Cramer's 2 Earnings to Watch Thursday
Jim Cramer plans to monitor two companies' quarterly earnings Thursday, namely Safeway and JB Hunt Transport.
To start, Cramer will look for earnings from grocer Safeway. In Cramer's opinion, this food store’s stock is a “falling knife.”
“So many people have tried to call the bottom in this stock and all they have is thousands of shopping cart wheel ruts on their backs,” Cramer said. “I’m thinking that Safeway will one day be like the checkout line — ten points or less.”
When it comes to grocery store stocks, Cramer noted that he prefers Whole Foods Market right now.
After Thursday’s closing bell, Cramer will watch for earnings results from JB Hunt Transport Services.
“JB Hunt can move the transport index and the transport index can move the overall market by confirming any advance,” Cramer said, adding that unlike Federal Express or United Parcel Service, the U.S.-based trucker isn't as greatly impacted by economic slowdowns in Asia or Europe.
(Related: FedEx Lowers Global Growth Forecast, Cuts Costs.)
—Reuters contributed to this report
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