CNBC's Jim Cramer told investors on Friday that after a turbulent week of trading, he believes stocks will perform better going forward.
"You've got to adjust your mindset to a world where the bears are finally in retreat, because I'm betting the next four weeks will be much better than what we've come to be used to," he said.
Stocks rose on Friday but ended the week down after Wall Street digested a slew of corporate earnings, economic data reports and speeches from Federal Reserve officials. The major indexes are still up for the month.
Cramer attributed the market's resiliency to both exhausted sellers and animal spirits — the tendency for stocks to move based on investor sentiment. "They keep giving us a boost, as we're further along in the process of making a bottom," he said.
He also previewed next week's slate of earnings. All earnings and revenue estimates are courtesy of FactSet.
Monday: J.M. Smucker, Jacobs Solutions, Dell Technologies, Zoom
- Q2 2023 earnings release at 7 a.m. ET; pre-recorded conference call at 7 a.m. ET and conference call at 9 a.m. ET
- Projected EPS: $2.18
- Projected revenue: $2.17 billion
Cramer said that he expects the company to start the week off with a bang.
- Q4 2022 earnings release between 6:15 and 6:45 a.m. ET; conference call at 10 a.m. ET
- Projected EPS: $1.77
- Projected revenue: $3.79 billion
The company will give insight into where the federal spending from the Biden administration's infrastructure bill and the CHIPS Act might be headed, he predicted.
- Q3 2023 earnings release at 4:25 p.m. ET; conference call at 4:30 p.m. ET
- Projected EPS: $1.68
- Projected revenue: $24.67 billion
Cramer said he's betting the company is feeling the pain from the inventory glut in personal computers, but is curious as to where the company is in the cycle.
- Q3 2023 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ET
- Projected EPS: 88 cents
- Projected revenue: $1.19 billion
The company should either invest in growing or put itself up for sale, Cramer said.
Tuesday: Best Buy, American Eagle, Burlington, Dollar Tree, Dick's Sporting Goods
- Q3 2023 earnings release at 7 am. ET; conference call at 8 a.m. ET
- Projected EPS: $1.03
- Projected revenue: $10.31 billion
He said the stock has fallen enough that it has a decent risk-reward ratio, especially if it dips further on Monday.
- Q3 2022 earnings before the bell; conference call at 11 a.m. ET
- Projected EPS: 22 cents
- Projected revenue: $1.21 billion
The stock could finally be bottoming, Cramer predicted.
- Q3 2022 earnings release at 6:45 a.m. ET; conference call at 8:30 a.m. ET
- Projected EPS: 52 cents
- Projected revenue: $2.06 billion
He said he's interested in how the off-price retailer is doing, especially since Ross and TJX reported standout quarters recently.
- Q3 2022 earnings release at 7:30 a.m. ET; conference call at 9 a.m. ET
- Projected EPS: $1.18
- Projected revenue: $6.84 billion
Cramer pointed out that discount stores like Dollar Tree tend to do well during times of economic volatility.
- Q3 2022 earnings release at 7:30 a.m. ET; conference call at 10 a.m. ET
- Projected EPS: $2.27
- Projected revenue: $2.70 billion
He said he's expecting a great quarter from the company.
Wednesday: Deere
- Q4 2022 earnings release between 6:15 and 6:45 a.m. ET; conference call at 10 a.m. ET
- Projected EPS: $7.12
- Projected revenue: $13.45 billion
"I think the ag cycle's one of the most enduring themes of this year, and Deere's right at the center of it," he said.
Disclaimer: Cramer's Charitable Trust owns shares of TJX.
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