With the first round of the French election occurring on Sunday — and the biggest week of earnings approaching — Jim Cramer smells panic in the air.
However, the "Mad Money" host urged investors to look past the frantic selling that happens out of fear that the election may end unfavorably. He recommended focusing on individual company reports that can help shed light on the true state of the global economy.
With that in mind, here are the stocks and events on Cramer's radar next week:
Monday: Kimberly-Clark, Hasbro
Kimberly-Clark: Cramer is thinking the same way about this consumer goods company's earnings announcement as he has about big earnings announcements since his days at Goldman Sachs: "You buy Kimberly-Clark when it gets hit."
"Hasbro's developed a very different model from Mattel's. It's more experiential, and it does a huge amount of business selling Disney toys, and given that we've got a new 'Star Wars' movie later this year [and] maybe a couple of 'Star Wars' movies down the line, I bet it's a winner, not a loser like Mattel," Cramer said.
Tuesday: McDonald's, Eli Lilly, Chipotle, and a whole lot more
"Memo to the companies that report in the following three days: will you stop it, please? Move your quarters. We can't focus on all of you," Cramer said before diving in to some of Tuesday's 30-plus earnings reports.
McDonald's: Some Wall Street hawks worry that the stock may sell off when McDonald's reports earnings, having run as much as it has.
"I say CEO Steve Easterbrook continues to deliver, but if you want to wait and see before you pull the trigger, I'm fine with that," Cramer said.
Chipotle: The fast-casual Mexican chain is approaching the 18-month mark at which health-risk concerns begin to taper out, which is good news for the company moving forward, Cramer said.
"However, the stock's already had a big run. I don't want you to chase. There are so many people who expect it to be a great quarter that we need to be sensitive to the idea that the improving news may actually cause a short term sell-off before the stock advances again," the "Mad Money" host advised.
Wednesday: United Technologies, PepsiCo, Twitter
United Technologies: The aircraft manufacturer is seeing an abundance of orders, so Cramer expects strong earnings numbers, but wonders if the company can report as good a quarter as competitor Honeywell did
"Don't forget, this is the year that United Technologies gets its breakthrough aircraft engine out of the teething phase and into the market in size. I think United Technologies is worth buying for that alone," Cramer said.
PepsiCo: The market has come to expect strong earnings reports from PepsiCo under CEO Indra Nooyi's leadership, and Cramer expects no less this quarter.
Still, he said, "there's always someone itching to sell this thing. Maybe then we wait to see, and buy."
Twitter: Cramer knows there is a hidden market out there for Twitter, particularly among those with accounts, so he is curious to see what kind of reaction a weak quarter might get.
"I say it's too risky, at least until we see those [earnings] numbers. Then we make a decision," the "Mad Money" host said.
Thursday: Southwest Airlines, Domino's, Alphabet, Starbucks
Southwest Airlines: This domestic airline play will report earnings before the bell, and Cramer says that having no overseas routes will be a boon to the stock.
"Call me a buyer both before and after what I think is going to be a terrific report," Cramer said, adding that he owns the name for his charitable trust, ActionAlertsPlus.com.
Domino's: Wall Street is buzzing with rumors that the pizza chain will miss estimates, but Cramer still wants a piece of the pie.
"You just pretty much have to own it because of its vastly superior technology," he said. "The short position is humongous into the quarter, so I expect a quick drop as the shorts try to make themselves look right when the number prints, and then it'll return to higher prices."
Alphabet: "Alphabet needs to show that it's gotten its arms around the YouTube ad problem, where companies don't want to be next to content that's porn or hate speech," Cramer said. "I think they'll show you that they've gotten a handle around this problem and therefore the stock can rally, and that's what we've been telling ActionAlertsPlus.com club members."
Starbucks: As this is new CEO Kevin Johnson's first quarter at the helm, Cramer says analysts' expectations for Starbucks' earnings, particularly those calling for 5 to 6 percent domestic comparable sales growth, are overblown, and the stock could get hit as a result.
"If Starbucks can do it, the stock goes from $60 to $70. Otherwise, it should fall back a couple bucks and we've got to wait for another quarter for it to fix its through-put issues," Cramer said.
Friday: Exxon Mobil, Chevron, General Motors
Exxon Mobil and Chevron: With oil prices expected to head back to $47 from Friday's $49.50, Cramer says both of these energy giants will be buys if they announce any good news on their earnings calls.
General Motors: The automaker seems to be a victim of its struggling sector, unable to hit the profit targets it should. Cramer sees the name briefly going higher before heading back down.
All in all, Cramer's bottom line is fairly straightforward, though in the throes of the election aftermath it may not seem so obvious.
"Hope for panic next week and take action when you get it with some of these great opportunities," Cramer said. "You should be able to get the best stocks at a discount because of France, even though you shouldn't, and I think you will."
Watch the full segment here: