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CNBC’s Jim Cramer on Friday prepared investors for next week on Wall Street, saying investors should pay attention as earnings season continues, with reports from companies including Shopify, Marriott and Wendy’s.
He also recommended researching retail stocks next week before the industry reports a slew of earnings results the week after.
“Next week seems busy, but, you know what, it’s a classic interregnum — Google that — before we get to retail earnings,” Cramer said. “Remember, those heavy earnings weeks are all in front of us, and they’re about doing your homework.”
On Monday, Cramer said he’ll be waiting for earnings reports from two “scorchers,” cloud networking outfit Arista Networks and Cadence Design Systems, which provides software for artificial intelligence hardware. Both companies hit all-time highs on Friday, and Cramer said that may mean they’re coming in too hot, but added that their stocks could go higher if the quarters are positive.
Shopify reports on Tuesday, and Cramer said he’s optimistic because online shopping seems to be booming. Also reporting on Tuesday is Marriott, which Cramer said has been a consistent winner because it’s grouped in with several travel stocks that have been performing well. He said he’s also optimistic about Tuesday reports from used car dealer AutoNation, animal health company Zoetis and airplane parts manufacturer Howmet.
Wednesday brings a report from Kraft Heinz, which Cramer said he wouldn’t touch because the stock has been obliterated, and packaged food companies are “out of style” on Wall Street. He also worried about the report from Cisco, with the company reportedly laying off thousands of employees, as he thought it would wait to do layoffs until it closed on its acquisition of Splunk.
Thursday, Cramer said he’ll be paying attention to Wendy’s report and said he’s not sure the results will be positive after the company’s change in management. He’ll also be watching a report from the Trade Desk, which he said consistently beats its numbers and rivals Google in placing online advertisements.
On Friday, Cramer said it’s worth waiting to see what happens with earnings from Treehouse, a company that makes food that supermarkets use as their store brands. The stock has been stalled, he added, even as Costco and Walmart are seeing success with their store brand products.
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