Semiconductor shortage to be in focus yet again

CNBC’s Jim Cramer on Friday looked ahead to next week’s of earnings reports, detailing for investors his key market events to keep an eye on.

The “Mad Money” host’s comments came after all three major U.S. equity indexes closed at record highs Friday, despite disappointing quarterly results a day earlier from market heavyweights Amazon and Apple.

All revenue and per-share earnings projections are based on FactSet estimates:

On Semiconductor

• Q3 results before the bell; conference call at 9 a.m. ET Monday
• Projected EPS: 74 cents
• Projected sales: $1.7 billion

NXP Semiconductors

• Q3 results; conference call at 8 a.m. ET Tuesday
• Projected EPS: $2.75
• Projected sales: $ 2.85 billion

Both companies’ earnings will offer “a read on one of the biggest stories in this market, and that’s the semiconductor shortage,” Cramer said. “They do a lot of auto semis, and they’ve got exposure to many of the others areas where there are the biggest bottlenecks.”

Diamondback Energy

• Q3 results after the close; conference call at 9 a.m. ET Tuesday
• Projected EPS: $2.79
• Projected revenue: $1.54 billion

Clorox

• Q1 2022 results after the bell; conference call at 5:30 p.m. ET Monday
• Projected EPS: $1.03
• Projected revenue: $1.7 billion

“I hope for the best, but I am preparing for the worst,” Cramer said, noting the household products maker may not be able to pass through all of its higher commodity costs, possibly hurting margins.

Estee Lauder

• Q1 2022 results before the open; conference call at 9:30 a.m. ET Tuesday
• Projected EPS: $1.70
• Projected sales: $4.25 billion

DuPont

• Q3 results before the bell; conference call at 8 a.m. ET Tuesday
• Projected EPS: $1.12
• Projected sales: $4.16 billion

Cramer’s charitable trust owns both Estee Lauder and DuPont. “I don’t expect them to have superb quarters. Fortunately, the expectations are low, though, so it won’t take much to produce an upside surprise that moves the stocks up,” he said.

Pfizer

• Q3 results before the open; conference call at 10 a.m. ET
• Projected EPS: $1.08
• Projected revenue: $22.58 billion

“Unlike Moderna, Pfizer’s a lot more complicated than just a Covid vaccine story. See, they’re facing what’s known as a patent cliff next year,” Cramer said. “We need to know if the boosters, which cost a lot of money, … are going to cover the patent cliff.”

BP

• Q3 results before the bell; conference call at 5 a.m. ET Tuesday
• Projected EPS: £ 10.83
• Projected revenue: £29.06 billion

Devon Energy

• Q3 results after the close; conference call at 11 a.m. ET Wednesday
• Projected EPS: 93 cents
• Projected sales: $3.23 billion

T-Mobile

• Q3 results after the close; conference call at 4:30 p.m. ET Tuesday
• Projected EPS: 48 cents
• Projected revenue: $20.22 billion

“The [telecommunications] industry has got a clear pecking order: T-Mobile for growth, Verizon for the dividend, and AT&T for nothing. Let’s see how many subscribers T-Mobile has been able to steal from its rivals when they report,” Cramer sad.

Zillow

• Q3 after the close; conference call at 5 a.m. ET Tuesday
• Projected EPS: 16 cents
• Projected revenue: $2 billion

“They had to put the real estate flipping business on pause because the economics turned out against them, but what does that really mean? We’re going to find out on Tuesday,” Cramer said.

CVS Health

• Q3 results before the bell; conference call at 8 a.m. ET Wednesday
• Projected EPS: $1.79
• Projected revenue: $70.5 billion

“This stock’s been on a roll, bolstered by Covid vaccines and superior execution, at least compared to arch-rival Walgreens. I don’t know if it can continue now that the pandemic’s winding down, but remember that CVS also has a huge health insurance business,” Cramer said.

Humana

• Q3 results before the open; conference call at 9 a.m. ET Wednesday
• Projected EPS: $4.66
• Projected revenue: $20.9 billion

Cramer said he expects the health insurer’s numbers to be even better than rivals Centene and UnitedHealth Group.

Marriott International

• Q3 results before the bell; conference call at 8:30 a.m. ET Wednesday
• Projected EPS: 99 cents
• Projected sales: $3.71 billion

Wynn Resorts

• Q3 results after the close
• Projected EPS: Loss of $1.36
• Projected revenue: $943 million

Cramer said he expects Marriott International to have a better story to tell about the hospitality recovery compared to Wynn Resorts, which his charitable trust owns. He said that’s because of Wynn Resorts’ exposure to the gaming hub of Macau.

Qualcomm

• Q4 results after the close; conference call at 4:45 p.m. ET Wednesday
• Projected EPS: $2.26
• Projected revenue: $8.85 billion

“They’ll give us more insight into the cellphone market, but I bet that can’t be that positive, either,” Cramer said, alluding to the chip crunch.

Etsy

• Q3 results after the close; conference call at 5 p.m. ET Wednesday
• Projected EPS: 55 cents
• Projected revenue: $519 million

“I bet CEO Josh Silverman will have a lot of good to say about his e-commerce platform for handicrafts—should make a nice contrast to Amazon’s disappointing quarter,” Cramer said.

Uber

• Q3 results after the close; conference call 5 p.m. ET Thursday
• Projected EPS: Loss of 34 cents
• Projected revenue: $4.41 billion

“I think Uber can deliver, but the stock’s been kept down by persistent sellers, so even a good quarter might not matter, at least not until these weak hands finish dumping their shares,” Cramer said.

Skyworks Solutions

• Q4 results after the bell; conference call at 4:30 p.m. ET Thursday
• Projected EPS: $2.55
• Projected sales: $1.3 billion

“Maybe they give us some insight into when the chip shortage nightmare can come to an end,” Cramer said.

Peloton

• Q1 2022 results after the close; conference call at 5 p.m. ET Thursday
• Projected EPS: Loss of $1.10
• Projected sales: $809 million

The fitness equipment maker was a major pandemic winner, but the stock has struggled to gain traction since investors shifted toward reopening plays, Cramer said. “I think they’ve got their work cut out for them.”

Square

• Q3 results after the close; conference call at 5 p.m. ET Thursday
• Projected EPS: 37 cents
• Projected revenue: $4.38 billion

“I’m betting their mojo will be absent for now, mojo being a technical term on Wall Street for the massive love a stock gets after a monster beat and raise quarter,” Cramer said.

Enbridge

• Q3 results before the bell; conference call at 9 a.m. ET Friday
• Projected EPS: 57 cents
• Projected revenue: $9.62 billion

Cramer said he likes the company’s dividend payment. “Plus, we have a real shortage of energy infrastructure, so I bet business is good,” Cramer said.

The Labor Department’s report on nonfarm payrolls for the month of October is out at 8:30 a.m. Friday, but Cramer cautioned the recent monthly reports have been “all over the map right now,” making their appearance “seem deceiving.”