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Jim Cramer says the market could expect ‘pleasant surprises’ in the future

CNBC’s Jim Cramer said on Monday that most of the sellers have already left the market, which means that the turbulence in the stock market may ease.

“To me, this frantic struggle to get ahead of the negative is a sign that the bad news is… basically baked in,” he said.

“Everyone is trying their best to get out of this market before everyone else, but at the moment, I think a lot of the people who were going to sell have already left, which means that we may get some pleasant surprises in the future,” he added.

Major indices fell on Monday before a busy week of corporate reports.

The Mad Money host said he is keeping an eye on the consumer price index, producer price index and retail sales data due this week.

“I think these numbers will be too high… But I also expect the first signs of a cold snap,” he said.

“These data points are what everyone fears. And when everything is petrified, it is usually not a story, and buyers come after a big bad event passes, ”he added.

He also reviewed the earnings list this week. All earnings and earnings estimates are provided by FactSet.

Tuesday: PepsiCo

  • 2022 Q2 earnings report at 6:00 AM ET; Conference call at 8:15 am ET
  • Projected earnings per share: $1.74.
  • Projected revenue: $19.51 billion.

Cramer said he believes the beverage giant will tell a good story as raw material costs, including corn and aluminum, drop in price.

Wednesday: Delta Air Lines

  • 2022 Q2 Earnings at 6:30 AM ET; conference call at 10 am ET
  • Projected earnings per share: $1.66.
  • Projected revenue: $12.25 billion

Kraemer predicts that consumers will not stop spending money on travel.

Thursday: JPMorgan Chase, Morgan Stanley, Conagra Brands, Cintas

JPMorgan Chase

  • 2022 Q2 earnings report at 7 am ET; Conference call at 8:30 AM ET
  • Projected earnings per share: $2.92.
  • Projected revenue: $31.81 billion.

Morgan Stanley

  • 2022 Q2 Earnings at 7:30 AM ET; Conference call at 9:30 AM ET
  • Projected earnings per share: $1.57.
  • Projected revenue: $13.44 billion.

Kramer said he likes JPMorgan Chase and Morgan Stanley ahead of their quarters.

Conagra Brands

  • 2022 Q4 Earnings at 7:30 AM ET; Conference call at 9:30 AM ET
  • Projected earnings per share: 63 cents.
  • Projected revenue: $2.93 billion.

“The value proposition here is pretty compelling, especially with working from home,” he said.

Sintas

  • fourth quarter 2022 earnings report before the bell; conference call at 10 am ET
  • Projected earnings per share: $2.68.
  • Projected revenue: $2.01 billion.

Cramer said he recently joined the company’s conference calls just to check on the pace of job creation.

Friday: Wells Fargo, Citigroup, BlackRock, UnitedHealth

Wells Fargo

  • 2022 Q2 earnings report at 7 am ET; conference call at 10 am ET
  • Projected earnings per share: 83 cents.
  • Projected revenue: $17.54 billion

At the current stock price, “there is little to lose and much more to gain with Wells Fargo.” he said.

Citygroup

  • 2022 Q2 earnings report at 8:00 AM ET; conference call at 11:00 AM ET
  • Projected earnings per share: $1.67.
  • Projected revenue: $18.34 billion.

According to Kramer, there are better banks than Citi.

BlackRock

  • 2022 Q2 Earnings Before the Call: 8:30 AM ET Conference Call
  • Projected earnings per share: $8.07.
  • Projected sales: $4.58 billion.

Kramer said he likes the BlackRock at its current price.

UnitedHealth

  • 2022 Q2 Earnings at 5:55 AM ET; Conference call at 8:45 AM ET
  • Projected earnings per share: $5.21.
  • Projected revenue: $79.68 billion.

While he expects United Healthcare to put in a great quarter, Kramer said he prefers Humana for a charitable foundation.

Disclosure: Cramer’s Charitable Trust holds shares in Humana, Morgan Stanley and Wells Fargo.


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