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Cramer’s week ahead: Earnings season kicks off with the major banks

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Wall Street wrapped another volatile week on Friday, but corporate earnings season kicks into gear next week and could bring some direction to the market.

“The week recovered from an early sell-off and ended up strong enough to go into the head of earnings season with a decent head of steam, so let’s go there and peek at what’s there to be seen,” CNBC’s Jim Cramer said.

Here is Cramer’s look at the big corporate news coming next week. Revenue and earnings-per-share projections are estimates from Factset.

Monday: AMC in the spotlight

The early signs for the box office performance of the new James Bond film are strong, and that could lead to a wild Monday move for shares of AMC Entertainment Holdings, Cramer said.

“One thing is for certain: If Bond does well, AMC CEO Adam Aron will tweet to the limit about those box office numbers. … Adam’s the kind of guy who isn’t shy about how his shareholders will make out like bandits if this trajectory continues, even though many money managers like to endlessly rail and bet against the man,” Cramer said.

Tuesday: Fastenal earnings

Fastenal

Q3 2021 earnings release: before the opening bell; conference call: 10 a.m.Projected EPS: 42 centsProjected revenue: $1.54 billion

“It may be only $30 billion in market value but Fastenal is a proxy for foreign industrial growth,” Cramer said.

Wednesday: JPMorgan, Blackrock and Delta earnings

JPMorgan

Q3 2021 earnings release: before the opening bell; conference call: 8:30 a.m.Projected EPS: $3.01Projected revenue: $29.8 billion

“It’s almost impossible to determine how the market will react to JPMorgan’s earnings when we see them Wednesday. This is a well-run company that’s in the habit of putting out terrific numbers, but will they be terrific enough to justify the run in the stock? Typically not,” Cramer said.

BlackRock

Q3 2021 earnings release: before the opening bell; conference call: 8:30 a.m.Projected EPS: $9.57Projected revenue: $4.8 billion

“This huge asset gatherer will most likely have a monster quarter. … BlackRock is what I call a sainted stock. If you are itching to buy something for a trade, this is the one. The reverence here is incredible,” he said.

Delta Air Lines

Q3 2021 earnings release: before the opening bell; conference call: 10 a.m.Projected EPS: 17 centsProjected revenue: $8.4 billion

“The airlines seem to be talking every day. They can’t shut up. Yet when Delta reports on Wednesday morning there will still be people who are going to be surprised at how bullish they are,” Cramer said.

Thursday: More bank earnings, along with Domino’s Pizza and Walgreens

Morgan Stanley

Q3 2021 earnings release: before the opening bell; conference call: 8:30 a.m.Projected EPS: $1.69Projected revenue: $13.9 billion

Wells Fargo

Q3 2021 earnings release: before the opening bell; conference call: 11:30 a.m.Projected EPS: $1.00Projected revenue: $18.2 billion

“I’m betting Morgan Stanley’s will be amazing and Wells Fargo’s won’t be as bad as it used to be. That’s good news for both of them,” Cramer said.

Bank of America

Q3 2021 earnings release: before the opening bell; conference call: 9 a.m.Projected EPS: 71 centsProjected revenue: $21.7 billion

Citigroup

Q3 2021 earnings release: before the opening bell; conference call: 8 a.m.Projected EPS: $1.73Projected revenue: $17.1 billion

“We also get reports from Bank of America and Citigroup. We know Citi remains perennially cheap. I don’t see that ending anytime soon. Bank of America could have a real earnings breakout because long-term interest rates are going higher and that’s what they need to move that needle.”

Domino’s Pizza

Q3 2021 earnings release: before the opening bell; conference call: 10 a.m.Projected EPS: $3.11Projected revenue: $1.03 billion

“I think that this juggernaut will beat numbers again because the Delta variant made people hunker down again in their homes,” Cramer said.

Walgreens Boots Alliance

Q4 2021 earnings release: before the opening bell; conference call: 8:30 a.m.Projected EPS: $1.02Projected revenue: $33.03 billion

“The stock has been down so long that it kind of looks up to me. Any positive news could send it higher, though I can’t imagine what that news could be,” he said.

Friday: Goldman and J.B. Hunt earnings

Goldman Sachs

Q3 2021 earnings release: before the opening bell; conference call: 10:30 a.m.Projected EPS: $10.14Projected revenue: $11.7 billion

“I expect a great one. Expenses under control. Wealth management strong. Fixed income pretty cool. … The good thing about Goldman’s stock is that it actually tracks the earnings, so if the quarter is actually as robust as I think it will be, don’t chase it. That’s a fool’s errand,” Cramer said.

J.B. Hunt Transport Services

Q3 2021 earnings release: before the opening bell; conference call: 10 a.m.Projected EPS: $1.78Projected revenue: $3.02 billion

“We hope that they can explain what the heck is going on with finding trucking drivers. Finding drivers has become a nightmare,” he said.

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