Constellation Brands: Alcohol distributor Constellation Brands, a headline regular in 2018 thanks to its investment in cannabis producer Canopy growth, will report earnings on Wednesday.
“This stock has become one of the nastiest out there because of concerns about the slowing sales of Modelo and Corona, … as well as the billions of dollars they borrowed to buy that huge stake in Canopy,” Cramer said. “Constellation’s stock has fallen from $229 to $167 on these sales worries. If they don’t materialize, you know what? $10 gain.”
Homebuilders: Lennar and KB Home also report their quarterly results. Any good news could push their stocks higher thanks to the Fed’s newfound prudence, Cramer said, adding that Home Depot could be a good secondary play to watch.
“I think they’ll try to put a good face on things, but the truth is the homebuilders are a major reason why Powell chose patience over imprudence today,” he said.
Bed Bath & Beyond: Cramer hoped Bed Bath & Beyond’s Wednesday earnings report would offer some consolation as the retailer continues to fall under pressure from Amazon.
“I wish they had a game plan besides buying back stock,” he said, adding that “it’s been the worst buyback in the history” of the stocks he follows.