Outlook  Shutterstock Tesla (NASDAQ:TSLA) holds a big event next week to showcase its new Model S Plaid, while the tech world will be watching the COMPUTEX show, Facebook's (NASDAQ:FB) developer conference and Taiwan Semiconductor Manufacturing's (NYSE:TSM) annual symposium. Economic reports due out include an update on construction spending, PMI prints and the May jobs report. Investors could be edgy if the jobs report disappoints for a second consecutive month. Despite the shorter four-day trading week for stocks, the crypto world will be buzzing 24/7 and looking to take back some attention from the meme favorites.
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| | 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 Tesla (NASDAQ:TSLA) holds a big event next week to showcase its new Model S Plaid, while the tech world will be watching the COMPUTEX show, Facebook's (NASDAQ:FB) developer conference and Taiwan Semiconductor Manufacturing's (NYSE:TSM) annual symposium. Economic reports due out include an update on construction spending, PMI prints and the May jobs report. Investors could be edgy if the jobs report disappoints for a second consecutive month. Despite the shorter four-day trading week for stocks, the crypto world will be buzzing 24/7 and looking to take back some attention from the meme favorites.
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| Earnings Earnings spotlight: Tuesday, June 1st: Ambarella (NASDAQ:AMBA), Michaels Stores (NASDAQ:MIK), Hewlett Packard Enterprises (NYSE:HPE) and Zoom Video (NASDAQ:ZM).
Earnings spotlight: Wednesday, June 2nd: Advance Auto Parts (NYSE:AAP), NetApp (NASDAQ:NTAP), Splunk (NASDAQ:SPLK) and Cloudera (NYSE:CLDR).
Earnings spotlight: Thursday, June 3rd: Ciena (NYSE:CIEN), DocuSign (NASDAQ:DOCU), Momo (NASDAQ:MOMO), CrowdStrike (NASDAQ:CRWD), Lululemon (NASDAQ:LULU) and Slack (NYSE:WORK).
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| IPOs No new IPO pricings are anticipated. IPO lockup periods are set to expire in the week ahead on Ammo (NASDAQ:POWW), Kinnate Biopharma (NASDAQ:KNTE), 17 Education & Technology Group (NASDAQ:YQ), Silverback Therapeutics (NASDAQ:SBTX), Seer (NASDAQ:SEER) and Sigilon Therapeutics (NASDAQ:SGTX). Companies that will see their analyst quiet periods end include The Honest Co. (NASDAQ:HNST), Five Star Bancorp (NASDAQ:FSBC), Waterdrop (NYSE:WDH), Talaris Therapeutics (NASDAQ:TALS) and Bowman Consulting (NASDAQ:BWMN). | |
| Dividends Projected dividend increases (quarterly): Dividend payouts increases forecast for the week include UnitedHealth Group (NYSE:UNH) to $1.50 from $1.25, NetApp (NTAP) to $0.50 from $0.48, Alexandria Real Estate (NYSE:ARE) to $1.12 from $1.09, Marsh & McLennan (NYSE:MMC) to $0.475 from $0.465, Universal Health Realty (NYSE:UHT) to $0.70 from $0.695. | |
| Automotive Tesla (TSLA) holds an event at the Fremont factory for the Model S Plaid. Elon Musk says the Model S Plaid is the fastest production car ever with 0-to-60 mph speed of under 2 seconds. The automaker has overcome some challenges leading up to debut of the Model S Plaid's deliveries and is expected to make a big push for Q2 deliveries. The model is expected to feature yoke steering, new 21" Arachnid Wheels and design/aerodynamic changes. The range will be around 400 miles depending on the version. Potential competition for the Model S Plaid includes the Porsche Taycan, Audi E-tron, Lucid (NYSE:CCIV) Air and Mercedes EQS.
TrueCar forecasts total new vehicle sales will jump 36% in May from a year ago to 1,509,221 units. This month's seasonally adjusted annualized rate for total light vehicle sales is an estimated 16.2M, recovering nicely from 12.1M SAAR level a year ago. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 1,379,623 units, an increase of 35% from a year ago and an increase of 2% from April 2021, when adjusted for the same number of selling days. May forecast by manufacturer - BMW (BMWW) +15.1% to 37,023 units; Daimler (OTCPK:DDAIF) +22.7% to 25,719 units; Ford (NYSE:F) -16.7% to 164,142 units; General Motors (NYSE:GM) -11.8% to 210,603 units; Honda (NYSE:HMC) +17.1% to 183,278 units; Hyundai (OTC:HYMLF) +7.4% to 86,820 units; Kia (OTC:HYMLF) -6.0% to 65,989 units; Nissan (OTCPK:NSANY) +3.8% to 102,905 units; Stellantis (NYSE:STLA) -2.3% to 162,221 units; Subaru (OTCPK:FUJHY) +11.2% to 68,923 units; Tesla (TSLA) +21.4% to 20.149 units; Toyota (NYSE:TM) +0.6% to 239,453 units; Volkswagen Group (OTCPK:VLKAF) +58.2% to 66,753 units.
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| Events Facebook (FB) will livestream its F8 Developers Conference that includes a keynote address and sessions of interest to developers building out products and service on the platform. Toll Brothers (NYSE:TOL) hosts an Analyst & Investor Day Virtual Event with presentations from the company's CEO, CFO, Co-COOs and leaders from the homebuilding and subsidiary operations. The event will include a discussion on housing market trends. Criteo S.A. (NASDAQ:CRTO) hosts its 2021 Investor Day event with a full lineup of presentations from top management.
The first few days of June could see updates on Macau gross gaming revenue, discount broker DARTs, Class 8 truck orders, firearm background checks and auto sales in the U.S. and China. In addition, Nio (NYSE:NIO) will post its monthly deliveries report and Costco (NASDAQ:COST) will report on May sales.
Conferences rundown: Major conferences running during the week include the Deutsche Bank 11th Annual Global Financial Services Conference, the KeyBanc Capital Markets Industrials and Basic Materials Conference, the Cowen and Company 49th Annual Technology Media and Telecom Conference, the Jefferies Global Healthcare Conference, the William Blair 41st Annual Growth Stock Conference, the Wells Fargo Energy Conference and the Autonomous Strategic Decisions Conference.
Go Deeper: Check out Seeking Alpha's Catalyst Watch for a detailed list of events to watch | |
TOGETHER WITH  Barron's mentions The publication looks at industrial stocks that could benefit from the supply chain shortages, semiconductor scarcity and other bottlenecks in the economy cropping up during the pandemic recovery. The list of recommended stocks includes Caterpillar (NYSE:CAT), Deere (NYSE:DE), Honeywell International (NASDAQ:HON), Old Dominion Freight Line (NASDAQ:ODFL), Oshkosh (NYSE:OSK), Rockwell Automation (NYSE:ROK), Saia (NASDAQ:SAIA),Siemens (OTCPK:SIEGY), Wesco International (NYSE:WCC) and XPO Logistics (NYSE:XPO). From the tech world, Applied Materials (NASDAQ:AMAT) and Lam Research (NASDAQ:LRCX) are called affordable options to play the chip shortage. Meanwhile, Herman Miller (MHLR) is considered a stock that will benefit whether or not people return to offices in mass. Higher margins with the company's consumer sales are expected to offset some margin pressure on the commercial side.
Sources: EDGAR, Bloomberg, CNBC, The Verge, Renaissance Capital | |
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