Markets will do ‘much better’ during the next four weeks

Cramer on why he feels good about the market

CNBC’s Jim Cramer told investors on Friday that after a choppy week of trading, he believes stocks will do better going forward.

“You have to adjust your mindset to a world where the bears eventually retreat, because I bet the next four weeks will be a lot better than what we’ve gotten used to,” he said.

Stocks rose on Friday but ended the week lower after digesting a slew of corporate earnings, economic data reports and speeches from Federal Reserve officials. The major indices are still up for the month.

Cramer attributed the market’s resilience to both exhausted sellers and animal spirits — the tendency for stocks to move based on investor sentiment. “They keep giving us a boost because we’re further along in the process of making a bottom,” he said.

He also looked at next week’s list of earnings. All earnings and revenue estimates are courtesy of FactSet.

Monday: JM Smucker, Jacobs Solutions, Dell Technologies, Zoom

JM Smucker

  • Q2 2023 earnings release at 7 a.m. ET; pre-recorded conference call at 7:00 a.m. ET and conference call at 9:00 a.m. ET
  • Projected EPS: $2.18
  • Estimated revenue: $2.17 billion
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Cramer said he expects the company to start the week with a bang.

Jacobs Solutions

  • Q4 2022 earnings release between 6:15 and 6:45 am ET; conference call at 10 a.m. ET
  • Projected EPS: $1.77
  • Estimated revenue: $3.79 billion

The company will provide insight into where federal spending from the Biden administration’s infrastructure bill and the CHIPS Act could be headed, he predicted.

Dell Technologies

  • Q3 2023 earnings release at 4:25 PM ET; conference call at 4:30 PM ET
  • Projected EPS: $1.68
  • Estimated revenue: $24.67 billion

Cramer said he’s betting the company is feeling the pain of the inventory glut in personal computers, but is curious about where the company is in the cycle.

Zoom

  • Q3 2023 earnings release at 4:05 PM ET; conference call at 5:00 PM ET
  • Projected EPS: 88 cents
  • Estimated revenue: $1.19 billion
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The company must either invest in growth or put itself up for sale, Cramer said.

Tuesday: Best Buy, American Eagle, Burlington, Dollar Tree, Dick’s Sporting Goods

Best buy

  • Q3 2023 earnings release at 7am. ET; conference call at 8:00 a.m. ET
  • Projected EPS: $1.03
  • Estimated revenue: $10.31 billion

He said the stock has fallen enough that it has a decent risk-reward ratio, especially if it falls further on Monday.

American Eagle

  • Q3 2022 earnings ahead of the clock; conference call at 11 a.m. ET
  • Projected EPS: 22 cents
  • Estimated revenue: $1.21 billion

The stock could eventually bottom, Cramer predicted.

Burlington

  • Q3 2022 earnings release at 6:45 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: 52 cents
  • Estimated revenue: $2.06 billion

He said he’s interested in how the retailer is doing, especially since Ross and TJX recently reported outstanding quarters.

Dollar tree

  • Q3 2022 earnings release at 7:30 a.m. ET; conference call at 9 a.m. ET
  • Projected EPS: $1.18
  • Estimated revenue: $6.84 billion
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Cramer pointed out that discount stores like Dollar Tree tend to do well in times of economic volatility.

Dick’s Sporting Goods

  • Q3 2022 earnings release at 7:30 a.m. ET; conference call at 10 a.m. ET
  • Projected EPS: $2.27
  • Estimated revenue: $2.70 billion

He said he expects a good quarter from the company.

Wednesday: Deere

  • Q4 2022 earnings release between 6:15 and 6:45 am ET; conference call at 10 a.m. ET
  • Projected EPS: $7.12
  • Estimated revenue: $13.45 billion

“I think the ag cycle is one of the most enduring themes of this year, and Deere is right in the middle of it,” he said.

Disclaimer: Cramer’s Charitable Trust owns shares of TJX.

Cramer's game plan for the trading week of November 21

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