Business

Odd time for the markets, but profit counts again

CNBC’s Jim Kramer on Friday laid out his plan of action for the next week after Wall Street concluded its first five trading sessions in 2022.

The Mad Money host said it was “a bit of a strange time” for the markets, “like a lot of stocks need to take medicine and then get back on track.”

“This week we saw unprofitable technicians take blows that then spread to more mature and profitable ones,” Kramer said. However, he added, “It’s much easier to buy shares in a reputable company that really makes money. Yes, profit counts again, measurable GAAP profit. “

Here’s what Kramer is seeing next week. All revenue and revenue estimates are from FactSet.

Monday: JPMorgan Health Care Conference and Tilray Profits

JPMorgan Healthcare Conference

The JPMorgan Health Care Conference, which turns 40, is a hugely influential event, Kramer said, explaining that company presentations are known to affect stocks. The virtual conference starts on Monday and runs through Thursday.

Tilray

  • Profit for the second quarter of 2022 before the call; Conference call 8:30 AM ET Monday
  • Projected loss: A loss of 7 cents per share.
  • Projected income: $ 200 million.

Tuesday: Albertsons Earnings and Dell Technologies Investor Meeting

Wednesday: income from KB Home

Thursday: Delta Air Lines Profits

Friday: Profits from Wells Fargo, JPMorgan, BlackRock and Citigroup

Wells Fargo

  • Profit for the 4th quarter of 2021 before the call; Conference call at 10am ET Friday
  • Projected earnings per share: $ 1.10.
  • Projected Revenue: $ 18.67 billion

Kramer, whose charitable foundation holds a significant stake in Wells Fargo, said he believes the bank will have a strong 2022. However, he admitted that the stock did not start as well as it does now, at around 14% YTD. He said it was not clear if the pace could continue, but future pullbacks could provide buying opportunities.

JPMorgan

  • Profit for Q4 2021 before opening; Conference Call 8:30 AM ET Friday
  • Projected earnings per share: $ 3.
  • Projected Revenue: $ 29.85 billion

CEO Jamie Dimon “tends to be very upbeat, but also mixes a few Molotov bottles with his otherwise easy-to-digest economic cocktails,” Kramer said.

Black rock

  • Profit for the 4th quarter of 2021 before the call; Conference Call 8:30 AM ET Friday
  • Projected earnings per share: $ 10.10.
  • Projected revenue: $ 5.12 billion.

Kramer said he expects a strong quarter, adding that he looks forward to hearing about the company, market and economy from BlackRock CEO Larry Fink.

Citigroup

  • Profit for Q4 2021 before opening; 11:00 am ET conference call on Friday
  • Projected earnings per share: $ 1.55.
  • Projected Revenue: $ 16.92 billion

Kramer said he is watching to see if CEO Jane Fraser can offer enough optimistic commentary to push Citigroup’s stock higher, allowing it to catch up with some of its competitors. In addition, he said he was looking for more information on Citi. suspending its share buyback program in December.

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Disclosure: The Kramer Charitable Foundation holds shares in Wells Fargo and Disney.


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