Outlook  Shutterstock On tap for next week, investors will continue to size up improving economic data and the steady decline in COVID-19 cases and vaccinations, while the Q4 earnings season continues with big reports due out from Home Depot (NYSE:HD), Lowe's (NYSE:LOW), Nvidia (NASDAQ:NVDA) and Wayfair (NYSE:W). Investor events being hosted by Spotify (NYSE:SPOT), Twitter (NYSE:TWTR), Snap (NYSE:SNAP), ViacomCBS (NASDAQ:VIAC), Hasbro (NASDAQ:HAS) and Mattel (NASDAQ:MAT) will also be of high interest. Meanwhile, Federal Reserve Chairman Jerome Powell will deliver his semi-annual testimony to the Senate Banking Committee and the House Financial Services Committee.
| | 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 On tap for next week, investors will continue to size up improving economic data and the steady decline in COVID-19 cases and vaccinations, while the Q4 earnings season continues with big reports due out from Home Depot (NYSE:HD), Lowe's (NYSE:LOW), Nvidia (NASDAQ:NVDA) and Wayfair (NYSE:W). Investor events being hosted by Spotify (NYSE:SPOT), Twitter (NYSE:TWTR), Snap (NYSE:SNAP), ViacomCBS (NASDAQ:VIAC), Hasbro (NASDAQ:HAS) and Mattel (NASDAQ:MAT) will also be of high interest. Meanwhile, Federal Reserve Chairman Jerome Powell will deliver his semi-annual testimony to the Senate Banking Committee and the House Financial Services Committee.
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| Earnings Discovery Communications (NASDAQ:DISCA), Occidental Petroleum (NYSE:OXY) and Palo Alto Networks (NYSE:PANW) on February 22; Home Depot, Macy's (NYSE:M), Square (NYSE:SQ), Toll Brothers (NYSE:TOL), MercadoLibre (NASDAQ:MELI) and McAfee (NASDAQ:MCFE); Lowe's , Royal Bank of Canada (NYSE:RY), TJX Companies (NYSE:TJX), Tenneco (NYSE:TEN), (VIAC), L Brands (NYSE:LB) and Nvidia (NVDA) on February 24; Vipshop Holdings (NYSE:VIPS), Best Buy (NYSE:BBY), Anheuser-Busch InBev (NYSE:BUD), Wayfair and Keurig Dr Pepper (NASDAQ:KDP) on February 25 and Dell Technologies (NYSE:DELL), HP Inc. (NYSE:HPQ), Salesforce.com (NYSE:CRM), Rocket Companies (NYSE:RKT) and VMware (NYSE:VMW) on February 26.
Nvidia (NVDA) reports earnings with analysts expecting the company to report revenue of $4.8B and EPS of $2.80. Nvidia has topped revenue estimates 10 of the last 12 quarters and beat profit estimates in 11 of the last 12 quarters. Earnings day arrives with a big focus on the chip supply chain from investors amid the rapid growth in 5G and self-driving car tech. Technical traders are also positive on the setup for NVDA. TradingAnalysis.com founder Todd Gordon thinks if Nvidia shares clear $600, there may not be resistance until about $1,000. On the fundamental side, Oppenheimer sees upside to the consensus marks on Nvidia for FQ4 and FQ1. The firm says the long-term AI-driven structural growth/GM thesis is still intact.
