Be ready to ‘pounce’ when the market is oversold

CNBC’s Jim Cramer warned investors on Friday not to be cautious when it comes to their portfolios and to be ready to take advantage of good deals.

“At the end of the day, you’re only going to regret it if you don’t buy in the big sell-offs. When the market finally sells off enough, that’s when you have to go down,” Cramer said.

Stocks gained on Friday but ended a volatile week lower, with losses driven by warmer economic data, a 75 basis point hike by the Federal Reserve and its tough rhetoric on inflation.

“We’re in a wildly emotional moment that has everything to do with the health of individual companies and everything to do with what Wall Street expects of them. The bottom line? Until those expectations come down, you shouldn’t feel. safe in everything,” he said.

Cramer said he expects the release of the consumer price index next week, along with speeches from Cleveland Fed President Loretta Mester, which could shake up the market further.

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He also looked at the income chart for the next week. All earnings and revenue estimates are verified by FactSet.

Dushanbe: BioNTech, Take-Two Interactive

BioNTech

  • Q3 2022 earnings release at 5:00 a.m. ET; conference call at 8:00 a.m. ET
  • Expected EPS: $3.34
  • Estimated revenue: $2.02 billion

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

Take-Two Interactive

  • Income in Q2 2023 at 16:05 am; conference call at 4:30 p.m. ET
  • Expected EPS: $1.37
  • Estimated revenue: $1.55 billion

Cramer said it’s an injustice that the company is known as a pandemic game.

Tuesday: GlobalFoundries, Disney, AMC Entertainment

GlobalFoundries

  • Earnings release ahead of Q3 2022 call; conference call at 8:30 a.m. ET
  • Expected EPS: 62 cents
  • Estimated revenue: $2.05 billion
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He said he’s interested to see if the chip shortage improves before the economy worsens.

Disney

  • Q4 2022 earnings release at 4:05 PM ET; conference call at 4:30 p.m. ET
  • Expected EPS: 55 cents
  • Estimated revenue: $21.28 billion

The charitable trust is willing to buy more Disney stock if it falls low enough, Cramer said.

AMC Entertainment

  • Q3 2022 earnings release at 4:15 PM ET; conference at 5:00 p.m
  • Estimated loss: 22 cents per share
  • Estimated revenue: $961 million

He said that while AMC could turn a profit in its latest quarter, he wasn’t betting on it.

Wednesday: Wynn Resorts

  • Q3 2022 earnings release at 4:00 PM ET; conference call at 4:30 p.m. ET
  • Estimated loss: $1.14 per share
  • Estimated revenue: $871 million

Cramer said his Charitable Trust will remain with the shares.

Thursday: Compass, Matterport, Toast

Compass

  • Earnings release after Q3 2022 call; conference at 5:00 p.m
  • Estimated loss: 29 cents per share
  • Estimated revenue: $1.45 billion
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Motherport

  • Earnings release after the close in Q3 2022; conference call at 4:30 p.m. ET
  • Estimated loss: 13 cents per share
  • Estimated revenue: $36 million

“The era of excess allowed anyone and anything to go public, so they did,” Cramer said of Compass and Matterport.

Toast

  • 3rd quarter 2022 earnings release at 4:05 p.m.; conference at 5:00 p.m
  • Estimated loss: 8 cents per share
  • Estimated revenue: $720 million

Cramer said the bakery has a good product, but a good product doesn’t necessarily make for a good stock.

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

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

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