Own solid names and have cash for market bounce

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CNBC’s Jim Cramer said Friday that enduring the current market is a waiting game for a rally – and investors need to be prepared for when that happens.

“Your portfolio should be split among some cash and some stocks that can thrive in a recession. … You need to accept the fact that we’re simply trying to stay in the game until times get better,” the “Mad Money” host said .

“But when we do reach the promised land, it’ll be worth it, because that’s when stocks come roaring back,” he added.

The market concluded a bumpy week of trading on Friday. While the market rallied on Wednesday after the Federal Reserve’s meeting, when the board raised interest rates by 50 basis points, losses on Thursday and Friday demolished the gains.

Cramer said he will be watching for the April consumer price index release next week. “If we do get a weaker CPI figure, the market could rally,” he said.

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

Monday: Tyson Foods, BioNTech

Tyson Foods

  • Q2 2022 earnings release before the open; conference call at 9 am ET
  • Projected EPS: $1.89
  • Projected revenue: $12.84 billion

Cramer said he’s hoping for any news indicating that food prices are coming down.

BioNTech

  • Q1 2022 earnings release before the open; conference call at 8 am ET
  • Projected EPS: $9.65
  • Projected revenue: $4.57 billion

Insight into any developments regarding China’s Covid vaccination plans would be helpful, Cramer said.

Tuesday: Peloton, Roblox, RealReal

Peloton

  • Q3 2022 earnings release before the bell; conference call at 8:30 am ET
  • Projected loss: loss of 84 cents per share
  • Projected revenue: $969 million

“I bet we’ll eventually see some sort of ‘WeCrashed’-like TV series about Peloton — if not ‘The Dropout’ — and I wonder who’s going to write the screenplay first,” Cramer said, referring to the television dramas detailing scandals at WeWork and Theranos, respectively.

Roblox

  • Q1 2022 earnings release after the close; conference call on Wednesday at 8:30 am ET
  • Projected loss: loss of 23 cents per share
  • Projected sales: $659 million

“Fantastic company, bad stock. … We keep it in the penalty box that all things [metaverse] belong in right now,” Cramer said.

RealReal

  • Q1 2022 earnings release after the close; conference call at 5 pm ET
  • Projected loss: loss of 54 cents per share
  • Projected revenue: $136 million

Cramer said he doesn’t understand why the stock is down.

Wednesday: Wendy’s, Rivian

Wendy’s

  • Q1 2022 before the open; conference call at 8:30 am ET
  • Projected EPS: 18 cents
  • Projected revenue: $497 million

Cramer said he’s interested in hearing whether the company is having staffing issues at its restaurants like others in the industry.

Rivian

  • Q1 2022 earnings release after the close; conference call at 5 pm ET
  • Projected loss: loss of $1.41 per share
  • Projected revenue: $133 million

Cramer said he wants to know if Rivian will allow Ford to sell its stake in the electric vehicle maker.

Thursday: Toast, Poshmark

Toast

  • Q1 2022 earnings release after the close; conference call at 5 pm ET
  • Projected loss: loss of 13 cents per share
  • Projected revenue: $487 million

Cramer said that he is “anti-Toast” because there are too many players in the restaurant point-of-sale management space.

Poshmark

  • Q1 2022 earnings release after the close; conference call at 4:45 pm ET
  • Projected loss: loss of 25 cents per share
  • Projected revenue: $87.6 million

Cramer said he’ll tune in to hear about the company, which he said hurt investors who bought its stock.

Disclosure: Cramer’s Charitable Trust owns shares of Ford.


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