While many investors are focusing on President Trump and what he's doing in his first days in office, others are looking ahead to earnings. After notable earnings from the banks, there's still a slew of other companies left to report.
Arconic CEO Klaus Kleinfeld still wants Alcoa to do well, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange on Monday.
Alcoa is likely to be a "big winner" under the Trump Administration, Cramer said, given the tariffs Trump is likely to slap on Chinese importers. Even the Obama Administration was gearing up for an import tariff or tax because of the dumping these suppliers were doing, Cramer said. The company has also been building plants in the U.S., something that is sure to please President Trump.
Also reporting on Tuesday is Lockheed Martin (LMT) - Get Lockheed Martin Corporation Report . The company is scheduled to release its results before the open. Lockheed and President Trump recently wrangled over the company's cost overruns for the U.S. F-35 fighter jet program. Cramer said the disagreement shouldn't have too much of a negative impact on gross margins, and he believes the earnings results will be "very, very good."
As for 3M (MMM) - Get 3M Company Report , Cramer called it a "remarkable company" and said the stock should be a core portfolio holding. Management has been very consistent, it pays a healthy dividend and it buys back stock, Cramer said. The company may see the stronger U.S. dollar hurt its bottom line, but investors didn't hear any gripes about that from McDonald's (MCD) - Get McDonald's Corporation Report and Procter & Gamble (PG) - Get Procter & Gamble Company Report -- two companies that also suffer from a rising dollar.
Perhaps 3M will be the same, Cramer said. If shares get hit hard after releasing earnings on Tuesday before the open, investors should consider buying the stock.
Finally, Cramer said Texas Instruments (TXN) - Get Texas Instruments Incorporated Report is in the "sweet spot" with its product mix and should continue to churn out good earnings results. The company is scheduled to report after the close on Tuesday and analysts expect the company to earn 82 cents per share on $3.32 billion in sales.
At the time of publication, Cramer's Action Alerts PLUS had position in ARNC.