CNBC’s Jim Cramer on Friday warned investors not to make trading decisions fresh off a company’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 should be disciplined with their portfolios.
“Every quarter I make the same argument about how you should wait and do more work before you pull the trigger, but a 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
The company’s stock could soar higher if the earnings report beats expectations, he said.
Cramer said he expects a “terrific” report from the bank.
The company will put up great numbers, since consumers are still spending on travel, he predicted.
Wednesday: J.B. Hunt Transport, Alcoa
Cramer said he’ll be watching for any sign that there’s a slowdown in commerce.
The metals “have become insane stock growers. … The aluminum company knows if the metals move is merely a squeeze or the real deal with actual demand,” he said.
Thursday: Procter & Gamble, Netflix
He said he expects the company to report a solid quarter as raw costs come down and foreign exchange headwinds abated.
“I think Netflix could be one of the strongest stories out there,” he said.
Friday: SLB
“SLB will tell us where the new finds are. They will play with an open hand. I bet you they give you a little update on Russia, too,” he said.
Disclaimer: Cramer’s Charitable Trust owns shares of Morgan Stanley and Procter & Gamble.
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