Seize any opportunity to sell stocks in busy earnings week

CNBC’s Jim Kramer advised investors Friday to seize any opportunity to sell stocks next week as the busy earnings season continues.

“The market is dominated by the mark, the mark, the bonds, oil and the dollar. So, remember, if we have a big day like yesterday, this is an opportunity to do some [selling] Because there probably won’t be any follow up.”

Kramer’s comments come after stocks fell on Friday to end a volatile week of trading, just a day after the market ended a six-day losing streak with a historic intraday reversal.

Also review the next week’s earnings list. All earnings and revenue estimates are provided by FactSet.

Monday: American bank

• Q3 2022 earnings announcement at 6:45 a.m. ET; Conference call at 8:30 a.m. ET
• Expected EPS: 78 cents
• Expected revenue: $23.54 billion

Cramer said he expects the bank to report a big figure, but it may not have an impact on stocks if bonds, oil or the dollar fall on the same day.

Tuesday: Goldman Sachs, Johnson & Johnson, Netflix

Goldman Sachs

• Q3 2022 earnings announcement at 7:30 a.m. ET; Conference call at 9:30 a.m. ET
• Expected EPS: $7.75
• Expected revenue: $11.42 billion

Cramer, who described the stock as “cheap,” said he’s looking for a steady profit from the company in its last quarter.

Johnson & Johnson

• release of Q3 2022 earnings between 6:25 and 6:40 a.m. ET; Conference call at 8:30 a.m. ET
• Expected EPS: $2.48
• Expected revenue: $23.36 billion

Cramer said the stock remains one of his favorites.

Netflix

• Announcing Q3 2022 earnings at 4 PM ET; Conference call at 6 p.m. ET
• Expected EPS: $2.14
• Expected revenue: $7.84 billion

He said he expects to hear more about the new ad-supported company category and is confident the company will roll it out without overdoing the number of commercials.

Wednesday: Procter & Gamble, Tesla, IBM, Lam Research

Procter & Gamble Company

• 2023 Q1 earnings release at 6:55 a.m. ET; Conference call at 8:30 a.m. ET
• Expected EPS: $1.55
• Expected revenue: $20.35 billion

Kramer expected the company’s stock to rise even if the quarter was bad because many short sellers are betting against it.

Tesla

• release of Q3 2022 earnings between 4:05 and 5 p.m. ET; Conference call at 5:30 p.m. ET
• Expected EPS: $1.01
• Expected revenue: $22.14 billion

He said buyers will likely support the company’s stock regardless of what the quarter looks like.

IBM

• Q3 2022 earnings release at 4:05 PM ET; Conference call at 5 p.m. ET
• Expected EPS: $1.79
• Expected revenue: $13.53 billion

Kramer said it was unclear whether the company would be able to publish results that would stir the market.

L research

• 2023 Q1 earnings release at 4:05 p.m. ET; Conference call at 5 p.m. ET
• Expected EPS: $9.58
• Expected revenue: $4.93 billion

“If Lam says they see reductions similar to what we heard from Applied Materials, AMAT, this week, the entire semiconductor world will see another downward movement.” He said.

Thursday: AT&T

• Announcing Q3 2022 earnings at 7 a.m. ET; Conference call at 8:30 a.m. ET
• Expected EPS: 61 cents
• Expected revenue: $29.84 billion

Cramer said that while he hopes AT&T’s quarter won’t be disappointing, he questions the company’s ability to succeed.

Friday: Verizon

• Q3 2022 earnings announcement at 7:30 a.m. ET; Conference call at 8:30 a.m. ET
• Expected EPS: $1.29
• Expected revenue: $33.78 billion

Cramer said Verizon’s stock performance indicates that the company is struggling due to competition from T-Mobile.

Disclaimer: Cramer’s Charitable Trust owns shares in Johnson & Johnson and Procter & Gamble.