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Subsequent week units the tone for your complete profitable season

CNBC’s Jim Cramer looked ahead to the start of the reporting season on Friday, focusing on quarterly reports from major banks and other companies in the food and travel industries.

The Mad Money host’s outlook came after Wall Street stocks rallied sharply to rebound from Thursday’s big sell-off, which helped big averages end the week higher.

“What happens next week will shape the entire winning season,” said Cramer. “If we can get some good ones, we’ll be in party mode, but a negative series of numbers from the banks and some worrying Covid stats could make for a tough season to win.”

Sales and earnings per share forecasts are based on FactSet estimates:

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Tuesday: PepsiCo, JPMorgan Chase, Goldman Sachs win

PepsiCo

  • Publication of results for the fourth quarter of 2021: 6 a.m. Conference call: 8:15 a.m.
  • Projected earnings per share: $ 1.53
  • Expected sales: $ 17.97 billion

JPMorgan Chase

  • Earnings release for the 2nd quarter 2021: 7:00 a.m.; Conference call: 8:30 a.m.
  • Projected earnings per share: $ 3.16
  • Expected sales: $ 29.96 billion

“PepsiCo [will give] big numbers for us, but they also need to talk about how raw costs continue to rise, especially freight. JP Morgan should give us excellent numbers too, but they need to talk about trading and lending aren’t as strong as they should be, “Cramer said.

“I think both stocks are currently too high given these two negatives,” he continued. “I would refrain from buying them before the receipts unless we get a significant withdrawal on Monday.”

Goldman Sachs

  • Earnings release for the 2nd quarter of 2021: 7:30 a.m. Conference call: 9:30 a.m.
  • Projected earnings per share: $ 10
  • Expected sales: $ 12.13 billion

“If people are concerned about trading profits … they have to worry about Goldman as much of their business is trading profits, even if corporate financial revenues are very high,” he said.

Wednesday: Wells Fargo, Bank of America, Citigroup win

Wells Fargo

  • Earnings release for the 2nd quarter 2021: 8:00 a.m. Conference call: 11:30 a.m.
  • Forecast earnings per share: 95 cents
  • Expected sales: $ 17.77 billion

“Wells is a turning point, more than banking,” said Cramer. “If CEO Charlie Scharf tells us a good story about how the turnaround is going, then I think his stock can actually break away from the group, maybe even hit new highs for the year.”

Bank of America

  • Earnings release for the 2nd quarter 2021: 6:45 a.m. Conference call: 9 a.m.
  • Projected earnings per share: 77 cents
  • Expected sales: $ 21.86 billion

“If you think the economy is going to get stronger and interest rates are going to rise, and maybe even rise quickly, then you want to buy Bank of America stock right here now,” he said.

City group

  • Earnings release for the 2nd quarter 2021: 8:00 a.m. Conference call: 10 a.m.
  • Projected earnings per share: $ 1.99
  • Expected sales: $ 17.32 billion

“I’m not sure about the earnings quality of Citigroup, new CEO there, it’s a cheap stock, but I don’t want to stand behind it,” said the Mad Money presenter.

Delta Airlines

  • Earnings release for the 2nd quarter 2021: before market; Conference call: 10 a.m.
  • Projected earnings per share: $ 1.36
  • Expected revenue: $ 6.14 billion

“I want to know how much damage the Delta-Covid strain is doing to Delta,” Cramer said. “We also need to know whether business travelers are finally coming back.”

BlackRock

  • Earnings release for the 2nd quarter 2021: before market; Conference call: 8:30 a.m.
  • Projected earnings per share: $ 9.31
  • Expected sales: $ 4.6 billion

“I sincerely hope they tell us their position on outfits like Engine # 1,” he said.

Thursday: UnitedHealth Group, Alcoa results

UnitedHealth Group

  • Earnings release for the 2nd quarter 2021: before market; Conference call: 8:45 a.m.
  • Projected earnings per share: $ 4.43
  • Expected sales: $ 69.47 billion

“You can still buy it here,” said Cramer.

Alcoa

  • Earnings release for Q2 2021: After Market; Conference call: 5 p.m.
  • Projected earnings per share: $ 1.28
  • Expected sales: $ 2.64 billion

“You had a fantastic quarter last time around, but now it looks like a lot of the cyclical stocks have peaked,” he said. “This is especially important because aluminum goes into everything and rising costs have been a major stumbling block to gross margins for many aluminum buyers.”

Friday: First Horizon, Kansas City Southern

First horizon

  • Earnings release for the 2nd quarter 2021: 6:45 a.m. Conference call: 9:30 a.m.
  • Projected earnings per share: 39 cents
  • Expected revenue: $ 771 million

“I think it could be a whopper because its core market in Tennessee is brand new,” said Cramer.

Kansas City South

  • Earnings release for the 2nd quarter 2021: before market; Conference call: 8:45 a.m.
  • Projected earnings per share: $ 2.17
  • Expected sales: $ 750 million

“Expect them to comment on Biden’s newfound hostility towards the industry,” he said. “I think the White House is trying to block this deal. I wouldn’t be surprised if they somehow get their way.”

Disclosure: Cramer’s charitable trust owns Wells Fargo stock.

Disclaimer of liability

Questions for Cramer?
Call Cramer at 1-800-743-CNBC

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