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| IPOs No IPOs are scheduled to price. Quiet periods expire in the week ahead for Ortho Clinical Diagnostics (NASDAQ:OCDX), Shoals Technologies Group (NASDAQ:SHLS), Vinci Partners (NASDAQ:VINP), Qualtrics (NASDAQ:XM), ZIM Integrated Shipping (NYSE:ZIM), Home Point Capital (NASDAQ:HMPT) and Trinity Capital (OTCQX:TRIN). The IPO lockup period on JFrog (NASDAQ:FROG) expires on February 22, as well as on both Montrose Environmental Group (NYSE:MEG) and Xpeng Motors (NYSE:XPEV) on February 23. | |
| Dividends Projected dividend increases (quarterly): The list of notable dividend increases anticipated to be announced next week includes SBA Communications (NASDAQ:SBAC) to $0.56 from $0.465, Domino's Pizza (NYSE:DPZ) to $0.93 from $0.78, LeMaitre Vascular (NASDAQ:LMAT) to $0.105 from $0.095, Assured Guaranty (NYSE:AGO) to $0.22 from $0.20, Home Depot (HD) tp $1.65 from $1.50, Sempra Energy (NYSE:SRE) to $1.14 from $1.045, Thermo Fisher (NYSE:TMO) to $0.24 from $0.22, Silgan (NASDAQ:SLGN) to $0.13 from $0.12, Verisk Analytics (NASDAQ:VRSK) to $0.29 from $0.27, Amerisafe (NASDAQ:AMSF) to $0.29 from $0.27 and Southwest Gas (NYSE:SWX) to $0.61 from $0.57. | |
| M&A Golar LNG Partners (NASDAQ:GMLP) shareholders vote on February 24 on the buyout from New Fortress Energy (NASDAQ:NFE). TC PipeLines (NYSE:TCP) shareholders vote on the buyout from TC Energy Corporation (NYSE:TRP) on February 26. | |
| Trending McDonald's (NYSE:MCD) looks for a Q1 sales boost with the introduction of its new crispy chicken sandwich in three varieties at competitive prices. Early reviews and buzz will be crucial for the new menu addition. Early estimates from Credit Suisse forecast that MCD will triple chicken sandwich sales on a daily basis in the early going. Popeyes (NYSE:QSR) sparked the chicken wars in 2019 with its incredibly popular chicken sandwich launch. In response, new chicken sandwiches have been released by Chick-fil-A, KFC, Burger King and Boston Market as well. | |
| Events The end of the New York Toy Fair leads to big investor events for Mattel and Hasbro. Mattel will provide a strategic update on February 24 as part of its virtual analyst day event. Look for execs to highlight the efforts and progress Mattel has made in its efforts to become an IP-driven toy company. Mattel could outline more details on the live-action films it is developing with major studios like Sony, Disney, Warner Brothers and Paramount, as well as animated programming on Netflix. Hasbro holds its annual Investor Event on February 25 with top execs and senior leaders from the company's consumer products, entertainment and Wizards of the Coast businesses presenting. CEO Brian Goldner said upcoming projects will be announced at the event.
Spotify Technology is hosting a virtual event on February 22 called Stream On that will cover the latest on the state of global audio streaming and the company's commitment to empowering creators around the world. Later in the day, top Spotify execs will be hosting an investor discussion and Q&A related to the Stream On event. On February 23, Hyundai Motor Company (OTCPK:HYMLF) will official unveil its IONIQ 5 BEV model, which will feature the Electric-Global Modular Platform. Also on February 23, Snap is scheduled to host its first-ever virtual investor day to walk investors through its product, business and community opportunities for the future. Twitter (TWTR) is set to hold its virtual Analyst Day on February 25 with shares close to their all-time high.
ViacomCBS will open the virtual doors to its event to highlight the new Paramount Plus streaming service. The media giant is releasing Paramount Plus on March 4 to be the revamped update of CBS All Access. Paramount Plus will include live news and sports content, as well as on-demand programming from CBS, MTV, BET, Comedy Central and other ViacomCBS channels and brands. The service will also include access to the vast content slate from Paramount Pictures studio. While the streaming field is getting crowded, investors can bet on the broad streaming theme through the Roundhill Streaming Services & Technology ETF (NYSEARCA:SUBZ).
Conferences: Conferences in the week ahead include the KeyBanc Capital Markets Virtual Emerging Technology Summit, the Baird Sustainability Conference, the SVB Leerink Global Healthcare Conference, the Truist Consumer Symposium, the KBW Payments FinTech Conference, the Oddo Seydler Bank Small & Mid Cap Conference, the Credit Suisse Financial Services Forum and the Citigroup Healthcare Services, Medtech, Tools, & HCIT Virtual Conference. Go Deeper: Check out Seeking Alpha's Catalyst Watch for a detailed list of events to watch | |
| Barron's mentions Oracle (NYSE:ORCL) makes the cover this week and is profiled favorably. The company is said to be the new giant in cloud computing and a buy recommendation is fired off with valuation at 14X for the May 2021 fiscal year vs. the 23X PE handle for the S&P 500 index. Six companies are singled out as potential beneficiaries from efforts in the U.S. to prevent another Texas crisis. General Electric (NYSE:GE), Eaton (NYSE:ETN), Generac Holdings (NYSE:GNRC), Hess (NYSE:HES), PBF Energy (NYSE:PBF) and Northern Oil & Gas (NYSEMKT:NOG) make the 'restoring power' list. The publication thinks Warren Buffett's coming letter to shareholders offers an opportunity to explain how Berkshire Hathaway (NYSE:BRK.A) can adapt to new realities. Could a dividend from Berkshire stoke investor excitement?
Sources: EDGAR, Bloomberg, CNBC, The Verge, Renaissance Capital | |
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