October 23, 2021

Market and Financial News

Market and Financial News Aggregator

The most important week of earnings season

4 min read

CNBC’s Jim Cramer said Friday that Wall Street will be overwhelmed next week with a full slate of earnings reports from some of the most recognizable names in business.

After the major averages all finished the session at all-time highs, shaking off concerns about economic growth, the “Mad Money” host said it leaves practically no room for error.

“This is the toughest week of the quarter when it comes to making informed financial decisions,” he said. “There aren’t enough hours in the day to read all the conference calls … so do your best to focus on a few.”

Revenue and earnings-per-share projections are based on FactSet estimates:

Monday: Tesla earnings

Tuesday: Apple, Alphabet, Microsoft, Advanced Micro Devices earnings

Wednesday: Boeing, Bristol-Myers, McDonald’s, Facebook, Ford, Mastercard earnings

Boeing

  • Q2 2021 earnings release: before market; conference call: 10:30 a.m.
  • Projected losses per share: 81 cents
  • Projected revenue: $16.72 billion

“I can see Boeing giving you a terrible number … and then telling you they may even have to raise more money,” Cramer said. “Those punches might be worth enduring, because air travel’s already coming back and once we triumph over these new Covid variants, I expect the airlines to place very big orders.”

Bristol-Myers Squibbs

  • Q2 2021 earnings release: before market; conference call: 8 a.m.
  • Projected EPS: $1.89
  • Projected revenue: $11.27 billion

“I expect them … to be weak again,” the host said.

McDonald’s

  • Q2 2021 earnings release: 7 a.m.; conference call: 8:30 a.m.
  • Projected EPS: $2.11
  • Projected revenue: $5.58 billion

“I think people are coming back to the stores, so McDonald’s will guide up numbers and people will buy the stock,” the host said.

Facebook

  • Q2 2021 earnings release: after market; conference call: 5 p.m.
  • Projected EPS: $3.04
  • Projected revenue: $27.84 billion

“I don’t expect a coronation, but let’s just say it’ll be tough for Facebook to have a bad quarter—online advertising is too strong,” Cramer said.

Ford

  • Q2 2021 earnings release: 4:05 p.m.; conference call: 5 p.m.
  • Projected losses per share: 3 cents
  • Projected revenue: $22.83 billion

“I think numbers have to go up here because the cars and trucks are simply better than they used to be and the markets they operate in are more profitable,” he said. “I don’t expect this quarter to be good … I’m saying that 2022 could be good.”

Mastercard

  • Q2 2021 earnings release: before market; conference call: 9 a.m.
  • Projected EPS: $1.74
  • Projected revenue: $4.37 billion

“That [American] Express quarter was fantastic. I think Mastercard is going to tell us a good story, too,” he said.

Thursday: Amazon, Twilio earnings

Friday: Exxon Mobil, Chevron, Caterpillar earnings





2021-07-23 18:56:09

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