Take any chance to sell stocks in busy earnings week

Cramers Next Week: As earnings season heats up, take every opportunity to sell stocks

CNBC’s Jim Cramer on Friday advised investors to seize any opportunity to sell shares next week as the busy earnings season continues.

“The market is dominated by tick, tick, tick of bonds, oil and the dollar. So remember, when we have a big day like yesterday, that’s a chance to do something [selling] because there probably won’t be a successor,” he said.

Cramer’s comments come after shares fell on Friday to end a volatile trading week, just a day after the market suffered a six-day losing streak with a historic intraday reversal.

He also previewed next week’s paytable. All earnings and revenue estimates were provided by FactSet.

Monday: Bank of America

  • Q3 2022 results release at 6:45 am ET; Conference call at 8:30 a.m. ET
  • Estimated earnings per share: 78 cents
  • Estimated Revenue: $23.54 billion

Cramer said he expects the bank to report a big number, but that if bonds, oil or the dollar get mixed up on the same day, it might not impact the stock.

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Tuesday: Goldman Sachs, Johnson & Johnson, Netflix

Goldman Sachs

  • Q3 2022 results release at 7:30am ET; Conference call at 9:30 a.m. ET
  • Estimated earnings per share: $7.75
  • Estimated Revenue: $11.42 billion

Cramer called the stock “crazy cheap” and said he expects solid bottom line from the company in its most recent quarter.

Johnson&Johnson

  • Q3 2022 results release between 6:25 and 6:40 am ET; Conference call at 8:30 a.m. ET
  • Estimated earnings per share: $2.48
  • Estimated Revenue: $23.36 billion

The stock remains one of his favorites, Cramer said.

Netflix

  • Q3 2022 results release at 4:00 p.m. ET; Conference call at 6:00 p.m. ET
  • Estimated earnings per share: $2.14
  • Estimated Revenue: $7.84 billion

He said he expects to hear more about the company’s new ad-supported tier and is confident the company will roll it out without overdoing it with the number of commercials.

Wednesday: Procter & Gamble, Tesla, IBM, Lam Research

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Procter & Gamble

  • Q1 2023 results release at 6:55am ET; Conference call at 8:30 a.m. ET
  • Estimated earnings per share: $1.55
  • Estimated revenue: $20.35 billion

The company’s stock will rise even in a bad quarter because so many short sellers are betting against it, Cramer predicted.

Tesla

  • Q3 2022 results to be released between 4:05 p.m. and 5:00 p.m. ET; Conference call at 5:30 p.m. ET
  • Estimated earnings per share: $1.01
  • Estimated Revenue: $22.14 billion

He said buyers are likely to support the company’s shares no matter what the quarter looks like.

IBM

  • Q3 2022 results release at 4:05 p.m. ET; Conference call at 5:00 p.m. ET
  • Estimated earnings per share: $1.79
  • Estimated Revenue: $13.53 billion

It’s unclear if the company will be able to report results that will excite the market, Cramer said.

Lam Research

  • Q1 2023 results release at 4:05 p.m. ET; Conference call at 5:00 p.m. ET
  • Estimated earnings per share: $9.58
  • Estimated Revenue: $4.93 billion
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“If Lam says they are seeing cuts similar to what we heard from Applied Materials, AMAT, this week, then the entire semiconductor world will see another decline.” he said.

Thursday: AT&T

  • Q3 2022 results release at 7:00 am ET; Conference call at 8:30 a.m. ET
  • Estimated earnings per share: 61 cents
  • Estimated Revenue: $29.84 billion

Cramer said while he hopes AT&T won’t have a disappointing quarter, he’s skeptical the company will pull through.

Friday: Verizon

  • Q3 2022 results release at 7:30am ET; Conference call at 8:30 a.m. ET
  • Estimated earnings per share: $1.29
  • Estimated Revenue: $33.78 billion

Verizon’s stock performance suggests the company is struggling due to competition from T-Mobile, Cramer said.

Disclaimer: Cramer’s Charitable Trust owns shares in Johnson & Johnson and Procter & Gamble.

Cramer's game plan for the trading week of October 17th

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