With one jam-packed week of earnings down, another is nigh.
The Dow Jones Industrial Average posted its second positive trading week in three, the S&P 500 had its third positive week in a row and the Nasdaq Composite posted its fourth-straight week of gains.
The S&P 500 closed about three points off its all-time highs, while the other two indexes are within 2% of their respective highs.
“After the genuinely better-than-expected numbers we saw this week, I’m confident about next week, even if the deluge of earnings reports mean I won’t be able to get, let’s say, one whit of sleep next week,” CNBC’s Jim Cramer said.
The “Mad Money” host revealed what company earnings he’ll be watching in the week ahead:
Monday: AT&T, Walgreens, Alphabet, Beyond Meat
AT&T reports third-quarter earnings before the market opens. The technology conglomerate is expected to record profit of 93 cents per share and revenue of $45.1 billion, about 1.4% lower than what it reported a year ago, according to FactSet.
Walgreens Boots Alliance hosts an earnings call in the morning. Analyst consensus estimates are forecasting $1.41 earnings per share and more than $33.8 billion in revenue for the company’s final fiscal 2019 quarter. Full-year estimates sit at $5.97 EPS on $136.8 billion of revenue.
Alphabet, the parent of Google, delivers its quarterly report after the market closes. Wall Street is looking for $12.30 EPS and $40.3 billion worth of sales in the September quarter. That revenue would represent about 19% year-over-year growth.
“I care about one thing, and one thing only: an acceleration in Google’s cloud business,” Cramer said. “Any sign that Alphabet’s taking share from Microsoft’s Azure … or Amazon Web Services … well that would send this stock to all-time highs.”
Beyond Meat reports after the market closes. The faux-meat company is expected to turn in 4 cents EPS on $82 million in revenue.
Tuesday: Mastercard, Merck, General Motors, Shopify, GrubHub, AMD
Mastercard is expected to show $2.01 EPS and $4.4 billion in revenue in its morning earnings report. Given how Wall Street reacted to results from PayPal and Visa, Cramer thinks Mastercard will also deliver.
Merck also reports in the morning. Analyst consensus pegs profit per share at $1.24 and sales at more than $11.6 billion, according to FactSet.
General Motors has survived a 40-day strike from UAW workers, now shareholders get to hear how it affected business when auto executives host an earnings call in the morning. Wall Street estimates are $1.38 EPS on $34.9 billion in sales for the third quarter, according to FactSet.
Shopify delivers third-quarter results before the morning bell. Analysts are looking for 11 cents EPS and $384 million in revenue.
GrubHub also reports in the morning, while Advanced Micro Devices discloses its results after the market closes.
Wednesday: Fed meeting, Apple, Facebook
Cramer said there is enough weak data from industrials earnings to justify another interest rate cut from the Federal Reserve. The move would help the auto market and give exporters the ability to better compete globally — and the market would roar, he added.
The host framed Wednesday as the “most important afternoon of earnings season” with reports from Apple and Facebook coming out.
Apple hosts an earnings call for its 2019 fiscal fourth quarter at 5 p.m. Analyst consensus estimates peg earnings per share at $2.83 on more than $62.9 billion in revenue.
Facebook hosts a shareholder call at the same time. Wall Street expects $1.91 EPS and $17.3 billion in revenue.
Thursday: Bristol-Myers, Estee Lauder
Bristol-Myers Squibb releases its third-quarter report before the market opens for trading. The pharmaceutical company is expected to deliver $1.07 EPS and bring in nearly $5.9 billion in revenue.
Estee Lauder also has a morning release in which analysts expect the cosmetics company to produce $1.60 in profit per share and bring in $3.8 billion on the top line.
Friday: Exxon, Chevron
Exxon reports before the bell. Wall Street is looking for 67 cents EPS on $60.9 billion in revenue.
Chevron also reports in the morning. Estimates are $1.49 EPS and $38 billion of revenue.
Disclosure: Cramer’s charitable trust owns shares of Alphabet, Apple, Facebook, Microsoft and Amazon.
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