Business

The job report for June can be essential

CNBC’s Jim Cramer advised investors on Friday to keep their heads clear over the coming days as Wall Street stands ready to digest June’s job report in a week.

The report will be crucial given the ongoing debate over rising consumer prices in the US, he said.

“Next week will be all about Friday’s non-farm payroll report. Regardless of the actual number, the inflation hawks will come on TV, they will make a lot of noise about how the economy is doing.” [overheating]”And the Fed has to pick up immediately, said the moderator of” Mad Money “.

The comments come after major stock indices rebounded from notable declines a week ago this week.

The S&P 500 and Nasdaq Composite rose in Friday’s session and hit new record highs. The Dow Jones Industrial Average climbed to 1% of its own closing high in early May.

Cramer also pointed out the corporate earnings reports he’ll be looking out for in the coming week.

The forecasts for sales and earnings per share are based on FactSet estimates:

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Monday: Herman Miller win

Hermann Miller

  • Earnings Release for Fourth Quarter 2021: After Market; Conference call: Tuesday, 9:30 a.m.
  • Projected earnings per share: 39 cents
  • Expected revenue: $ 583 million

“I think Herman Miller feels like a pandemic game when we’re really looking for post-pandemic games. Call me a little nervous,” Cramer said.

Tuesday: AeroVironment Results

AeroVironment

  • Earnings Release for Fourth Quarter 2021: After Market; Conference call: 4:30 p.m.
  • Projected earnings per share: 81 cents
  • Expected revenue: $ 147 million

“Unmanned aerial vehicles are pretty cool, but what I’m interested in is unmanned ground vehicles,” said Cramer. “Right now we have a real shortage of truck drivers and by the way, AeroVironment looks like it has some answers.”

Wednesday: Constellation Brands, General Mills, Bed Bath & Beyond, Micron Income

Constellation marks

  • Earnings release for the first quarter of 2022: before market opening; Conference call: 11:30 a.m.
  • Projected earnings per share: $ 2.35
  • Expected sales: $ 2 billion

“I’m looking for a very large number that only Covid may be holding them back because they make these beers in Mexico and Mexico’s way is behind us in shutting down the pandemic,” the host said.

General mills

  • Earnings release for the fourth quarter of 2021: ahead of market; Conference call: 9 a.m.
  • Forecast earnings per share: 85 cents
  • Expected sales: $ 4.36 billion

“Many analysts fear that inflation will hit because of inflation,” said Cramer. “I’m actually looking for something else this morning. There is an area report from the federal government that could show an enormous increase in maize, which could shake the entire raw material complex.”

Bed bath in addition

  • Earnings release for the first quarter of 2021: before launch; Conference call: 8:15 a.m.
  • Projected earnings per share: 8 cents
  • Expected sales: $ 1.87 billion

“I think this company might just be a darn good retailer with real products that could make this thing a real survivor,” Cramer said. “Bed Bath & Beyond might be worth owning.”

Micron technology

  • Earnings release for the third quarter of 2021: After Market; Conference call: 4:30 p.m.
  • Projected earnings per share: $ 1.71
  • Expected sales: $ 7.2 billion

“The last time you reported, the stock peaked like the semiconductor cycle was over,” he said. “I think it’s ridiculous and Micron has more wiggle room, but … the decline has been torture and I bet shareholders will put up with any increase.”

Thursday: Walgreens Boots Alliance, McCormick Win

Walgreens Boots Alliance

  • Earnings Release for Fourth Quarter 2021: After Market; Conference call: 4:30 p.m.
  • Projected earnings per share: $ 1.15
  • Expected revenue: $ 33.49 billion

“I doubt anyone can change this downward trend [in the stock], except maybe, [CEO Roz] Brewer, “said Cramer.” I wish her the best, but Walgreens was a real wow-wow. “

McCormick

  • Earnings release for the 2nd quarter of 2021: 6:30 a.m. Conference call: 8 a.m.
  • Projected earnings per share: 62 cents
  • Expected sales: $ 1.46 billion

“We still cook today, but with restaurants reopening everywhere, people are running out … a lot of catching-up,” he said. “McCormick has made some tough comparisons with last year.”

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