Retail giants report profits, stay away from “toxic” stocks – Reuters

CNBC’s Jim Kramer said on Friday that he was relieved that stocks that had been beaten “had already suffered enough,” allowing investors to trade in a safer environment next week – although they still need to show evidence of caution.

“When we are beaten at these levels, we reach a point where stocks that would normally be broken have already received enough hits, and that is what allowed them to have at least the short rebound they could have today.” was “, – said the host of” Mad Money “.

“Many actions have finally reached the point where it is safe to be constructive if you stay away from the most toxic areas, so I will breathe a sigh of relief,” he added.

Shares rose on Friday to end a volatile trading week, the Dow Jones Industrial Average rose 1.47% and the S&P 500 rose 2.39%. The Nasdaq Composite Index rose 3.82%.

Kramer said he was watching the remarks of St. Louis Federal Reserve Chairman James Bullard about inflation next week.

“He’s a hawk like a hawk – he’s also my type of hawk. Bullard knows that it will be increasingly difficult to break the inflation cycle if the Fed does not act decisively right now, “Kramer said.

He also reviewed next week’s earnings list. All revenue and revenue estimates are provided by FactSet.

Monday: Weber, Warby Parker

Weber

  • Publication of results for the second quarter of 2022 to the bell; conference call at 8:30 a.m. Eastern Time
  • Estimated earnings per share: 18 cents
  • Estimated revenue: $ 659 million

Worby Parker

  • Publication of results for the first quarter of 2022 to the bell; conference call at 8 a.m. Eastern Time
  • Estimated earnings per share: $ 0
  • Estimated revenue: $ 154 million

Kramer said the profits of Weber and Warby Parker will reveal market sentiment about companies that have recently gone public.

Tuesday: Home Depot, Walmart

Home deposit

  • Earnings report for the first quarter of 2022 at 6:00 a.m. Eastern Time; conference call at 9 a.m. Eastern Time
  • Expected earnings per share: $ 3.69
  • Estimated revenue: $ 36.7 billion

walmart

  • Earnings report for the first quarter of 2023 at 7:00 am Eastern Time; conference call at 8 a.m. Eastern Time
  • Expected earnings per share: $ 1.48
  • Estimated revenue: $ 138.84 billion

Wednesday: Lowe’s, Target, Cisco

Lowe

  • Earnings report for the first quarter of 2022 at 6:00 a.m. Eastern Time; conference call at 9 a.m. Eastern Time
  • Expected earnings per share: $ 3.22. USA
  • Estimated revenue: $ 23.77 billion

Target

  • Publication of results for the first quarter of 2022 to the bell; conference call at 8 a.m. Eastern Time
  • Expected earnings per share: $ 3.07 USA
  • Estimated revenue: $ 24.46 billion

“[The market’s] so beaten that everyone could work here. I see these retail stocks as consumer barometers, ”Kramer said of Home Depot, Walmart, Lowe’s and Target.

Cisco

  • Earnings report for the third quarter of 2022 at 16:05 Eastern Time; conference call at 4:30 p.m. Eastern Time
  • Estimated earnings per share: 86 cents
  • Estimated revenue: $ 13.34 billion

For this to work, companies need to accelerate the transition from hardware to software, otherwise the inventory will be overcrowded, “said Kramer.

Thursday: Kohl’s, Palo Alto Networks

Cols

  • Earnings report for the first quarter of 2022 at 7:00 am Eastern Time; conference call at 9 a.m. Eastern Time
  • Estimated earnings per share: 71 cents
  • Estimated revenue: $ 3.68 billion

“I think it could be situation three or ten because stocks have fallen so far from their highs,” Kramer said. “I like these probabilities.”

Palo Alto Network

  • Publication of results for the third quarter of 2022 after closing; conference call at 4:30 p.m. Eastern Time
  • Expected earnings per share: $ 1.68
  • Estimated revenue: $ 1.36 billion

Kramer said he believes the company could be “the best story of the week”.

Friday: Deere

  • Publication of results for the second quarter of 2022 to the bell; conference call at 10:00 Eastern Time
  • Expected earnings per share: $ 6.69
  • Estimated revenue: $ 13.23 billion

Deere stocks tend to respond poorly to headlines and then return at the end of a conference call, Kramer said. “Patience is a virtue.”

Disclosure: Cramer’s Charitable Trust owns shares in Cisco and Walmart.

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