell that bounce,” the “Mad Money” host said.

The tech-heavy Nasdaq Composite plunged almost 4.2% on Friday while the S&P 500 fell 3.6%. The Dow Jones Industrial Average dropped close to 2.8%. The Nasdaq and S&P 500 finished at new lows for the year.

Cramer said that next week he’ll have his eye on U.S. employment reports.

“It’s possible the job numbers will have peaked because companies that hired extra workers so they’d be covered during the worst days of the pandemic have started to let them go,” he said.

He also previewed next week’s slate of earnings and gave his thoughts on each reporting company. All earnings and revenue estimates are courtesy of FactSet.

Monday: Clorox

Clorox 

• Q3 2022 earnings release at 4:15 p.m. ET; conference call at 4:15 p.m. ET
• Projected EPS: 93 cents
• Projected revenue: $1.79 billion

Cramer said the company needs to report decent numbers to send the “tattered” stock higher.

Tuesday: AMD, Airbnb, Starbucks

AMD

• Q1 2022 earnings release after the close; conference call at 5 p.m. ET
• Projected EPS: 91 cents
• Projected revenue: $5.01 billion 

“Given how far this semiconductor stock has fallen from its highs … even an in-line quarter could send it flying,” Cramer said.

Airbnb 

• Q1 2022 earnings release after the close; conference call at 5:30 p.m. ET
• Projected loss: loss of 25 cents per share
• Projected revenue: $1.45 billion

Cramer said he thinks Airbnb could tell “a great story.”

Starbucks

• Q2 2022 earnings release after the close; conference call at 5 p.m. ET
• Projected EPS: 60 cents
• Projected revenue: $7.62 billion

While the quarter likely already felt the effect of Covid lockdowns in China, union activity potentially hurt the company’s performance even more, Cramer said.

Wednesday: CVS Health, Moderna

CVS Health

• Q1 2022 earnings release before the open; conference call at 8 a.m. ET
• Projected EPS: $2.16
• Projected revenue: $75.54 billion

Cramer said he’s interested in hearing how the company will capitalize on Covid vaccines, saying he believes consumers have recently rediscovered the company’s stores.

Moderna

• Q1 2022 earnings release before the open; conference call at 8 a.m. ET
• Projected EPS: $5.37
• Projected revenue: $4.2 billion

“These guys have so much money from their Covid vaccine, but now they have to do something to broaden their portfolio. It can’t be a one-trick pony,” Cramer said.

Thursday: Zoetis, DoorDash

Zoetis

• Q1 2022 earnings release before the open; conference call at 8:30 a.m. ET
• Projected EPS: $1.23
• Projected revenue: $1.98 billion

Cramer said he’s confident the company will report great numbers.

DoorDash

• Q1 2022 earnings release after the close; earnings call at 5 p.m. ET
• Projected loss: loss of 21 cents per share
• Projected revenue: $1.38 billion

“If DoorDash doesn’t beat handily, it’s a ‘lookout below,'” Cramer said.

Friday: Under Armour

Under Armour 

• Q5 2022 (transition quarter) earnings release at 6:55 a.m. ET; conference call at 8:30 a.m. ET
• Projected EPS: n/a
• Projected revenue: n/a

Cramer said he plans to listen to the call but believes Lululemon is the reigning winner in the industry.

Disclosure: Cramer’s Charitable Trust owns shares of AMD.