Earning season begins with major banks

Wall Street ended another volatile week on Friday, but corporate earnings season kicks off next week and may bring some direction to the market.

“The week recovered from an early selloff and ended up strong enough to get into the head of earnings season with a decent header, so let’s go out there and peek at what to see,” CNBC’s Jim Cramer said.

Here’s Kramer’s look at major corporate news coming next week. Revenue and earnings per share forecast are estimates from Factset.

Monday: AMC in the spotlight

The Early signs of box office performance From the new James Bond movie is strong, and it could lead to a wild move on Monday to buy shares AMC Entertainment HoldingsKramer said.

“One thing is for sure: If Bond does well, AMC CEO Adam Aaron will tweet as much as possible about these box office numbers… That trajectory continues, even though many money managers would love to fight the man without End and bet on it,” Kramer said.

Tuesday: Fastenal earnings

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  • Third Quarter 2021 Earnings Statement: Before the Opening Bell; Conference call: 10 a.m.
  • Expected EPS: 42 cents
  • Expected revenue: $1.54 billion

“The market value may not exceed $30 billion, but Fastinal is a proxy for foreign industrial growth,” Cramer said.

Wednesday: JPMorgan, BlackRock and Delta earnings

JP Morgan

  • 2021 third-quarter earnings statement: before the opening bell; Conference call: 8:30 a.m.
  • Expected EPS: $3.01
  • Expected revenue: $29.8 billion

“It’s almost impossible to tell how the market will react to JPMorgan’s earnings when we see it Wednesday. This is a well-run company that’s used to releasing great numbers, but it’s usually not going to be impressive enough to justify a dip in stocks,” Cramer said.

Black stone

  • 2021 third-quarter earnings statement: before the opening bell; Conference call: 8:30 a.m.
  • Expected EPS: $9.57
  • Expected revenue: $4.8 billion

He said, “This massive asset pool is likely to have a whopping quarter … BlackRock is what I call an old stock. If you want to buy something to trade, that’s it. The reverence here is incredible.” .

Delta Airlines

  • Third Quarter 2021 Earnings Statement: Before the Opening Bell; Conference call: 10 a.m.
  • Expected EPS: 17 cents
  • Expected revenue: $8.4 billion

“The airlines seem to be talking every day. They can’t be silent. But when Delta reports on Wednesday morning there are still people out there who will be surprised at how optimistic they are,” Kramer said.

Thursday: More bank profits, along with Domino’s Pizza and Greens

Morgan Stanley

  • Third Quarter 2021 Earnings Statement: Before the Opening Bell; Conference call: 8:30 a.m.
  • Expected EPS: $1.69
  • Expected revenue: $13.9 billion

Wells Fargo

  • Third Quarter 2021 Earnings Statement: Before the Opening Bell; Conference call: 11:30 a.m.
  • Expected EPS: $1.00
  • Expected revenue: $18.2 billion

“I bet Morgan Stanley is going to be amazing and Wells Fargo won’t be as bad as before. That’s good news for both of them,” Kramer said.

American bank

  • 2021 third-quarter earnings statement: before the opening bell; Conference call: 9 am
  • Expected EPS: 71 cents
  • Expected revenue: $21.7 billion

City Group

  • 2021 third-quarter earnings statement: before the opening bell; Conference call: 8 am
  • Expected EPS: $1.73
  • Expected revenue: $17.1 billion

“We also get reports from Bank of America and Citigroup. We know Citi is still cheap perpetually. I don’t see that going away any time soon. Bank of America can make real money because long-term interest rates are going up and that’s what they need to Move that needle.”

Domino’s Pizza

  • Third Quarter 2021 Earnings Statement: Before the Opening Bell; Conference call: 10 a.m.
  • Expected EPS: $3.11
  • Expected revenue: $1.03 billion

“I think this juggernaut is going to beat the numbers again because the delta variant has people walking around again in their homes,” Kramer said.

Walgreens Boots Alliance

  • Fifth Quarter 2021 Earnings Statement: Before the Opening Bell; Conference call: 8:30 a.m.
  • Expected EPS: $1.02
  • Expected revenue: $33.03 billion

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

Friday: Goldman and JP Hunt earnings

Goldman Sachs

  • Third Quarter 2021 Earnings Statement: Before the Opening Bell; Conference call: 10:30 a.m.
  • Expected EPS: $10.14
  • Expected revenue: $11.7 billion

“I’m expecting a great one. Expenses are under control. Wealth management is solid. Fixed income is pretty cool. … The good thing about Goldman stock is that it actually tracks earnings, so if the quarter is really as strong as I think it is, don’t chase it. That’s a fool’s job,” Kramer said.

GB Hunt Transportation Services

  • 2021 third-quarter earnings statement: before the opening bell; Conference call: 10 a.m.
  • Expected EPS: $1.78
  • Expected revenue: $3.02 billion

“Hopefully they can explain what’s going on with the problem of finding truck drivers,” he said. “Finding drivers has become a nightmare.”

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