Be ready to ‘pounce’ when the market is oversold

CNBC’s Jim Cramer warned investors on Friday not to get complacent about their portfolios and be ready to take advantage of good deals.

“Ultimately, you’ll only regret not buying anything during the big sell-offs. But when the market finally gets sufficiently oversold, that’s when you have to pounce,” Cramer said.

Stocks rallied on Friday but ended a volatile week lower, with losses triggered by a worse-than-expected economic situation, the Federal Reserve’s 75 basis point interest rate hike and its hawkish rhetoric on inflation.

“We’re in a very emotional moment that has a lot to do with how individual companies are doing and a lot to do with what Wall Street expects of them. The bottom line? Until those expectations come down, you shouldn’t feel safe about anything ,” he said.

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

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He also reviewed the income plan for the next week. All earnings and revenue estimates courtesy of FactSet.

Monday: BioNTech, Take-Two Interactive

BioNTech

  • Q3 2022 Earnings Release at 5:00 AM ET; conference call at 8:00 a.m. ET
  • Estimated earnings per share: $3.34
  • Estimated revenue: $2.02 billion

Investors in BioNTech should keep their fingers crossed for the company to announce that China has ordered “more than a billion” of Covid-19 vaccines, he said.

Take-Two Interactive

  • Q2 2023 earnings at 4:05 PM ET; conference call at 4:30 PM ET
  • Estimated earnings per share: $1.37
  • Estimated revenue: $1.55 billion

Cramer said it’s unfair that the company is known as a pandemic play.

Tuesday: GlobalFoundries, Disney, AMC Entertainment

GlobalFoundries

  • Q3 2022 Earnings Release Before Bell; conference call at 8:30 a.m. ET
  • Projected EPS: 62 cents
  • Estimated revenue: $2.05 billion
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He said he’s interested in knowing whether the chip shortage 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
  • Projected EPS: 55 cents
  • Estimated revenue: $21.28 billion

The Charitable Trust is prepared to buy more Disney stock if it drops enough, Cramer said.

AMC Entertainment

  • Q3 2022 Earnings Release at 4:15 PM ET; conference call at 5:00 PM ET
  • Estimated loss: 22 cents per share
  • Estimated revenue: $961 million

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

Wednesday: Wynn Resorts

  • Q3 2022 Earnings Release at 4:00 PM ET; conference call at 4:30 PM ET
  • Estimated loss: $1.14 per share
  • Estimated revenue: $871 million

Cramer said his Charitable Trust is holding onto the stock.

Thursday: Compass, Matterport, Toast

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Compass

  • Q3 2022 earnings release after bell; conference call at 5:00 PM ET
  • Estimated loss: 29 cents per share
  • Estimated revenue: $1.45 billion

Matterport

  • Q3 2022 earnings release after the close; conference call at 4:30 PM ET
  • Estimated loss: 13 cents per share
  • Projected income: $36 million

“The era of excess allowed everyone and anything to go public,” Cramer said of Compass and Matterport.

Toast

  • Q3 2022 Earnings Release at 4:05 PM ET; conference call at 5:00 PM ET
  • Estimated loss: 8 cents per share
  • Estimated revenue: $720 million

Toast has a good product, but a good product doesn’t necessarily mean a good stock, Cramer said.

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

Cramer's game plan for the November 7 trading week

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