Outlook  Shutterstock The stock market tries to reset after its worst week since October with even popular stocks like Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) suffering post-earnings declines. The GameStop (NYSE:GME)-Reddit saga and ensuing short squeeze will still be a major story next week, but the Q4 earnings season will keep rolling with Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), Alibaba (NYSE:BABA), Merck (NYSE:MRK) and oils giants BP (NYSE:BP) and Exxon Mobil (NYSE:XOM) some of the notable companies stepping into the earnings confessional. Economic reports due out include updates on durable goods, factory orders and construction spending. At the end of the week, the January jobs report blasts in to turn some of the focus back on some of the underlying issues with the U.S. economy. | | Welcome to Wall Street Brunch, our preview of stock market events for investors to watch during the upcoming week. You can also catch this article a day early by subscribing to the Stocks to Watch account for Saturday morning delivery. |
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| Outlook Shutterstock The stock market tries to reset after its worst week since October with even popular stocks like Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) suffering post-earnings declines. The GameStop (NYSE:GME)-Reddit saga and ensuing short squeeze will still be a major story next week, but the Q4 earnings season will keep rolling with Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), Alibaba (NYSE:BABA), Merck (NYSE:MRK) and oils giants BP (NYSE:BP) and Exxon Mobil (NYSE:XOM) some of the notable companies stepping into the earnings confessional. Economic reports due out include updates on durable goods, factory orders and construction spending. At the end of the week, the January jobs report blasts in to turn some of the focus back on some of the underlying issues with the U.S. economy. | |
| Earnings The calendar in the week ahead features reports from Thermo Fisher (NYSE:TMO), NXP Semiconductors (NASDAQ:NXPI) and Vertex Pharmaceuticals (NASDAQ:VRTX) on February 1; Alibaba (BABA), BP (BP), UPS (NYSE:UPS), Pfizer (NYSE:PFE), Alphabet (NASDAQ:GOOG), Amazon (AMZN), Chipotle (NYSE:CMG), Amgen (NASDAQ:AMGN), Exxon Mobil (XOM) and Electronic Arts (NASDAQ:EA) on February 2; Humana (NYSE:HUM), AbbVie (NYSE:ABBV) eBay (NASDAQ:EBAY), PayPal (NASDAQ:PYPL), MetLife (NYSE:MET), Spotify (NYSE:SPOT) on February 3; Merck (MRK), Penn National Gaming (NASDAQ:PENN), Philip Morris International (NYSE:PM), Snap (NYSE:SNAP), Ford (NYSE:F), Pinterest (NYSE:PINS) and Activision Blizzard (NASDAQ:ATVI) on February 4 as well as Cardinal Health (NYSE:CAH) and Sanofi (NASDAQ:SNY) on February 5. | |
| IPOs IPO pricings set to fire off during the week include Telus International CDA (TIXT), ON24 (ONTF), LoanDepot (LDI), Atotech (ATC) and Evaxion Biotech (EVAX). Across the Atlantic, Dr. Martens will start week two of trading after a successful first day in London. Also next week, IPO lockups expire on Rackspace Technology (NASDAQ:RXT), BigCommerce (NASDAQ:BIGC) and CNS Pharma (NASDAQ:CNSP) on February 2, as well as Freeline Therapeutics (NASDAQ:FRLN), Ibex Holdings (NASDAQ:IBEX), Checkmate Pharmaceuticals (NASDAQ:CMPI) and Olb Group (NASDAQ:OLB) on February 3. Quiet periods end on Cullinan (NASDAQ:CGEM) and Gracell Bio (NASDAQ:GRCL) on February 3 to free up analysts to cover the stocks. One of the most anticipated IPO debuts of the year was pushed back when Roblox postponed its offering after recently raising private funding at a $29.5B valuation. Go Deeper: Dig deeper into next week's expected catalyst events. | |
| Dividends Projected dividend increases (quarterly): Some of the larger dividend changes forecast to be announced next week are Old Dominion Freight Line (NASDAQ:ODFL) to $0.18 from $0.15, Monolithic Power (NASDAQ:MPWR) to $0.60 from $0.50, eBay (EBAY) to $0.18 from $0.16, Walker & Dunlop (NYSE:WD) to $0.40 from $0.36, Exponent (NASDAQ:EXPO) to $0.21 from $0.19, UFP Industries (NASDAQ:UFPI) to $0.1375 from $0.125, Allegion (NYSE:ALLE) to $0.35 from $0.32, Corning (NYSE:GLW) to $0.24 from $0.22, Intercontinental Exchange (NYSE:ICE) to $0.325 from $0.30, Xylem (NYSE:XYL) to $0.28 from $0.26 and Gilead Sciences (NASDAQ:GILD) to $0.73 from $0.68. | |
