On Friday, CNBC’s Jim Cramer advised investors to keep their eyes peeled for the chances of improving their portfolios next week.
“These big macro numbers and important Fed meetings are a drag – I know that. They mask the real opportunities. I want you to keep your eyes open for ideas and not be blinded by the [Federal Reserve] light,” he says.
investment related news
Shares fell to end the week lower on Friday, rattled by investor worries about a possible recession. Two key economic events will take place next week, including the release of the November Consumer Price Index report and the December meeting of the Federal Reserve.
Wall Street expects the Fed to raise interest rates by 50 basis points.
“We need a cooler consumer price index, with the Fed only raising interest rates 50 basis points and then saying it will take some time to assess the situation before tightening. again,” Cramer said.
He also previewed next week’s earnings list. All earnings and income estimates are courtesy of FactSet.
Monday: Coupa Software, Oracle
Coupa Software
- Third Quarter 2023 Earnings Release at 4:03 p.m. ET; conference call at 4:30 p.m. ET
- Projected EPS: 17 cents
- Forecast revenue: $252 million
Cramer predicted the stock would fall if the company did not prioritize profitability over growth.
Oracle
- Publication of Q2 2023 results at 4 p.m. ET; conference call at 5 p.m. ET
- Projected EPS: $1.17
- Projected revenue: $11.95 billion
“At 16 times the winnings, I just don’t see how much there is to lose,” he said.
Tuesday: Eli Lily
- 2023 Orientation Call at 9 a.m. ET
Investors who don’t already own shares of Eli Lilly should wait to buy after the call, Cramer advised.
Wednesday: Lennar
- Fourth Quarter 2022 Earnings Release at 4:30 p.m. ET; conference call on Thursdays at 11 a.m. ET
- Projected EPS: $4.88
- Forecast revenue: $9.98 billion
He predicted the company would likely report a “great” quarter, which would be bad news for the Fed’s battle against inflation.
Thursday: Adobe
- Fourth Quarter 2022 Earnings Release at 4:05 p.m. ET; conference call at 5 p.m. ET
- Projected EPS: $3.50
- Projected revenue: $4.53 billion
Cramer said it was too early to buy Adobe stock.
Friday: Darden Restaurants, Accenture
Dard Restaurants
- Second Quarter 2023 Earnings Release at 7:00 a.m. ET; conference call at 8:30 a.m. ET
- Projected EPS: $1.43
- Projected revenue: $2.43 billion
The company will likely report a strong quarter, he predicted.
Accenture
- First Quarter 2023 Earnings Release at 6:45 a.m. ET; conference call at 8 a.m. ET
- Projected EPS: $2.92
- Projected revenue: $15.58 billion
“If you believe, like me, that companies will reduce digitization in the future in order to try to save money, you might want to avoid Accenture,” Cramer said.
Disclaimer: Cramer’s Charitable Trust owns shares of Eli Lilly.
