June 16, 2024

Cocoabar21 Clinton

Truly Business

Earnings season has been ‘far better’ than expected

5 min read

CNBC’s Jim Cramer, marking the end of earnings season, on Friday said the slate of major corporate reports over the past weeks were “far better than anyone expected.”

The results revealed, he said, that investors have a range of investment opportunities, barring any speculative trading that has lately confounded Wall Street professionals.

The comments come after major U.S. averages rose in Friday’s session, turning in back-to-back weeks of gains that took the market to new highs. The Dow Jones Industrial Average moved 1% higher this week to close at 3,458.40 and the S&P 500 increased 1.23% to 3,934.83. The tech-heavy Nasdaq Composite outgained bot, climbing 1.7% higher to 14,095.47.

After the close, Cramer said market activity has become less volatile after multiple weeks of high-volume trading.

“I like normal, because if we’re not careful, a good portion of this market might be headed down the highway to the danger zone,” the “Mad Money” host said. “A day with less froth, like today, is a day where the rally feels more sustainable. But if the cannabis cohort and the short-busters and the incredible pumping and dumping I am seeing on the web is coming back, well you know I’m going to have to get more negative.”

Cramer gave his game plan for the week ahead. Earnings-per-share projections are based on FactSet estimates:

Tuesday: CVS Health, Zoetis, Ring Central and Occidental earnings

Wednesday: Shopify, Twilio, Fastly, Pioneer Natural Resources and Boston Beer earnings

Thursday: Walmart, Barrick Gold, Applied Materials, Roku, The Trade Desk

Friday: Deere and Magna earnings

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