Outlook  Shutterstock The retail sector moves into the spotlight with Walmart (NYSE:WMT), Target (NYSE:TGT), Home Depot (NYSE:HD), Lowe's (NYSE:LOW) and Macy's (NYSE:M) all taking their turn in the earnings confessional in the week ahead. The economic calendar includes updates on the Empire State Index, the NAHB Housing Market Index, housing starts, leading indicators, PMI prints and the FOMC Minutes release. On the legal front, Apple (NASDAQ:AAPL) shifts into defense mode in the trial against Epic Games. Topping it all off, look for some electrifying stuff from Ford (NYSE:F) when it holds an event to show off the all-electric F-150.
| | Welcome to Wall Street Breakfast, 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 retail sector moves into the spotlight with Walmart (NYSE:WMT), Target (NYSE:TGT), Home Depot (NYSE:HD), Lowe's (NYSE:LOW) and Macy's (NYSE:M) all taking their turn in the earnings confessional in the week ahead. The economic calendar includes updates on the Empire State Index, the NAHB Housing Market Index, housing starts, leading indicators, PMI prints and the FOMC Minutes release. On the legal front, Apple (NASDAQ:AAPL) shifts into defense mode in the trial against Epic Games. Topping it all off, look for some electrifying stuff from Ford (NYSE:F) when it holds an event to show off the all-electric F-150.
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| Earnings Earnings spotlight: Monday, May 17th: Earnings reports are due out from Hostess Brands (NASDAQ:TWNK), Lordstown Motors (NASDAQ:RIDE) and Tencent Music (NYSE:TME).
Earnings spotlight: Tuesday, May 18th: Walmart (WMT), Home Depot (HD), Macy's (M) Baidu (NASDAQ:BIDU) and Take-Two Interactive (NASDAQ:TTWO).
Earnings spotlight: Wednesday, May 19th: JD.com (NASDAQ:JD), Lowe's (LOW), Target (TGT), TJX Companies (NYSE:TJX), L Brands (NYSE:LB), Analog Devices (NASDAQ:ADI) and Cisco (NASDAQ:CSCO).
Earnings spotlight: Thursday, May 20th: Kohl's (NYSE:KSS), Ralph Lauren (NYSE:RL), Ross Stores (NASDAQ:ROST), Petco Health and Wellness (NASDAQ:WOOF), Applied Materials (NASDAQ:AMAT) and Hewlett Packard Enterprises (NYSE:HPE).
Earnings spotlight: Friday, May 21st: Deere (NYSE:DE) and Foot Locker (NYSE:FL).
Target (TGT) is attracting a lot of attention ahead of its earnings report. Deutsche Bank named Target a top idea into the earnings print and UBS is predicting a resounding earnings beat. Target laps some easy compares in the apparel and home furnishing categories for the quarter and is likely to have seen a stimulus boost. Watch the earnings call for commentary on inflation and wage pressures.
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| IPOs Squarespace (SQSP) is expected to start trading on May 19, while Oatly (OTLY) and Procure Technologies (PCOR) are lined up to debut on May 20. Analyst quiet periods expire on UiPath (NYSE:PATH), Skywater (NASDAQ:SKYT), DoubleVerify (NYSE:DV), Zymergen (NASDAQ:ZY), NeuroPace (NASDAQ:NPCE) and KnowBe4 (NASDAQ:KNBE) on May 17. The logistics arm of Chinese e-commerce giant JD.com will start marketing its Hong Kong IPO to retail investors next week. The JD Logistics IPO is expected to be the second largest deal on the Hong Kong Stock Exchange this year.
