Jim Cramer says the market could see ‘pleasant surprises’ going forward

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CNBC’s Jim Cramer on Monday mentioned that a lot of the sellers have already left the market, that means that the turbulence in shares might ease up.

“To me, this mad scramble to get out forward of the negativity is an indication that the dangerous information … is usually baked in,” he mentioned.

“All people’s scrambling to get out of this market forward of everyone else, however at this level, I feel many individuals who have been going to promote have already gone, which suggests we might get some nice surprises going ahead,” he added.

The key indices fell Monday forward of a jam-packed week of company earnings, 

The “Mad Money” host mentioned he has his eyes on the Shopper Value Index, Producer Value Index and retail gross sales numbers popping out this week.

“I feel these figures can be too scorching. … However I additionally anticipate some early indicators of cooling,” he mentioned.

“These information factors are what everybody’s afraid of. And when everybody’s petrified, it tends to be a non-story, with patrons coming in after the large dangerous occasion passes,” he added.

He additionally reviewed this week’s slate of earnings. All earnings and income estimates are courtesy of FactSet.

Tuesday: PepsiCo

  • Q2 2022 earnings launch at 6 a.m. ET; convention name at 8:15 a.m. ET
  • Projected EPS: $1.74
  • Projected income: $19.51 billion

Cramer mentioned he has religion the beverage large will inform a great story since enter prices together with corn and aluminum are coming down in worth.

Wednesday: Delta Air Lines

  • Q2 2022 earnings launch at 6;30 a.m. ET; convention name at 10 a.m. ET
  • Projected EPS: $1.66
  • Projected income: $12.25 billion

Shoppers aren’t carried out spending cash on journey, Cramer predicted.

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

JPMorgan Chase

  • Q2 2022 earnings launch at 7 a.m. ET; convention name at 8:30 a.m. ET
  • Projected EPS: $2.92
  • Projected income: $31.81 billion

Morgan Stanley

  • Q2 2022 earnings launch at 7:30 a.m. ET; convention name at 9:30 a.m. ET
  • Projected EPS: $1.57
  • Projected income: $13.44 billion

Cramer mentioned he likes JPMorgan Chase and Morgan Stanley forward of their quarters.

Conagra Brands

  • This fall 2022 earnings launch at 7:30 a.m. ET; convention name at 9:30 a.m. ET
  • Projected EPS: 63 cents
  • Projected income: $2.93 billion

“The worth proposition is fairly compelling right here, particularly due to working from dwelling,” he mentioned.

Cintas

  • This fall 2022 earnings launch earlier than the bell; convention name at 10 a.m. ET
  • Projected EPS: $2.68
  • Projected income: $2.01 billion

Cramer mentioned just lately, he is solely tuned into the corporate’s convention calls to test the tempo of job creation.

Friday: Wells Fargo, Citigroup, BlackRock, UnitedHealth

Wells Fargo

  • Q2 2022 earnings launch at 7 a.m. ET; convention name at 10 a.m. ET
  • Projected EPS: 83 cents
  • Projected income: $17.54 billion

On the inventory’s present worth, “there may be little to lose with Wells Fargo and much more to achieve,” he mentioned.

Citigroup

  • Q2 2022 earnings launch at 8 a.m. ET; convention name at 11 a.m. ET
  • Projected EPS: $1.67
  • Projected income: $18.34 billion

There are higher banks to personal than Citi, in response to Cramer.

BlackRock

  • Q2 2022 earnings launch earlier than the bell: convention name at 8:30 a.m. ET
  • Projected EPS: $8.07
  • Projected gross sales: $4.58 billion

Cramer mentioned he likes BlackRock at its present worth.

UnitedHealth

  • Q2 2022 earnings launch at 5:55 a.m. ET; convention name at 8:45 a.m. ET
  • Projected EPS: $5.21
  • Projected income: $79.68 billion

Whereas he expects United Healthcare to prove an awesome quarter, Cramer mentioned he prefers Humana for the Charitable Belief.

Disclosure: Cramer’s Charitable Belief owns shares of Humana, Morgan Stanley and Wells Fargo.



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