CNBC’s Jim Cramer on Friday advised investors to keep their eyes peeled for opportunities to improve their portfolios next week.
“These big big numbers and important Fed meetings are a burden — I know. They obscure the actual opportunities that are out there. I want you to keep your eyes open for ideas and not roll your eyes.” [Federal Reserve] light,” he said.
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Stocks fell to end the week lower on Friday, dragged down by investor fears of a potential recession. Two major economic events will be held next week, including the release of the November Consumer Price Index report and the Federal Reserve meeting in December.
Wall Street expects the Fed to raise interest rates by 50 basis points.
“We need to see the CPI get cooler, the Fed only raises interest rates by 50 basis points, and then says it will take some time to assess the situation before it tightens again,” Kramer said.
He also reviewed next week’s earnings list. All earnings and revenue estimates provided by FactSet.
Monday: Coupa Software, Oracle
Copa software
- Earnings announced for the third quarter of 2023 at 4:03 PM ET; Conference call at 4:30 p.m. ET
- Projected earnings per share: 17 cents
- Expected revenue: $252 million
Cramer expected the stock to decline if the company did not prioritize profitability over growth.
inspiration
- Q2 2023 earnings release at 4 p.m. ET; Conference call at 5 p.m. ET
- Expected earnings per share: $1.17
- Projected revenue: $11.95 billion
“At 16 times earnings, I don’t see how much to lose,” he said.
Tuesday: Eli Lilly
- Advisory Call 2023 at 9 a.m. ET
Cramer advised investors who do not already own shares of Eli Lilly to wait until after the call.
Wednesday: Linar
- Q4 2022 Earnings Announcement at 4:30 PM ET; Conference call Thursday at 11 a.m. ET
- Expected earnings per share: $4.88
- Projected revenue: $9.98 billion
He predicted that the company would likely report an “outstanding” quarter, which would be bad news for the Fed’s fight against inflation.
Thursday: Adobe
- Q4 2022 earnings release at 4:05 PM ET; Conference call at 5 p.m. ET
- Expected earnings per share: $3.50
- Projected revenue: $4.53 billion
Cramer said it’s too early to buy Adobe stock.
Friday: Darden Restaurants, Accenture
Darden Restaurants
- Q2 2023 earnings announcement at 7 a.m. ET; Conference call at 8:30 a.m. ET
- Expected earnings per share: $1.43
- Projected revenue: $2.43 billion
He predicted that the company would likely report a strong quarter.
Accenture
- Earnings announced for the first quarter of 2023 at 6:45 a.m. ET; Conference call at 8 a.m. ET
- Expected earnings per share: $2.92
- Projected revenue: $15.58 billion
“If you think, as I do, that companies will cut back on digitization in the future in order to try to save money, you might want to avoid Accenture,” Kramer said.
Disclaimer: Shares of Eli Lilly are owned by Cramer’s Charitable Trust.
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