Jim Cramer’s week ahead: Okta event and earnings take focus
Jim Cramer flagged Okta’s analyst meeting and a short earnings calendar after mixed index moves followed the Fed’s rate increase.
By Maya Okafor · Markets Writer
· 3 min read
Jim Cramer’s week ahead calls for a relatively quiet stretch of corporate events, even as investors work through a September he described as historically difficult. For everyday investors, the calendar centers on a handful of company updates rather than a crowded run of reports, with Okta’s analyst meeting standing out as Cramer’s top event to watch.
The market enters the week after mixed results across major U.S. indexes. CNBC reported that the Federal Reserve raised interest rates by a quarter point on Wednesday and signaled that further tightening could be ahead. The Dow Jones Industrial Average fell 1.7% for the week, while the S&P 500 slipped 0.1% and the Nasdaq Composite gained 0.7%, according to CNBC.
What is Jim Cramer watching in the week ahead?
KB Home is scheduled to report on Tuesday. Cramer said he expects the homebuilder’s results to reflect the difficulties confronting the housing industry as interest rates rise, following comments from Lennar earlier in the prior week.
Wednesday has the busiest slate. Cintas, which rents uniforms, and payroll provider Paychex are both due to report. Cramer said the companies have entered their reports with momentum because of their exposure to small and medium-sized businesses, a part of the economy he characterized as strong and historically able to withstand the start of a monetary-tightening cycle.
General Mills also reports Wednesday. Cramer pointed to higher input costs, GLP-1 weight-loss drugs and pressure on processed foods as challenges for the packaged-food company. His assessment is an opinion, not a company forecast or investment recommendation.
Okta’s Wednesday analyst meeting, rather than an earnings release, is the corporate event Cramer called the week’s most consequential. He said Okta Chief Executive Todd McKinnon had discussed at Salesforce’s Dreamforce conference how the company’s identity-security technology could extend to AI agents. McKinnon said the technology could identify individual agents and track their activity, potentially offering a way to stop malicious AI systems, according to CNBC.
What are Cramer’s concerns about Costco and restaurants?
Darden Restaurants is scheduled to report Thursday. Cramer said the Olive Garden parent could rise on what he viewed as strong execution, though he said he preferred Brinker International, owner of Chili’s, because he sees stronger growth prospects there.
Costco closes the calendar with results due after Thursday’s market close. Cramer said he will be listening for indications that the warehouse retailer is having trouble keeping younger members. CNBC disclosed that Cramer’s Charitable Trust owns Costco shares.
These are Cramer’s views on the companies and the week’s potential catalysts. The confirmed events are the scheduled reports and Okta meeting; their market impact will depend on the information the companies provide.
This story draws on original reporting from CNBC.
