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Wait before trading on company earnings

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CNBC’s Jim Cramer on Friday warned investors to not make trading decisions fresh off an organization’s earnings report.

Stocks made a comeback on Friday after falling initially on quarterly earnings reports and recession warnings from major banks. All three major indexes ended the week up, as investors digested a slate of earnings reports and economic data that suggested inflation is cooling. 

Cramer, who earlier this week offered investors a set of guidelines for earnings season, called Friday’s trading session an example of why investors ought to be disciplined with their portfolios.

“Every quarter I make the identical argument about how you need to wait and do more work before you pull the trigger, but a whole lot of people remain unconvinced,” he said.

He also went over next week’s slate of quarterly reports. All estimates for earnings, revenue and economic data are courtesy of FactSet.

Tuesday: Goldman Sachs, Morgan Stanley, United Airlines

Goldman Sachs

  • Q4 2022 earnings release at 7:30 a.m. ET; conference call at 9:30 a.m. ET
  • Projected EPS: $5.56
  • Projected revenue: $10.76 billion

The corporate’s stock could soar higher if the earnings report beats expectations, he said.

Morgan Stanley

  • Q4 2022 earnings release at 7:30 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: $1.29
  • Projected revenue: $12.54 billion

Cramer said he expects a “terrific” report from the bank.

United Airlines

  • Q4 2022 earnings release at 4:30 p.m. ET; conference call on Wednesday at 10:30 a.m. ET
  • Projected EPS: $2.11
  • Projected revenue: $12.23 billion

The corporate will put up great numbers, since consumers are still spending on travel, he predicted.

Wednesday: J.B. Hunt Transport, Alcoa

J.B. Hunt Transport

  • Q4 2022 earnings release before the bell; conference call at 9 a.m. ET
  • Projected EPS: $2.45
  • Projected revenue: $3.83 billion

Cramer said he’ll be waiting for any sign that there is a slowdown in commerce.

Alcoa

  • Q4 2022 earnings release at 4:10 p.m. ET; conference call at 5 p.m. ET
  • Projected loss: 69 cents per share
  • Projected revenue: $2.65 billion

The metals “have develop into insane stock growers. … The aluminum company knows if the metals move is merely a squeeze or the actual take care of actual demand,” he said.

Thursday: Procter & Gamble, Netflix

Procter & Gamble

  • Q2 2023 earnings release at 6:55 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: $1.58
  • Projected revenue: $20.70 billion

He said he expects the corporate to report a solid quarter as raw costs come down and foreign exchange headwinds abated.

Netflix

  • Q4 2022 earnings release at 4 p.m. ET; conference call at 6 p.m. ET
  • Projected EPS: 58 cents
  • Projected revenue: $7.84 billion

“I believe Netflix may very well be one in all the strongest stories on the market,” he said.

Friday: SLB

  • Q4 2022 earnings release at 7 a.m. ET; conference call at 9:30 a.m. ET
  • Projected EPS: 68 cents
  • Projected revenue: $7.78 billion

“SLB will tell us where the brand new finds are. They are going to play with an open hand. I bet you they provide you with just a little update on Russia, too,” he said.

Disclaimer: Cramer’s Charitable Trust owns shares of Morgan Stanley and Procter & Gamble.

Cramer's game plan for the trading week of Jan. 16

Jim Cramer’s Guide to Investing

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