Cramer’s week ahead: Next week sets the tone for all of earnings season

CNBC’s Jim Cramer on Friday looked ahead to the start of earnings season, focusing on quarterly reports from the big banks and other companies in the packaged foods and travel industries.The “Mad Money” host’s lookahead came after stocks rallied hard on Wall Street to rebound from Thursday’s big sell-off, helping the major averages end the week higher.”What happens next week will color the entirety of earnings season,” Cramer said. “If we get some good ones, we’ll be in party mode, but a negative series of numbers from the banks and some upsetting Covid stats could make for a tough earnings season.”Revenue and earnings-per-share projections are based on FactSet estimates:Zoom In IconArrows pointing outwardsTuesday: PepsiCo, JPMorgan Chase, Goldman Sachs earningsPepsiCoQ4 2021 earnings release: 6 a.m.; conference call: 8:15 a.m.Projected EPS: $1.53Projected revenue: $17.97 billionJPMorgan ChaseQ2 2021 earnings release: 7 a.m.; conference call: 8:30 a.m.Projected EPS: $3.16Projected revenue: $29.96 billion”PepsiCo [will give] us great numbers, but they also have to talk about how raw costs keep going up, especially freight. JP Morgan should give us excellent numbers, too, but they’re going to have to talk about how trading and lending aren’t as strong as they should be,” Cramer said.”I think both stocks are too high at this moment, given those two negatives,” he continued. “I would hold off on buying them before earnings unless, of course, we get a meaningful pullback on Monday.”Goldman SachsQ2 2021 earnings release: 7:30 a.m.; conference call: 9:30 a.m.Projected EPS: $10Projected revenue: $12.13 billion”If people are worried about trading profits … they’re going to have to be extra worried about Goldman, because so much of their business is trading profits, even as corporate financial revenues should be very strong,” he said.Wednesday: Wells Fargo, Bank of America, Citigroup earningsWells FargoQ2 2021 earnings release: 8 a.m.; conference call: 11:30 a.m.Projected EPS: 95 centsProjected revenue: $17.77 billion”Wells is a turnaround story, more than it is a banking story,” Cramer said. “If CEO Charlie Scharf tells us a good tale about how the turn is going, then I think his stock can actually break away from the group, maybe even make new highs for the year.”Bank of AmericaQ2 2021 earnings release: 6:45 a.m.; conference call: 9 a.m.Projected EPS: 77 centsProjected revenue: $21.86 billion”If you believe the economy’s gonna get stronger and interest rates will rise, and maybe rapidly rise, then you want to buy the stock of Bank of America right here, right now,” he said.CitigroupQ2 2021 earnings release: 8 a.m.; conference call: 10 a.m.Projected EPS: $1.99Projected revenue: $17.32 billion”I’m not sure about Citigroup’s earnings quality, new CEO there, it’s an inexpensive stock, but I don’t want to get behind it,” the “Mad Money” host said.Delta Air LinesQ2 2021 earnings release: before market; conference call: 10 a.m.Projected EPS: $1.36Projected 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 if business travelers are finally coming back.”BlackRockQ2 2021 earnings release: before market; conference call: 8:30 a.m.Projected EPS: $9.31Projected revenue: $4.6 billion”I’m sincerely hoping they tell us their position on outfits like Engine No. 1,” he said.Thursday: UnitedHealth Group, Alcoa earningsUnitedHealth GroupQ2 2021 earnings release: before market; conference call: 8:45 a.m.Projected EPS: $4.43Projected revenue: $69.47 billion”It is still buyable, here,” Cramer said.AlcoaQ2 2021 earnings release: after market; conference call: 5 p.m.Projected EPS: $1.28Projected revenue: $2.64 billion”They gave us a fantastic quarter last time, but now it looks like many of the cyclicals have peaked,” he said. “This one’s especially important because aluminum goes into everything and the rising cost has been a major stumbling block for gross margins for a lot of the buyers of aluminum.”Friday: First Horizon, Kansas City SouthernFirst HorizonQ2 2021 earnings release: 6:45 a.m.; conference call: 9:30 a.m.Projected EPS: 39 centsProjected revenue: $771 million”I think it could be a whopper because its core Tennessee market is red-hot,” Cramer said.Kansas City SouthernQ2 2021 earnings release: before market; conference call: 8:45 a.m.Projected EPS: $2.17Projected revenue: $750 million”Expect them to comment maybe on Biden’s newfound hostility to 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 shares of Wells Fargo.DisclaimerQuestions for Cramer?Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up!Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? madcap@cnbc.com


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