Be ready to ‘pounce’ when the market is oversold

CNBC’s Jim Cramer on Friday warned investors not to let their guard down when it comes to their portfolios and be prepared to take advantage of good opportunities.

“In the end, you’re going to feel sorry for yourself if you don’t buy anything in the big sell-off. When the market finally reaches the limit, though, that’s when it’s important to push,” Cramer said. .

Stocks gained on Friday but ended the week volatile, with losses from warmer-than-expected economic data, the Federal Reserve’s 75 basis point rate hike and hawkish rhetoric on inflation.

“We’re in an emotional time with a lot going on in terms of how individual companies operate and a lot going on and what Wall Street expects from them. What’s in the bottom? Until these expectations are reduced, you will not feel safe in anything,” he said.

Cramer said he is watching for next week’s consumer price index release, as well as a slated speech from Cleveland Fed President Loretta Mester that could shake up the market again.

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He also took a look at the next week’s schedule. All income and revenue estimates are from FactSet.

Monday: BioNTech, Take-Two Partnerships

BioNTech

  • Q3 2022 earnings release at 5 a.m. ET; conference call at 8 a.m. ET
  • Estimated EPS: $3.34
  • Revenue: $2.02 billion

Investors insisting on BioNTech should cross their fingers that the company reports that China has ordered “more than a billion” Covid-19 vaccines, he said.

Take-two relationships

  • Q2 2023 earnings at 4:05 pm ET; conference call at 4:30 pm ET
  • Estimated EPS: $1.37
  • Revenue: $1.55 billion

Cramer said it’s unfair that the industry is known as an epidemic game.

Tuesday: GlobalFoundries, Disney, AMC Entertainment

GlobalFoundries

  • Q3 2022 earnings release before bell; conference call at 8:30 am ET
  • Estimated EPS: 62 cents
  • Revenue: $2.05 billion
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He said he is interested in knowing whether the crackdown will improve before the economy takes a turn for the worse.

Disney

  • Q4 2022 earnings release at 4:05 pm ET; conference call at 4:30 pm ET
  • Estimated EPS: 55 cents
  • Revenue: $21.28 billion

The Charitable Trust is willing to buy shares of Disney if it goes down well, Cramer said.

AMC entertainment

  • Q3 2022 earnings release at 4:15 pm ET; conference call at 5pm ET
  • Estimated loss: 22 cents per share
  • Earnings: $961 million

He said that while AMC could turn a profit in its final quarter, he would not bet on it.

Wednesday: Wynn Resorts

  • Q3 2022 earnings release at 4 pm ET; conference call at 4:30 pm ET
  • Net loss: $1.14 per share
  • Earnings: $871 million

Cramer said his Charitable Trust is sticking with the stock.

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Thursday: Compass, Matterport, Toast

Compass

  • Q3 2022 earnings release after bell; conference call at 5pm ET
  • Net loss: 29 cents per share
  • Revenue: $1.45 billion

Matterport

  • Q3 2022 earnings release later; conference call at 4:30 pm ET
  • Net loss: 13 cents per share
  • Earnings: $36 million

“The era of transition made everyone and everything public, so they did,” Cramer said of Compass and Matterport.

Toast

  • Q3 2022 earnings release at 4:05 pm ET; conference call at 5pm ET
  • Estimated loss: 8 cents per share
  • Earnings: $720 million

Toast has a good product, but a good product doesn’t make it a good product, Cramer said.

Disclaimer: Cramer’s Charitable Trust owns shares of Disney and Wynn Resorts.

Cramer's game plan for the trading week of Nov.  7

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