Jim Cramer Weighs In on Delta and JPMorgan Earnings

Here's what you need to know about Delta and JPMorgan.
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It's already been a news-packed Tuesday for the markets. 

Jim Cramer weighed in on the oil sector and how it's helping to lift the markets and what to expect from the trading session Tuesday, Jan. 15.

Delta's Earnings

Delta Air Lines (DAL) - Get Report released earnings before the bell Tuesday. The airline is Real Money's stock of the day.

TheStreet's London Bureau Chief, Martin Baccardax reported on the earnings.

Delta posted stronger-than-expected fourth quarters Tuesday, but forecast disappoint guidance for the first three months of the year, sending shares lower in pre-market trading.

Delta said earnings for the three months ending in December came in at $1.30 per share, up 42% from the same period last year and 3 cents ahead of the Street consensus. Group revenues, Delta said, rose 7.5% to $10.7 billion, a figure that narrowly missed analysts' forecasts. Delta said it sees first quarter earnings of between 70 and 90 cents a share, however, and an adjusted total revenue per available seat mile, or TRASM, growth rate of 2%, both of which misses market estimates.

"2018 was a successful year for Delta with record operational reliability, increasing customer satisfaction, and solid financial results in the face of higher fuel costs. Delta people are the foundation of our success and I am honored to recognize their efforts with $1.3 billion in profit sharing for 2018," said CEO Ed Bastian. "As we move into 2019, we expect to drive double-digit earnings growth through higher revenues, maintaining a cost trajectory below inflation, and the modest benefit from lower fuel costs. Margin expansion."

Bank Earnings

JPMorgan Chase & Co. (JPM) - Get Report released earnings before the bell Tuesday.

TheStreet's Bradley Keoun broke down the earnings.

JPMorgan, the largest U.S. bank, missed analysts' profit estimates for the first time in four years, as trading revenue fell short of expectations and costs rose for loan-loss reserve, wrote Keoun.

Net income rose 67% to $7.07 billion, benefiting from the 2017 tax cuts and rebounding from a big write-down taken a year earlier, the New York-based bank said Tuesday in a press release. Earnings per share were $1.98, below the average analyst estimate of $2.20 in a FactSet survey.

Net revenue rose 7% from a year earlier to $26.1 billion, JPMorgan said, less than estimated by analysts at the brokerage firm Keefe, Bruyette & Woods. Volatile markets in the fourth quarter took a toll on bond trading and commodities, partially offset by strength in emerging markets, the bank said.

Cramer weighed in on his reaction to bank earnings and JPMorgan CEO Jamie Dimon's comments about the government shutdown. 

JPMorgan Chase is a holding in Jim Cramer's Action Alerts Plus portfolio.