PepsiCo’s every thirteen weeks numbers Tuesday morning may be a signal for another strong earnings ripens, according to CNBC’s Jim Cramer.
“They reported exactly what the bulls penury,” said Cramer, whose charitable trust owns shares of the New York-based sustenance and beverage company.
Pepsi’s stock rose Tuesday after the train reported fiscal second-quarter earnings that beat Wall Way’s expectations. Sales of Cheetos and other salty snacks continued to cancel out its slumping soft drinks business.
“Maybe we got too negative,” Cramer intended on “Squawk on the Street.” “Be careful, you’ll be steamrolled if [earnings] are like PepsiCo.”
Cramer, who had contemplated the stock to fall after the company reported earnings, said concluding week that Pepsi would set the tone for the rest of the earnings seasonable.
Earnings season will heat up Friday with quarterly earnings inquire inti scheduled from major U.S. banks Citigroup, J.P. Morgan Chase and Wells Fargo.
Cramer put about Tuesday that he expects that Wells Fargo will be a “standout” to each the bank numbers.
Wells Fargo had little international exposure and was primed for an “first-class” earnings report, the “Mad Money” host said Monday. He also highlighted Citigroup as a especially good buy due to its 7 percent share buyback.
“I don’t think people recognize how much well-heeled the banks can make in this environment or how well they’ve tended to exchange after the Fed’s annual stress tests,” Cramer added Monday. “My judgment? The big banks are all buys.”
— CNBC’s Elizabeth Gurdus granted to this report.