Own solid names and have cash for market bounce

CNBC’s Jim Cramer said Friday that keeping the current market going is waiting for a rally — and investors should be prepared when that happens.

“Your portfolio needs to be split between some cash and some stocks that can thrive in a recession. … You need to accept the fact that we’re just trying to stay in the game until times get better,” said the host of “Mad Money”. †

“But if we get to the promised land, it will be worth it because then supplies will come back,” he added.

The market ended a bumpy trading week on Friday. While the market recovered on Wednesday afternoon following the Federal Reserve’s decision to hike rates by 50 basis points, losses on Thursday and Friday wiped out those gains. One basis point is equal to 0.01%.

Cramer said he is looking forward to the release of April’s consumer price index next week. “If we get a weaker CPI figure, the market could recover,” he said.

He also provided a preview of next week’s earnings. All earnings and revenue estimates are from FactSet.

Monday: Tyson Foods, BioNTech

Tyson Foods

  • Q2 2022 profit figures for the bell; conference call at 9 a.m. ET
  • Expected earnings per share: $1.89
  • Expected Revenue: $12.84 Billion

Cramer said he hopes for news indicating food prices are falling.

BioNTech

  • Q1 2022 profit figures for the bell; conference call at 8 a.m. ET
  • Projected EPS: $9.65
  • Expected Revenue: $4.57 Billion

Understanding any developments related to China’s Covid-19 vaccination plans would be helpful, Cramer said.

Tuesday: Peloton, Roblox, RealReal

platoon

  • Q3 2022 earnings figures before the bell; conference call at 8:30 a.m. ET
  • Expected loss: 84 cents per share
  • Expected Revenue: $969 Million

“I bet we’ll eventually see some kind of ‘WeCrashed’-esque TV series about Peloton – if not ‘The Dropout’ – and I wonder who’s going to write the screenplay first,” said the host of The Mad Money, referring to the television dramas about scandals at WeWork and Theranos respectively.

Roblox

  • Q1 2022 earnings figures after closing; conference call on Wednesday at 8:30 a.m. ET
  • Expected loss: 23 cents per share
  • Expected Revenue: $659 Million

“Fantastic company, bad stock. … We keep it in the penalty box that all things” [metaverse] belong now,” Cramer said.

real real

  • Q1 2022 earnings figures after closing; conference call at 5 p.m. ET
  • Expected loss: 54 cents per share
  • Expected Revenue: $136 Million

Cramer said he doesn’t understand why the stock is falling.

Wednesday: Wendy’s, Rivian

Wendy’s

  • Q1 2022 for the bell; conference call at 8:30 a.m. ET
  • Expected earnings per share: 18 cents
  • Expected Revenue: $497 million

Cramer said he’s interested to hear if the company has staffing issues at its restaurants, as do others in the industry.

Rivian

  • Q1 2022 earnings figures after closing; conference call at 5 p.m. ET
  • Expected loss: $1.41 per share
  • Expected Revenue: $133 Million

Cramer said he wants to know if Rivian will allow Ford to sell its stake in the electric vehicle manufacturer.

Thursday: Toast, Poshmark

Toast

  • Q1 2022 earnings figures after closing; conference call at 5 p.m. ET
  • Expected loss: 13 cents per share
  • Expected Revenue: $487 Million

Cramer said he is “anti-Toast” because there are too many players in the restaurant’s management space.

poshmark

  • Q1 2022 earnings figures after closing; conference call at 4:45 PM ET
  • Expected loss: 25 cents per share
  • Expected Revenue: $87.6 million

Cramer said he will tune in to hear about the company, which he said hurt investors buying its shares.

Disclosure: Cramer’s Charitable Trust owns shares of Ford.

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