As Wall Street digests Amazon’s $13.7 billion offer to buy Whole Foods Market, Jim Cramer flagged some key events and reports on the horizon that could further sway the market.
“It’s tough to come back to earth after trying to explore the implications of the most disruptive, most game-changing takeover I can recall, … Amazon’s bid for Whole Foods, but we’ve still got some work to do,” the “Mad Money” host said.
So, with the Amazon-Whole Foods news tabled for the time being, here are the stocks and events on Jim Cramer’s radar next week:
Monday: Paris Air Show
Major aircraft companies tend to reveal their order numbers at this event. Cramer expects Boeing, shares of which hit a fresh all-time high on Friday, to reveal massive orders.
An analyst meeting at United Technologies during the Paris Air Show could determine the direction of that aircraft manufacturer’s stock, Cramer said.
“Greg Hayes, the CEO of United Technologies, will be talking about his fuel-saving engine which he gets very fired up about and I bet he tells a real tremendous story,” the “Mad Money” host said.
Tuesday: General Electric, Lennar, Federal Express
General Electric: An analyst meeting at this conglomerate could update the market on the status of its corporate shake-up, Cramer said.
Lennar: The massive homebuilder will report earnings, and Cramer thinks its numbers could define much of next week’s market activity.
“I hope Lennar can solve some of the conundrum about whether the consumer’s weak, like the bond market says, or strong, like the unemployment rate says,” Cramer said. “We need answers. I bet CEO Stuart Miller will have some great perspective. He always does.”
FedEx: Cramer thinks this company will report a strong quarter when it releases earnings after the bell, but there’s one issue: based on the stock’s recent rally, the rest of the market does, too.
“I’m looking for the company to guide numbers up and talk about its role in the privatization of airports, because if there was ever a company that knows how to run an airport, it’s FedEx. And then, of course, we want to pay close attention to what they have to say about e-commerce, especially after the earth-shaking Amazon-Whole Foods deal,” the “Mad Money” host said.
Wednesday: Adobe Systems, Carmax, Oracle
Adobe: Cramer advised investors to wait until this software giant reports after Wednesday’s closing bell to buy the stock because Adobe’s earnings results tend to bring about selling.
Carmax: With Wall Street questioning the welfare of the auto industry, Cramer thinks this earnings report could bring some clarity to the issue.
“I’m going to listen to the [conference] call, but only to find out the state of the industry, as I, too, am worried about whether autos have become a big drag on the economy and that used cars have lost a lot of their value,” he said.
Oracle: The second computer software name to report on Wednesday, Oracle seems to be benefiting from various industries warming to the cloud, so Cramer expects the company to deliver.
Thursday: Accenture, Bed Bath & Beyond
Accenture: The stock of this professional services firm tends to drop after nearly every earnings report, and Cramer expects this time to be no different.
“Last time, Accenture dropped from $126 to $114 after it reported, and here it is right back to $127,” he said. “Every once in a while, the market really does astounds you with how stupid it is. I think it will astound you again.”
Bed Bath & Beyond: Cramer sees two ways to approach this retail stock’s poor performance ahead of its earnings report. The first is attributing it to Amazon’s retail domination. The second is waiting for it to “pull a Nordstrom” and go private, he said. Either way, Cramer would avoid it altogether.
Friday: BlackBerry, Baker Hughes rig count
BlackBerry: The company reports earnings on Friday, and Cramer has been impressed by the software player’s ability to monetize its intellectual property after discontinuing its namesake smartphones. However, if the stock is still above $10, the “Mad Money” host cannot bless it as a “buy.”
Baker Hughes: This report on the number of oil rigs has sway on the direction of the oil stocks, and Cramer is watching to see if the commodity will bottom at $43 a barrel. That would require both lower inventories and a lower rig count, he said.
“Here’s the bottom line: While we still collectively reel from the most disruptive deal in ages, Amazon getting together with Whole Foods, let’s stay focused on a group of earnings that could decide the direction of the market next week,” Cramer said. “Remember, Adobe and Accenture trade wildly after reporting. That’s where you might get some terrific discounts on some real good merchandise.”
Watch the full segment here: