Watch bonds & Ukraine as earnings season picks up

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CNBC’s Jim Cramer on Thursday previewed next week’s slate of earnings and what investors should have on their radar to prepare for the tumultuous market ahead.

The “Mad Money” host said that bonds, Russia’s invasion of Ukraine and Covid lockdowns in China are “the stories that do matter with Treasurys running roughshod over everything once again.”

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

Monday: Bank of America

  • Q1 2022 earnings release at 6:45 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: 75 cents
  • Projected revenue: $23.13 billion

“We are beginning to see this behemoth assert itself as the world’s number one bank. I bet it won’t disappoint,” Cramer said.

Tuesday: Halliburton, Johnson & Johnson, Travelers, Prologis, Netflix

Halliburton

  • Q1 2022 earnings release before the bell; conference call at 9 a.m. ET
  • Projected EPS: 34 cents
  • Projected revenue: $4.2 billion

Cramer said that Halliburton is a great company, noting that it’s becoming one of the Charitable Trust’s biggest positions.

Johnson & Johnson

  • Q1 2022 earnings release at 6:45 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: $2.59
  • Projected revenue: $23.64 billion

Cramer had little to say about Johnson & Johnson, simply stating that it is “busy breaking itself up to create more value.”

Travelers

  • Q1 2022 earnings release before the bell; conference call at 9 a.m. ET
  • Projected EPS: $3.61
  • Projected revenue: $8.03 billion

Travelers is “boring but really good,” Cramer said.

Prologis

  • Q1 2022 earnings release tbd; conference call at noon ET
  • Projected EPS: $1.07
  • Projected revenue: $1.09 billion

Cramer said that Prologis is “a cacophony of greatness all worthy of your trust.”

IBM

  • Q1 2022 earnings release after the close; conference call at 5 p.m. ET
  • Projected EPS: $1.39
  • Projected revenue: $13.78 billion

“[CEO Arvind Krishna] spun off the slower-growing businesses, kept the fast ones. Should be IBM’s time to shine when it reports after the close,” Cramer said.

Netflix

  • Q1 2022 earnings release at 4 p.m. ET; conference call at 6 p.m. ET
  • Projected EPS: $2.92
  • Projected revenue: $7.94 billion

The company needs to charge customers more and isn’t as bold as it used to be, according to Cramer.

Wednesday: Procter & Gamble, Tesla, United Airlines

Procter & Gamble

  • Q3 2022 earnings release at 7 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: $1.30
  • Projected revenue: $18.70 billion

Cramer said that he is “leaning on” making the company the largest position in his Charitable Trust if the price comes down.

Tesla

  • Q1 2022 earnings release after the close; conference call at 5:30 p.m. ET
  • Projected EPS: $2.26
  • Projected revenue: $17.60 billion

Cramer’s betting that CEO Elon Musk will wow investors on the conference call.

United Airlines

  • Q1 2022 earnings release after the close; conference call on Thursday at 10:30 a.m. ET
  • Projected loss: loss of $4.22 per share
  • Projected revenue: $7.67 billion

Cramer said that if the company reports having a fantastic number of bookings as Delta Air Lines did this week, it’ll go to show that the travel industry is doing well.

Thursday: AT&T, Freeport-McMoRan

AT&T

  • Q1 2022 earnings release before the bell; conference call at 8:30 a.m. ET
  • Projected EPS: 60 cents
  • Projected revenue: $38.24 billion

“I’m not a huge believer in this one,” Cramer said.

Freeport-McMoRan

  • Q1 2022 earnings release before the bell; conference call at 10 a.m. ET
  • Projected EPS: 90 cents
  • Projected revenue: $6.32 billion

“Copper is a terrific proxy for the Chinese economy, and Freeport will tell us where the copper is going,” Cramer said.

Friday: American Express, Schlumberger

American Express

  • Q1 2022 earnings release at 7 a.m. ET; conference call at 8:30 a.m. ET
  • Projected EPS: $2.39
  • Projected revenue: $11.61 billion

Cramer said he believes American Express is “screaming buy” in light of Delta’s bullish outlook on travel.

Schlumberger

  • Q1 2022 earnings release at 7 a.m. ET; conference call at 9:30 a.m. ET
  • Projected EPS: 33 cents
  • Projected revenue: $5.92 billion

“Will Russians one day have a decline in oil production? I bet Schlumberger can trace out what is about to happen if they stop drilling,” Cramer said.

Disclosure: Cramer’s Charitable Trust owns shares of Halliburton, Procter & Gamble and Wells Fargo.

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