3M: Tuesday morning marks “the toughest couple of hours in earnings season,” and Cramer is most worried about the report from 3M, the manufacturer of Scotch tape and a host of other consumer, industrial and health-related goods.
On Thursday, Cramer noted that he was considering trimming his charitable trust’s position in 3M ahead of the quarter.
“Unless the company announces some significant changes to its worldwide portfolio, I figure it’s going to guide down again thanks to the weakness in autos,” he said. “It is a shame: 3M’s stock is now down more than 60 points and it still hasn’t been able to attract any substantial buyers.”
Verizon: Cramer expected “another stellar quarter” from telecommunications giant Verizon.
“It’s funny, the stock’s just a buck off its 52-week-high because the story is all domestic with tremendous strength in wireless and a good yield,” he said. “If Verizon comes in at all Monday, just go buy it, please.”
United Technologies: The “Mad Money” host is still waiting for United Technologies to finalize its deal to buy Rockwell Collins, reiterating that “the stock will indeed soar” once the deal is closed.
The only thing missing is the Chinese government’s approval, which has been “elusive” amid the United States and China’s dispute over their trade relationship, Cramer said.
“However, let me put a worrisome thought right into your head right now: Today Honeywell, which is further along in its restructuring, reported what I can only say was a monster good quarter, […] but … someone talked about tariffs on the call and then, boom, next thing you know, the stock is actually down,” Cramer said.
“It’s mighty hard to trust the industrials because of China, and the Fed’s not exactly making it easy, either,” he continued. “Since United Technologies has some housing exposure and some Chinese exposure, [I’ll] pass.”
Caterpillar: Another China-linked industrial, Caterpillar, will issue its earnings report.
“Caterpillar should be terrific, but I doubt anyone will really care,” Cramer said. “Linked to China? Slowing. Linked to construction in this country? Slowing. Linked to mining? Eh.”
McDonald’s: McDonald’s, however, could emulate Procter & Gamble’s “coiled spring” effect when the fast-food chain’s CEO, Steve Easterbrook, talks about a return to growth in the U.S. market, Cramer said.