CNBC’s Jim Cramer advised investors on Friday to keep their eyes open for opportunities to improve their portfolios over the next week.
“These big macro numbers and important Fed meetings are a drag – I know. They obscure the real opportunities out there. I want you to keep your eyes open for ideas and not be blinded by it. [Federal Reserve] Light,” he said.
Shares closed lower on Friday due to investor concerns about a possible recession. Two major economic events occur next week, including the November Consumer Price Index report and the Federal Reserve’s December meeting.
Wall Street expects the Fed to hike interest rates by 50 basis points.
“We need to see a cooler consumer price index, in which the Fed only hikes interest rates by 50 basis points and then says it will take some time to assess the situation before tightening again,” Cramer said. “
He also previewed next week’s slate of earnings. All earnings and revenue estimates are courtesy of FactSet.
Monday: Coupa Software, Oracle
- Q3 2023 Earnings Released at 4:03 PM ET; Conference Call at 4:30 PM ET
- Estimated EPS: 17 cents
- Estimated Revenue: $252 million
Cramer predicted that the stock would collapse if the company did not prioritize profitability over growth.
- Q2 2023 Earnings to be Released at 4 PM ET; Conference Call at 5 PM ET
- Estimated EPS: $1.17
- Estimated Revenue: $11.95 billion
“At 16 times earnings, I don’t know how much to lose,” he said.
Tuesday: Eli Lilly
- 2023 Guidance Call at 9 AM ET
Cramer advised that investors who do not already own Eli Lilly shares should wait until after the call to buy.
Wednesday: lenar
- Q4 2022 Earnings to be Released at 4:30 PM ET; Conference Call Thursday at 11 AM ET
- Estimated EPS: $4.88
- Estimated revenue: $9.98 billion
He predicted the company would report a “terrible” quarter, which would be bad news for the Fed’s fight against inflation.
Thursday: adobe
- Q4 2022 Earnings to be Released at 4:05 PM ET; Conference Call at 5 PM ET
- Estimated EPS: $3.50
- Estimated revenue: $4.53 billion
Cramer said it was too early to buy shares of Adobe.
Friday: Darden Restaurant, Accenture
- Q2 2023 Earnings to be Released at 7 AM ET; Conference Call at 8:30 AM ET
- Estimated EPS: $1.43
- Estimated Revenue: $2.43 billion
He predicted the company would report a solid quarter.
- Q1 2023 Earnings to be released at 6:45 am ET; Conference Call at 8 AM ET
- Estimated EPS: $2.92
- Estimated Revenue: $15.58 billion
Cramer said, “If you think, as I do, that companies will cut back on digitization going forward in an effort to save money, you may want to avoid Accenture.”
Disclaimer: Cramer’s Charitable Trust owns shares of Eli Lilly.