Jim Cramer on the Markets, Coronavirus, Jobs Report and Costco

Jim Cramer weighs in on the coronavirus, jobs report and Costco.

Author:: Katherine Ross
Publish date:: Mar 6, 2020 9:42 AM EST

Let's talk about the markets.

Jim Cramer has Costco's (COST) - Get Report earnings, the jobs report, and the coronavirus on his mind Friday morning.

An Update on the Coronavirus

Cases worldwide have surpassed 100,000, with over 3,200 deaths.

U.S. cases have surpassed 230, with 12 deaths.

Lawmakers approved a $8.3 billion emergency spending package to halt its advance in the world's biggest economy.

Here's what Cramer is watching now:

Then There's the Jobs Report

While the market didn't blink an eye, the jobs report came in very strong with 273,000. That handily beat the expectations for 175,000.

Costco Earnings

For the quarter ended Feb. 16 the Issaquah, Wash., company earned $2.10 a share, up 4.5% from $2.01 in the year-earlier quarter. Analysts surveyed by FactSet were expecting Costco to earn $2.07 a share.

Second-quarter revenue was $39.07 billion, a 10% increase from $35.4 billion a year earlier. Analysts were looking for $38.21 billion.

And same-store sales grew 8.9%, reflecting rises of 9.1% in the U.S., 8.9% in Canada and 7.9% internationally. Analysts were expecting total growth of 6.8%.

“February sales benefited from an uptick in consumer demand in the fourth week of the reporting period,” Costco said in a press release. “We attribute this to concerns over the coronavirus.”