Cramer's 'Mad Money' Recap: Game Plan for Earnings Parade (Final)
NEW YORK (TheStreet) -- Earnings are likely to be terrific next week, Jim Cramer advised his "Mad Money" TV show viewers Friday. But even if they are, Cramer still told viewers to use caution and only buy after they've had time to digest the conference calls. He reminded them that the headlines are often wrong when it comes to corporate earnings, and the devil is always in the details.
That's why on Monday, Cramer said he'll be listening to the conference call of Citigroup (C) to see if that beleaguered bank has anything to say in the way of a dividend, a buyback or anything positive for shareholders. If not, look for the entire banking sector to be weak, he said.
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Tuesday brings earnings from Goldman Sachs (GS) , Johnson & Johnson (JNJ) , Coca-Cola (KO) , IBM (IBM) and Intel (INTC) . Cramer was bearish on Goldman and Johnson & Johnson, but expected Coke, IBM and Intel to all have bullish things to say.
For Wednesday, Cramer said to buy Qualcomm (QCOM) on weakness and also American Express (AXP) , a stock he owns for his charitable trust Action Alerts PLUS. American Express always trades lower after earnings, he noted, which is a great time to buy.
Then on Thursday, it's time for Morgan Stanley (MS) , Bank of America (BAC) and Microsoft (MSFT) . Cramer said he'd be a buyer of Morgan Stanley if the Spanish bond auction takes the market down. He wasn't excited about Bank of America, but did express interest in Microsoft on a pullback.