Wall Street gets an update on the coronavirus epidemic in China each night, and while the numbers are not always dependable, stocks are reacting to the information, CNBC’s Jim Cramer said Friday.
The ongoing global health concern led to a mixed day of trading in the market, he said. The Dow Jones Industrial Average fell about 25 points, while the S&P 500 and Nasdaq Composite both rose about 0.20%. The major averages, however, all posted weekly gains.
“Until the outbreak burns itself out, the corona statistics, and not earnings, will continue to control the day-to-day action,” the “Mad Money” host said.
Cramer went on to reveal what he has circled on his calendar for the coming shortened week of earnings reports after the Presidents Day holiday Monday:
Tuesday: Walmart, Medtronic earnings
Walmart reports fourth-quarter fiscal 2020 earnings in the morning. The retailer is expected to record $142.5 billion in revenue and $1.44 of earnings per share, according to FactSet estimates.
“We want to know how much they’ll be hurt by the China slowdown, and in particular whether their supply chain will be disrupted,” Cramer said.
Medtronic also reports third-quarter fiscal financial results early in the morning. Analysts project the medical device company will have $7.8 billion in sales and earn $1.38 per share.
Wednesday: Dish Network, Bausch Health, Analog Devices, Elanco Animal Health, Pioneer Natural Resources, Energy Transfer Partners earnings
Dish Network will hold an earnings call at noon to discuss its results from the December quarter. The satellite television provider is expected to show $3 billion on the top line and 58 cents in earnings per share.
Bausch Health‘s fourth-quarter earnings report comes out in the morning. The Canadian pharmaceutical company is projected to record about $2.2 billion in revenue and $1.15 in earnings per share.
Cramer said, “Unless Bausch reports on a real bad day for the coronavirus, I think this stock can go higher.”
Analog Devices releases its earnings report from its first quarter of the 2020 fiscal year before the morning bell. Wall Street expects the chipmaker to bring in revenue of $1.3 billion and profits of $1 per share.
Elanco Animal Health reveals its quarterly results in the morning, as well. The company is expected to collect $790 million in revenues and produce 23 cents of earnings per share, FactSet said.
Pioneer Natural Resources, one of the few oil companies Cramer continues to follow, reports earnings after the closing bell. Wall Street is looking for revenues of almost $2.48 billion and earnings per share of $2.11.
“These guys always play it straight. They’ll give us the real skinny on where the industry’s headed,” Cramer said. “I trust them.”
Energy Transfer also reports in the afternoon. The propane pipeline transporter is expected to bring in $13.47 billion on the revenue line and make a profit of 36 cents per share.
“I think you’re going to be able to figure out that we simply have too much pipe for ETP’s own good,” Cramer said. “Avoid this stock.”
Thursday: Norwegian Cruise Line, ViacomCBS, American Electric Power, Con Edison, Domino’s Pizza, Ventas and Zscaler earnings
Norwegian Cruise Line reports fourth-quarter earnings prior to the morning bell. The company is estimated to show $1.4 billion of revenue and 70 cents earnings per share.
“Right now, this whole industry is in crisis” because of the coronavirus outbreak, Cramer said. “I think it’s too risky … but I want them to make the case.”
ViacomCBS will report financial results in the morning for the first time since Viacom and CBS officially re-merged in December. Wall Street expects the media company to report about $5.7 billion in revenue and $1.40 in earnings per share.
“The combination is what attracted me to this thing, but these days ViacomCBS has to do a lot more to entice other shareholders. Until then, [it’s] a broken stock.”
American Electric Power reports quarterly earnings before the market opens for trading. The utility company is expected to print $4.27 billion on the revenue line and produce 58 cents in profits per share.
Consolidated Edison reports after the market closes. Analysts are looking for $3.1 billion of revenue and 80 cents of earnings per share.
Domino’s Pizza earnings report comes out in the morning. Wall Street estimates the pizza chain to count $1.1 billion in revenue and $2.98 in earnings per share. Cramer wants to find out how delivery aggregate apps, such as Postmates and DoorDash, continue to impact the pizza chain.
“The competition’s hurt them, but the action in the stock … tells me that maybe there’s some good things happening,” Cramer said.
Ventas has a fourth-quarter earnings report coming out before the market opens. The real estate investment trust is estimated to have revenues of $969 million and earnings of 92 cents per share.
“I’m betting CEO Deb Cafaro gets the story back on track,” the host said. “She’s historically been a bankable chief executive. Plus, Ventas is paying you a 5.3% yield to wait for the turn that I think Deb is going to engineer.”
Zscaler reports earnings at the end of the trading day. The cybersecurity company is projected to have $99 million in sales and 3 cents in earnings per share, according to FactSet.
Friday: Deere earnings
Deere & Company reveals its fiscal 2020 first-quarter earnings in the morning. The agricultural machinery manufacturer is estimated to have $6.2 billion in revenue and $1.29 in earnings per share.
“The group’s been doing terribly, but never fear,” Cramer said. “This is an election year and in election years farmers tend to get big handouts, even bigger than the usual subsidies.”
Disclosure: Cramer’s charitable trust owns shares of ViacomCBS.
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