| Automotive New vehicle sales for the month of January are expected to rise 6.1% from the level a year ago, according to a joint forecast from J.D. Power and LMC Automotive. The firm call the growth in retail sales encouraging, especially as it is being achieved with higher transaction prices and lower incentive levels. "While retail demand remains strong, non-retail sales are still recovering, which is hampering total vehicle sales and SAAR. The primary risk for retail sales pace to stay on a solid pace is said to be supply chain disruption," reads the forecast. Investors have bid up auto stocks on electrification plans/hopes more than raw volume numbers. YTD gainers include Workhorse Group (NASDAQ:WKHS) +67%, Nikola (NASDAQ:NKLA) +52%, Tata Motors (NYSE:TTM) +48%, Kandi Technologies (NASDAQ:KNDI) +31%, Electramecccanica Vehicles (NASDAQ:SOLO) +27%, Lordstown Motors (NASDAQ:RIDE) +26%, General Motors (NYSE:GM) +23% and of course - Tesla (TSLA) +18%. | |
| M&A Mergers expected to close on February 1 include the West Fraser Timber (OTCPK:WFTBF)-Norbord (NYSE:OSB), International Flavors & Fragrances (NYSE:IFF) with DuPont's (NYSE:DD) Nutrition & Biosciences Business and Dime Community Bancshares (NASDAQ:DCOM)-Bridge Bancorp (NASDAQ:BDGE). The go-shop period on the RealPage (NASDAQ:RP) buyout by private equity firm Thoma Bravo expires on February 3. Investors will be listening to the DXC Technology (NYSE:DXC) earnings conference call for an update on the recent approach by Atos (OTCPK:AEXAF) on a takeover. | |
| Events Analyst/investor meetings: Harley-Davidson (NYSE:HOG) will reveal its 2021-2025 strategic plan along with Q4 results on February 2. Nordstrom (NYSE:JWN) hosts a virtual investor event on February 4, during which senior executives will discuss the company's long-term growth strategy, strategic priorities and drivers of value creation. Also on February 4, Texas Instruments (NASDAQ:TXN) holds a capital management update webcast led by CFO Rafael Lizardi. The company is scheduled to update on the strategy to maximize long-term growth of free cash flow per share and review TI's 2020 performance against its stated capital management metrics. Generex Biotechnology Corporation (OTCQB:GNBT) will hold a conference call on February 5 to update investors about the development of the company's Ii-Key complete vaccine against the SARS-CoV-2 coronavirus. See more key events scheduled for the week ahead in Seeking Alpha's Catalyst Watch.
Conferences: The A.G.P. Virtual Emerging Growth Technology Conference on February 4 will feature Rimini Street (NASDAQ:RMNI), DLH Holdings (NASDAQ:DLHC), LightPath Technologies (NASDAQ:LPTH), Voyage Digital (OTCQB:VYGVF) and RADA Electronic (NASDAQ:RADA). The OTC Markets Small and Microcap Investor Conference features up-and-comers like Genprex (NASDAQ:GNPX), BioSig Technologies (OTC:BSGM), Skye Bioscience (OTCPK:SKYE) and VolitionRx (NYSEMKT:VNRX). The BMO Capital Markets 18th Annual Infrastructure & Utilities Conference also runs next week from February 3-4.
Data reports: Reports on discount broker DARTs and Class 8 truck orders will arrive sometime during the week. Nio (NYSE:NIO) will also update on its January deliveries tally.
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| Barron's mentions The publication throws an even brighter spotlight on electric vehicle battery startup QuantumScape (NYSE:QS). A frothy wave of investor exuberance over QuantumScape has made it the highest valued company with annual revenue less than $1M. The leap of faith is that Quantum could be generating roughly $5B in EBITDA by 2030 if things go as some analysts forecast. Some sleeper picks from the latest Barron's Roundtable are ASML Holding (NASDAQ:ASML), Delivery Hero (OTCPK:DLVHF), Yum China (NYSE:YUMC) and Prologis (NYSE:PLD).
Sources: EDGAR, Bloomberg, CNBC, The Verge, Renaissance Capital | |
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