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And with so many concerned over how currency and repatriation will impact earnings, investors will get a read on that when Coca-Cola comes out with its numbers. Cramer thinks the sudden strength of the dollar should shave some pennies off of the stock’s performance. He said that if KO suffers after that, investors should expect a rough ride ahead for the remaining global firms that will report. Historically, he said Coca-Cola has managed to hedge its big commodity cost exposure, but with the recent surge in corn prices — and corn being a key ingredient of corn syrup — we should get a better sense of how bad things may be for food and beverage companies expecting to report in the coming weeks.
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Intel’s after-the-bell report should also tell us more about the sudden drop-off in demand some are seeing in the IT space. Cramer predicts a tough quarter but wonders if the stock gets hit given its recent decline, its “terrific” 3.5 percent yield and its longer-term prospects for new products in the pipeline. “If Intel doesn’t drop on a less than stellar quarter,” he said, “that’s the clarion call to buy — not sell — tech,” he said.
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