This week is all about Powell, but don’t overlook any great earnings reports

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Wall Street is collectively bracing for Federal Reserve Chairman Jerome Powell’s speech later this week, CNBC’s Jim Cramer said Monday after major US stock indices fell.

Powell’s address — set on Friday at 10 a.m. ET as part of the Fed’s annual Jackson Hole symposium — is by far the biggest event on the calendar, according to the “Mad Money” host. The reason is that investors are trying to gauge how aggressive the US central bank will be in the coming months, and the Fed chief’s comment is expected to offer clues on the matter.

While Friday’s speech is highly significant for the market, Cramer emphasized that he is not ignoring corporate earnings and the economic insights they provide. He said last week’s reports from the likes of Cisco Systems and Target were much better than feared, and he’s keeping an eye out for many more this week.

Here’s what Cramer is looking at, with all the revenue and revenue estimates compiled by FactSet:

Tuesday: Macy’s, Dick’s Sporting Goods, Toll Brothers and Intuit

Macy’s

  • Q2 gain before the bell; conference call scheduled for Tuesday 8:00 a.m. ET
  • Expected earnings per share: 86 cents
  • Expected Revenue: $5.49 Billion

Dick’s sporting goods

  • Q2 gain before opening; conference call scheduled at 10 a.m. ET Tuesday
  • Expected earnings per share: $3.59
  • Expected Revenue: $3.07 Billion

Toll Brothers

  • Q3 earnings release after close; conference call set for 8:30 am ET Wednesday
  • Expected Earnings Per Share: $2.30
  • Expected Revenue: $2.51 Billion

“I bet Macy’s has a good story to tell about the right clothes at the right time. Dick’s sells the best sporting goods at good prices, and Toll Brothers only makes houses where it can make huge profits. They’ve gotten a lot better at that too. area of ​​the supply chain, compared to when they last spoke,” Cramer said.

intuitive

  • Q4 earnings release after close; conference call at 4:30 p.m. ET Tuesday
  • Expected earnings per share: 98 cents
  • Expected Revenue $2.34 Billion

Cramer said he expects a “great quarter” from Intuit, driven by “good growth in tax returns and also all the things they’re doing for small businesses.”

Wednesday: Nvidia, Salesforce, Snowflake, Splunk and Box

Nvidia

  • Q2 gain after the bell; conference call scheduled for 5pm ET
  • Expected earnings per share: 50 cents
  • Expected Revenue: $6.7 Billion

Sales team

  • Q2 earnings after close; conference call set for 5pm ET
  • Expected earnings per share: $1.03
  • Expected Revenue: $7.69 Billion

“Nvidia announced it not long ago and missed it compared to an already lowered forecast. The same could happen again — tough time for these chips,” said Cramer, whose Charitable Trust owns both Nvidia and Salesforce shares. “I think Salesforce will complain about the strong dollar again, but remember that it does a lot of business at Dreamforce and that September conference is in person again.”

Snowflake

  • Q2 2023 earnings figures after closing; conference call set for 5pm ET
  • Expected earnings per share: 7 cents
  • Expected Revenue: $721 million

splunk

  • Q2 2023 profit after the bell; conference call scheduled for 4:30 p.m. ET
  • Expected earnings per share: loss of 36 cents
  • Expected Revenue: $749 Million

Box

  • Second quarter 2023 profit after closing; conference call set for 5pm ET
  • Expected earnings per share: 27 cents
  • Expected Revenue: $245 Million

“There are a lot of other software companies reporting what people are concerned about, such as Snowflake, Splunk and Box. I think they are doing well, but it may not matter because of this general slump” in the market, Cramer said.

Thursday: Dollar General, Dollar Tree, Ulta Beauty, Gap, Affirm, Dell and Workday

Dollar General

  • Q2 gain before opening; conference call set for 10 a.m. ET
  • Expected Earnings Per Share: $2.94
  • Expected Revenue: $9.4 Billion

money tree

  • Q2 gain before the bell; conference call scheduled for 9 a.m. ET
  • Expected earnings per share: $1.60
  • Expected Revenue: $6.79 Billion

Dollar General and Dollar Tree “should please the market to the fullest because investors have decided that we are heading into a recession and the hedge fund playbook says you should own one or both of these two stocks” in that situation, Cramer said. “I don’t like to mindlessly follow the script, but it’s not wrong here. I prefer Dollar General if they have the merchandise, by the way.”

Ulta Beauty

  • Q2 earnings release after close; conference call set for 4:30 p.m. ET
  • Expected Earnings Per Share: $4.95
  • Expected Revenue: $2.21 Billion

“Both Estee Lauder and Target, in which Ultas [in some stores], raved about how the chain is doing. I think we are now in a world of masks, which is great for skin care. Ulta will shine,” Cramer said.

Gap Inc.

  • Q2 gain after the bell; conference call scheduled for 5pm ET
  • Expected earnings per share: loss of 5 cents
  • Expected Revenue: $3.82 Billion

To confirm

  • Q4 profit after close; conference call set for 5pm ET
  • Expected earnings per share: loss of 62 cents
  • Expected Revenue: $355 million

Dell Technologies

  • Q2 2023 earnings figures after the bell; conference call scheduled for 5:30 PM ET
  • Expected Earnings Per Share: $1.79
  • Expected Revenue: $26.87 Billion

Gap, Affirm and Dell all fall into what Cramer called the category of “troublesome” reports for their own reasons.

“Gap could have another tougher quarter,” he said. “I’m not sure how good Affirm will be given how the market has turned against buy now, pay later. I think CEO Max Levchin will try to spin a good yarn, but it’s a really hard bond to pull that off.” Then there’s Dell I bet it will report a solid number that the technology will really help, something we’ll need very much by the time we get there [Thursday].”

Business day

  • Second quarter 2023 profit after closing; conference call set for 4:30 p.m. ET
  • Expected earnings per share: 79 cents
  • Expected Revenue: $1.52 Billion

“I think Workday had a good quarter, and maybe because it’s on the eve of Jackson Hole it’s going to be just as irrelevant as [Monday’s] sale,” Cramer said.

Friday: Powell Speech

“Wall Street is starting to lose faith in the idea that the Fed will soon take a more moderate stance. I think Jay Powell can afford to be a little less ruthless with the rate hikes here, but the market is clearly not up to it agree,” Cramer says. said. “We’ll find out on Friday who’s right – we’ll have to struggle all week to get to the Fed’s guillotine. But even if the guillotine falls, we can ride through the turbulence and buy some on the way down after this incredibly difficult two-day sale.”

Disclosure: Cramer’s Charitable Trust owns shares of NVDA, CRM and CSCO.

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The Valley Voice
The Valley Voicehttp://thevalleyvoice.org
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.

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