Earnings Season Highlights

Next week, earnings season kicks into high gear, with over 150 companies in the S&P 500 set to share their quarterly outcomes. Among them are notable names from the tech sector, often referred to as the Magnificent Seven. While Tesla has already reported, and Nvidia’s results won’t be out until November 19, key players like Alphabet, Amazon, Apple, Meta Platforms, and Microsoft are on this week’s agenda. In total, ten companies from the portfolio will disclose their earnings. Here’s what Jim Cramer thinks about each of them:

First up, Corning will report its third-quarter results on Tuesday morning. This specialty glass manufacturer is a recent addition to our portfolio, having taken a small position a few weeks back, which leaves us some room for buying if there’s a dip. Jim anticipates a significant impact on the results due to increased demand for AI in its Optical Communications Enterprise business. “If you don’t already have Corning, you might want to consider getting in before or after the report,” he suggests.

On Wednesday, Boeing will share its third-quarter results. We’ll be particularly interested in how non-cash rates will look for the long-awaited 777x program. The aerospace giant plans to ramp up production of the 737 Max to accommodate more deliveries and improve free cash flow. Jim notes, “If you don’t own a piece of Boeing, it’s not too late to jump in.”

Also on Wednesday, Starbucks will report its fiscal fourth quarter after the market closes. Jim believes this might be the “last tough quarter” for the coffee giant. Under CEO Brian Nicol’s leadership, Starbucks is undergoing a turnaround, a journey Jim feels optimistic about, especially after meeting Nicol last week and discussing future prospects.

Later that night, Meta will also announce its third quarter results. Jim shared that the social media giant has been gaining strong advertising business and “is doing quite a bit right.” Meta stands at the forefront of discussions about which companies could emerge as winners in the AI space now and perhaps in the near future.

Microsoft is slated to report its first quarter results for 2026 after the close on Wednesday. Jim sees positive indicators in their numbers, particularly from the Windows refresh and the strength of their Azure cloud business, suggesting they’re likely to capture more market share.

Thursday brings Bristol-Myers Squibb, who will report third-quarter results before the market opens. Jim has reservations, believing the outcomes may be “underwhelming.” Our investment was based on the potential of Cobenfi, a treatment for schizophrenia, but the latest large-scale clinical trials haven’t yielded positive results. Without encouraging news regarding Cobenfi, we might have to rethink our strategy, especially since Bristol-Myers stock has dipped 22% this year.

Eli Lilly will also report before the market opens on Thursday. Jim mentions that unless there are positive updates regarding GLP-1 drug prices, he doesn’t foresee any upward movement for the makers of Maunjaro and Zepbound, deeming the situation “unfortunate.” However, he does point out, “Lilly is doing quite well.”

Thursday evening, Amazon will disclose its third-quarter results, and Jim suggests it must demonstrate an uptick in its cloud business to bring revenues back to 2021 levels. That would help counter any doubts about the growth prospects of Amazon Web Services. Similarly, Apple’s Thursday evening report has Jim feeling optimistic, as new iPhone models appear to be selling better than expected, with recent positive feedback from analysts driving stock up to intraday highs.

On Friday, Linde will report its third quarter results before trading begins. Jim feels reassured going into this quarter after a positive chat with analysts, describing Linde as “one of the most reliable stocks” in our portfolio.

Investment Callout

As a note, subscribers to Jim Cramer’s CNBC Investment Club will receive trade alerts ahead of any stock transactions. Jim typically waits 45 minutes post-alert before executing trades in his charitable trust’s portfolio. In instances where he discusses stocks on CNBC, he usually holds off for 72 hours following a trade alert before making any moves.