Don’t let the Fed’s meeting obscure investing opportunities

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.

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Jim Cramer's Investment Club Meeting Friday: Inflation Data, Salesforce, Microsoft Issues

CNBC Investment Club

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.

Cramer's game plan for the December 12 trading week

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