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 ready to take advantage of good deals.

“Ultimately, you’ll be sorry if you don’t buy anything on the big sell-offs. When the market finally gets too big, though, that’s when you have to pounce,” Cramer said.

Stocks gained on Friday but ended a volatile week lower, with losses fueled by warmer-than-expected economic data, the Federal Reserve’s 75 basis point 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. The bottom line? safe in nothing,” he said.

Cramer said he is watching the release of the consumer price index next week, as well as slated speeches from Cleveland Fed President Loretta Mester that could further shake the market.

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He also previewed next week’s earnings schedule. All earnings and revenue estimates are courtesy of FactSet.

Monday: BioNTech, Take-Two Interactive

BioNTech

  • Q3 2022 earnings release at 5 am ET; conference call at 8 am ET
  • Projected EPS: $3.34
  • Projected revenue: $2.02 billion

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

Build-Two Interactive

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

Cramer said it’s an injustice to call the company a pandemic play.

Tuesday: GlobalFoundries, Disney, AMC Entertainment

GlobalFoundries

  • Q3 2022 earnings release before the bell; conference call at 8:30 am ET
  • Projected EPS: 62 cents
  • Projected revenue: $2.05 billion

He said he’s interested to see if the chip shortage will improve before the economy picks up.

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Disney

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

The Charitable Trust is ready to buy more shares of Disney if it comes down enough, Cramer said.

AMC Entertainment

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

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

Wednesday: Wynn Resort

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

Cramer said his Charitable Trust is sticking with the stock.

Thursday: Compass, Matterport, Toast

Compass

  • Q3 2022 earnings release after hours; conference call at 5 pm ET
  • Projected loss: 29 cents per share
  • Projected revenue: $1.45 billion
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Contentport

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

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

Toast

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

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

Disclaimer: Disney and Wynn Resorts shares are owned by Cramer’s Charitable Trust.

Cramer's game plan for the November 7 trading week

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