October 3, 2022

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Selling shares of unprofitable companies

Selling shares of unprofitable companies

CNBC Jim Cramer Friday reviewed next week’s earnings schedule and said investors should use it as an opportunity to offload unprofitable companies from their portfolios.

The “mad moneyThe host said the market might be in some pain next week after This week’s ralliesInvestors digested news related to a quarter-percentage point rate hike from the Federal Reserve, the ongoing Russia-Ukrainian war and the COVID-19 outbreak in Asia and Europe.

Cramer said that while investors shouldn’t sell everything, next week could be a golden opportunity for investors to switch their holdings.

“If you still own shares of unprofitable companies that don’t even have any good cash flow and are selling at high price multiples of sales, I beg you to take this opportunity, start today, to do some selling and reassigning yourself to more tangible companies with cheap stock “.

All profit and revenue estimates are provided by FactSet.

Monday: Nike

nike

  • Q3 2022 earnings announcement at 4:15 p.m.; Conference call at 5 p.m. ET
  • Expected earnings per share: 71 cents
  • Expected revenue: $10.6 billion

“I don’t expect Nike to actually have good numbers, but that’s the conventional wisdom now, which leaves open the possibility of an upward surprise,” Cramer said.

Tuesday: Nvidia, Adobe

nvidia

  • Investor Day at 1pm ET

“[Chief executive Jensen Huang’s] “The rhetoric will define where technology is, where it is going, and what boundaries must be broken,” Kramer said. “And it will break it.”

Adobe

  • Announcing Q1 2022 earnings after closing; Conference call at 5 p.m. ET
  • Expected EPS: $3.34
  • Expected revenue: $4.24 billion
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Cramer said he believes Adobe will do better than Wall Street expects, “but the standards have risen ridiculously for this wonderful company.”

Wednesday: General Mills, KP Home, Ole Outlet Collectibles

general mills

  • Announcing Q3 2022 earnings before the bell; Conference call at 9 a.m. ET
  • Expected EPS: 78 cents
  • Expected revenue: $4.56 billion

“Food stocks are a declining group … they are hurt by inflation in every part of their manufacturing chain. Much less defensive than they used to be,” Kramer said of General Mills and other food companies.

KB Home

  • Announcing Q1 2022 earnings after closing; Conference call at 5 p.m. ET
  • Expected EPS: $1.54
  • Expected revenue: $1.5 billion

Cramer said he expects the company “to invalidate the numbers and even get some credit for doing so.”

Ole Collectibles Deal

  • Announcing fourth-quarter 2021 earnings after closing; Conference call at 4:30 p.m. ET
  • Expected EPS: 66 cents
  • Expected revenue: $513 million

Cramer said the problem Olly could have is limited inventory if other retailers don’t have any unsold products for Olly’s to get their hands on because consumers want to pay full price for everything.

Thursday: Darden restaurants

Darden Restaurants

  • Announcing Q3 2022 earnings before the bell; Conference call at 8:30 a.m. ET
  • Expected EPS: $2.11
  • Expected revenue: $2.52 billion

Cramer said listening to Darden’s call will show where consumers choose to spend their money after staying during the pandemic.

Friday: University of Michigan Consumer Sentiment Index

University of Michigan Consumer Confidence Index Report numbers for March Friday after the preliminary index fell to 59.7 earlier this month, Lowest level in nearly 11 yearsAccording to Reuters. If the Consumer Confidence Index number turns out to be “dismal,” Cramer said, that’s bad news for gardening companies and outdoor living companies like Home Depot and Lowe’s.

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