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| Dividends Projected dividend increases (quarterly): Companies projected to boost their dividend payouts include Vishay Intertech (NYSE:VSH) to $0.105 from $0.095, Monro (NASDAQ:MNRO) to $0.24 from $0.22, Lennox (NYSE:LII) to $0.84 from $0.77, Ashland Global (NYSE:ASH) to $0.30 from $0.275, Northrop Grumman (NYSE:NOC) to $1.57 from $1.45, Medtronic (NYSE:MDT) to $0.62 from $0.58, Clorox (NYSE:CLX) to $1.16 from $1.11 and Chubb (NYSE:CB) to $0.80 from $0.78. | |
| M&A The Aegion (NASDAQ:AEGN) buyout by New Mountain deal is expected to close on May 17. Shaw Communications (NYSE:SJR) shareholders vote on the proposed acquisition by Rogers Communications (NYSE:RCI) on May 18. | |
| Events FDA action dates are on tap this week for Sanofi's (NASDAQ:SNY) for Avalglucosidase alfa for Pompe disease, Bristol-Myers Squibb's (NYSE:BMY) CM-577 - Opdivo for esophageal or gastroesophageal junction cancer and Roche's (OTCQX:RHHBY) Esbriet for unclassifiable interstitial lung disease.
Ford (F) hosts an event to reveal the all-electric F-150 Lightning. The automaker says the F-150 Lightning will bring stunning innovation, technologies and capabilities to the popular F-Series, without sacrificing power, payload and towing capability. Production of the F-150 Lightning begins next spring at the company's Ford Rouge Electric Vehicle Center.
Google's (NASDAQ:GOOG) three-day I/O Conference for developers could include some hints about new services and products. Investor events are scheduled during the week for Alliance Data Systems (NYSE:ADS), Inovalon (NASDAQ:INOV), JELD-WEN (NYSE:JELD), Raytheon Technologies (NYSE:RTX), Valmont Industries (NYSE:VMI) and Fortive (NYSE:FTV). Keep an eye on all those names for potential guidance updates or analysts revisions based off the commentary.
Conferences rundown: A huge week of conference includes the Bank of America Global Metals, Mining and Steel Conference, the Needham 16th Annual Technology & Media Conference, the RBC Capital Markets Automotive, Industrials and Transportation Conference, the RBC Capital Markets Global Healthcare Conference, the Berenberg Conference USA, the BMO Capital Markets 16th Annual Farm to Market Conference, the JPMorgan 14th Annual Homebuilding and Building Products Conference, the Goldman Sachs Global Staples Forum and the Wells Fargo Financial Services Investor Conference.
Go Deeper: Check out Seeking Alpha's Catalyst Watch for a detailed list of events to watch | |
| Trending Cybersecurity is firmly back on the radar after a high profile hacking incident disrupted the gas supply in the Southeast part of the U.S. The continued shift of data and endpoints to the cloud for enterprise and federal/state IT infrastructure is expected to provide a growth catalyst for the cyber security industry over the next 12 to 18 months as threats continue to proliferate. Wedbush Securities identifies cyber security vendors like Fortinet (NASDAQ:FTNT), Sailpoint (NYSE:SAIL), Crowdstrike (NASDAQ:CRWD) Tenable (NASDAQ:TENB), Varonis (NASDAQ:VRNS), Zscaler (NASDAQ:ZS) and Palo Alto (NYSE:PANW) as positioned to benefit due to the specific concerns on the nature of the attack vector. "We believe there is a $200 billion growth opportunity in cloud security alone up for grabs over the next few years for those vendors that have the solution sets to protect critical cloud deployments from growing threats/attacks," notes analyst Dan Ives. | |
| Barron's mentions Inflation is the cover story this week as the publication point to the 17% jump in existing home prices and pain for say grocery shoppers, manufacturers and retailers. Publicly-traded companies are also feeling pressure as they look for workers. Domino's Pizza (NYSE:DPZ) is noted to be offering some delivery drivers $1K to sign on plus $25 an hour, while FedEx (NYSE:FDX) and Cardinal Health (NYSE:CAH) are paying $500 sign-on bonuses. Those higher wages are expected to pinch margins across sectors. As far as stock recommendations go, Whirlpool (NYSE:WHR) is called the way to play demand for home appliances and shares of Realogy (NYSE:RLGY) are called cheap as housing recovers.
Sources: EDGAR, Bloomberg, CNBC, The Verge, Renaissance Capital | |
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