TheStreet's Jim Cramer has been waiting for the March labor report for most of this week. But now that we know the results (and Cramer's way to trade it), what's the co-manager of the Action Alerts PLUS portfolio looking for next week?
Both companies report earnings next week, with Walgreens on Tuesday and Rite Aid on Thursday. And as if the quarterly results weren't important enough, Cramer will also be waiting to hear an update on the companies' merger.
Investors need clarity on how the merger is coming, Cramer said, otherwise it might start to weigh on shares of Walgreens.
Cramer and Research Director Jack Mohr recently trimmed their position in Walgreens, because it had gotten too large for the portfolio.
If investors get clarity on the merger, Walgreens "is going to go much higher, because I think the earnings are going to be quite good," Cramer reasoned.
At the time of publication, Cramer's Action Alerts PLUS had a long position in WBA.