CNBC's Jim Cramer gave a preview of the week ahead in earnings reports. Later in the show, the "Mad Money" host explained the return of corporate visibility and what it says about this market.

Wall Street gets an update on the coronavirus epidemic in China each night, and while the numbers are not always dependable, stocks are reacting to the information, CNBC's Jim Cramer said Friday.

The ongoing global health concern led to a mixed day of trading in the market, he said. The fell about 25 points, while the and both rose about 0.20%. The major averages, however, all posted weekly gains.

"Until the outbreak burns itself out, the corona statistics, and not earnings, will continue to control the day-to-day action," the "Mad Money" host said.

Cramer went on to reveal what he has circled on his calendar for the coming shortened week of earnings reports after the Presidents' Day holiday Monday.

Big fund investors are willing to pay up for a stock, as long as the underlying company can back it up with visibility, Cramer said after another week full of earnings reports.

Visibility is Wall Street lingo referring to a corporation's projection of future performance.

"Listen for that word: visibility. If the company has it, I bet it's a stock worth buying," the host said, emphasizing it "allows the analysts to model the future with more accuracy."

In Cramer's lightning round, the "Mad Money" host ran through his thoughts about callers' favorite stock picks of the day.

: "Well, he was wrong and that's interesting. That guy don't go breaking my heart with that stock. ... Don't go breaking my heart with BlackBerry."

: "I think KeyBank is a nice, simple story."