In this article, we will take a detailed look at Jim Cramer is Watching These 9 Stocks Ahead of Earnings and Key Analyst Events. If you want to skip our detailed analysis and see the top 4 stocks in this list, click Jim Cramer is Watching These 4 Stocks Ahead of Earnings and Key Analyst Events.
Jim Cramer yet again voiced his frustration about investors fretting over what the Fed might do, saying we are in a “weird moment” where equities have become “hostage” to Fed and inflation. However, Cramer thinks stocks can be “freed” by the “stealth forces” of technology, referring to how AI could bring “all costs” down in the future. Jim Cramer talked about the recently launch BioHive-2 supercomputer, which was developed by Recursion Pharmaceuticals in collaboration with NVidia. The supercomputer contains NVIDIA DGX SuperPOD AI supercomputer, powered by 63 DGX H100 systems.
Cramer is extremely excited about Recursions supercomputer, as he thinks “maybe” the company could use it to speed up drug discovery.
Cramer said that “every second counts” when you have a patent to protect. He also said the use of AI supercomputer could lead to discoveries of new cures that could beat many “hard-to-cure” diseases.
Last month, when asked about Recursion Pharmaceuticals, Jim Cramer said he was bullish on the company because Nvidia talked “endlessly” about its partnership with this company at the GTC conference.
“I think you have a real winner. The stock went up around the conference and it has come right back down. Recursion is for me.”
Recursion Pharmaceuticals stock has gained about 70% over the past one year.
AI Cannot Solve Housing, Inflation Problems in the Short Term
While Jim Cramer is excited about AI, he said that we are on the “verge” of major changes in society that will still take decades to show their real effects. AI, according to Cramer, cannot solve our key problems like housing, inflation and healthcare costs.
Moving beyond what’s happening at the macro level, Cramer in his latest programs talked regularly about earnings and kept a close watch on important earnings reports from major companies. In this article we will discuss some key earnings stocks Cramer talked about ahead of their earnings. Some top names include:
- Nextracker Inc. (NASDAQ:NXT)
- Dow Inc. (NYSE:DOW)
- Cisco Systems Inc (NASDAQ:CSCO)
- Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)
9. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)
Number of Hedge Fund Investors: 24
Jim Cramer expects Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to cut its dividend this week. He recommended investors to buy the stock in case Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) cuts its payout, a move he admitted is “counter-intuitive.”
Earlier this month, Cramer said that he is “amazed” that Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) stock has “dropped like a rock” and wondered how the company can “cover that dividend.”
Cramer said that he “used to recommend” Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) shares but the stock has been “horrendous” and he’s not looked at it for years as he promised his viewers to get back to them on the stock after analyzing it. Fulfilling his promise, Cramer analyzed Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) in detail the next day, acknowledging Cracker Barrel Old Country Store, Inc.’s (NASDAQ:CBRL) struggles but saying he’s hopeful of a turnaround amid a new CEO and restructuring plans. At that time Cramer told investors to wait until we get clarity on Cracker Barrel Old Country Store, Inc.’s (NASDAQ:CBRL) dividend future.
8. Nextracker Inc. (NASDAQ:NXT)
Number of Hedge Fund Investors: 33
Cramer thinks Nextracker Inc. (NASDAQ:NXT) is a “very cool solar technology company” that makes solar power “more of an all-day, all-year business.”
Jim Cramer is hopeful that Nextracker Inc. (NASDAQ:NXT) CEO Dan Shugar would deliver because he thinks Shugar is a “delivery man.”
As of the end of the fourth quarter of 2023, 33 hedge funds tracked by Insider Monkey had stakes in Nextracker Inc. (NASDAQ:NXT).
7. Dow Inc. (NYSE:DOW)
Number of Hedge Fund Investors: 39
Jim Cramer is watching Dow Inc. (NYSE:DOW) before its analyst meeting on Friday. He praised Dow Inc.’s (NYSE:DOW) dividend and “capital appreciation.”
6. Deere & Co (NYSE:DE)
Number of Hedge Fund Investors: 54
Agricultural machinery company Deere & Co (NYSE:DE) is one of the stocks Jim Cramer is watching ahead of earnings. Cramer said John Deere “looks cheap.”
“But I just don’t know if it matters given the fact the buyers can’t resist owning an industrial with a good brand name. I know it’s counter-intuitive.”
Jim Cramer is staying away from Deere & Co (NYSE:DE). He said his interview with the CEO of AgCo, Deere & Co’s (NYSE:DE) competitor, made him feel “queasy about the whole group.”
Oakmark Fund stated the following regarding Deere & Company (NYSE:DE) in its first quarter 2024 investor letter:
“Deere & Company (NYSE:DE) is a leading manufacturer of agricultural equipment with dominant market share in North America and Brazil. Despite its brand strength, technological capabilities and distribution advantages, the company’s stock price has recently fallen due to fears about a downturn in the agriculture business cycle. Longer term, world population and food demand are expected to increase annually yet land and labor devoted to agriculture are expected to decline. Deere seems well-positioned to benefit from this dynamic as farms will have to become more productive. We were pleased to purchase shares in Deere at a low double-digit multiple of our estimate of normal earnings power.”
5. Cisco Systems Inc (NASDAQ:CSCO)
Number of Hedge Fund Investors: 60
Jim Cramer said it would be “awkward” if Cisco Systems Inc (NASDAQ:CSCO) doesn’t give a “positive forecast” when it reports earnings on Wednesday because Cisco Systems Inc (NASDAQ:CSCO) can “talk about the momentum of Splunk,” which Cisco Systems Inc (NASDAQ:CSCO) bought for $28 billion. Cramer said he likes Splunk.
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