Outlook  Shutterstock The corporate earnings season slows down just a bit, but the conference and event schedule heats up with the Sohn Investment Conference, the Wall Street Journal's Future of Everything and investor updates from companies like Hanesbrands (NYSE:HBI), NortonLifeLock (NASDAQ:NLOK) and Stanley Black & Decker (NYSE:SWK) all on tap. The economic calendar is headlined by April's Consumer Price Index report, which several firms forecast will come in ahead of consensus expectations. That could also throw a brighter spotlight on inflation. "We see near-term volatility in inflation as the economic restart progresses, and believe markets underappreciate potential for medium-term price pressures," warns BlackRock strategists. Finally, there is the implication of Tesla (NASDAQ:TSLA) CEO Elon Musk appearing on Saturday Night Live and what happens to Dogecoin (DOGE-USD) if the cryptocurrency catches some mainstream exposure.
| | 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 corporate earnings season slows down just a bit, but the conference and event schedule heats up with the Sohn Investment Conference, the Wall Street Journal's Future of Everything and investor updates from companies like Hanesbrands (NYSE:HBI), NortonLifeLock (NASDAQ:NLOK) and Stanley Black & Decker (NYSE:SWK) all on tap. The economic calendar is headlined by April's Consumer Price Index report, which several firms forecast will come in ahead of consensus expectations. That could also throw a brighter spotlight on inflation. "We see near-term volatility in inflation as the economic restart progresses, and believe markets underappreciate potential for medium-term price pressures," warns BlackRock strategists. Finally, there is the implication of Tesla (NASDAQ:TSLA) CEO Elon Musk appearing on Saturday Night Live and what happens to Dogecoin (DOGE-USD) if the cryptocurrency catches some mainstream exposure.
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| Earnings Earnings spotlight: Monday, May 10th: Earnings reports are due out from Tyson Foods (NYSE:TSN), J2 Global (NASDAQ:JCOM), Duke Energy (NYSE:DUK), Workhorse Group (NASDAQ:WKHS), Marriott International (NASDAQ:MAR), BioNTech (NASDAQ:BNTX) and Occidental Petroleum (NYSE:OXY).
Earnings spotlight: Tuesday, May 11: ChipMOS Technologies (NASDAQ:IMOS), Electronic Arts (NASDAQ:EA), Unity Software (NYSE:U) and Kinross Gold (NYSE:KGC).
Earnings spotlight: Wednesday, May 12th: Wendy's (NASDAQ:WEN) and Amdocs (NASDAQ:DOX).
Earnings spotlight: Thursday, May 13th: Alibaba (NYSE:BABA), Airbnb (AIRB), Yeti (NYSE:YETI), Disney (NYSE:DIS), Canada Goose (NYSE:GOOS), DoorDash (NYSE:DASH) and XPeng (NYSE:XPEV). | |
| IPOs IPOs expected to start trading next week include Enact Holdings (ACT) and Flora Growth (FLGC) on May 11, as well as SimilarWeb (SMWB) and Global-e Online (GLBE) on May 12. The IPO lock-up period expires on Invo Bioscience (NASDAQ:INVO) on May 12. Notable quiet expirations in the week ahead include AppLovin (NASDAQ:APP), TuSimple (NASDAQ:TSP), Alkami (NASDAQ:ALKT), Karat Packaging (NASDAQ:KRT) and ESports (NASDAQ:EBET). | |
| Dividends Projected dividend increases (quarterly): Expected dividend hikes for next week include Wabash National (NYSE:WNC) to $0.09 from $0.08, iStar (NYSE:STAR) to $0.12 from $0.11, Ashland Global (NYSE:ASH) to $0.30 from $0.275, Northrop Grumman (NYSE:NOC) to $1.57 from $1.43 and Everest Re (NYSE:RE) to $1.60 from $1.55.
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| M&A Adidas (OTCQX:ADDYY) will start taking in the first round of bids for the sale of its Reebok brand. Shareholders with TDY vote on the merger with FLIR on May 13. The deal is expected to be approved and close on May 14. The deadline for a tender offer launch for a Talend (NASDAQ:TLND) buyout is May 14. | |
| Events The FDA action date on the new drug application resubmission for Heron Therapeutics' (NASDAQ:HRTX) HTX-011 arrives on May 12. The FDA action date on the priority review of Apellis Pharmaceuticals' (NASDAQ:APLS) Pegcetacoplan Paroxysmal Nocturnal Hemoglobinuria is May 13. Goldman Sachs is positive on the overall upside for APLS ahead of the FDA decision.
Brunswick (NYSE:BC) holds a virtual investor day on May 10 in a presentation that could have ripple effects across the boating sector. Hanesbrands (HBI) and NortonLifeLock (NLOK) hold investor events on May 11.
The Wall Street Journal's The Future of Everything three-day slate of talks will be one of the more riveting events of the week. Top execs with Salesforce.com (NYSE:CRM), Abbott Laboratories (NYSE:ABT), Facebook (NASDAQ:FB), Mastercard (NYSE:MA), Nordstrom (NYSE:JWN) and Mattel (NASDAQ:MAT) are all due to give forward-looking strategy and product updates. The crypto world will also be watching when SEC Commission Heister Peirce gives a talk on May 11. While she is a supporter of cryptocurrencies, Peirce has warned that the U.S. is falling behind in setting up a rational regulatory framework for the blockchain and cryptocurrency industries.
Conferences rundown: Notable conferences running during the week include the Morgan Stanley eVTOL/Urban Air Mobility Summit, theMoffettNathanson 3rd Annual Payments/Processors/IT Services Summit 2021, the Bank of America Securities Global Healthcare Conference 2021 Oppenheimer 6th Annual Emerging Growth Conference 2021, the Goldman Sachs Industrials and Materials Conference 2021 and the Citi 2021 Global Energy & Utilities Virtual Conference 2021.
Go Deeper: Check out Seeking Alpha's Catalyst Watch for a detailed list of events to watch | |
| Trending Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) are viewed favorably as the companies start to see business levels bounce back. Wedbush Securities notes tough (but necessary) cuts at Lyft helped the company deliver its best EBITDA performance in its history, which is called a great sign of leverage in the model. Driver growth is expected to improve as unemployment and stimulus fade, and as more potential drivers receive their vaccines. Meanwhile, Uber still expects to hit profitability as the company heads into the second half, which could ease some of the concerns over the stock. | |
| Barron's mentions Seagate Technology (NASDAQ:STX) is profiled favorably with the company noted to be thriving with new target markets and rapidly evolving technology. The growing need for mass storage is propelling demand for Seagate's largest drives and execs see other growth opportunities. In the retail sector, the end of the pandemic is expected to lead to a rush of wardrobe refreshes by consumers. Stocks seen benefiting include American Eagle Outfitters (NYSE:AEO), Nike (NYSE:NKE), Revolve Group (NYSE:RVLV) and TJX Companies (NYSE:TJX). A green economy is predicted to lead to a boom for copper. Freeport-McMoRan (NYSE:FCX) is called the top play on the metal and the S&P 500's only major copper stock. Other notable producers are First Quantum Minerals (OTCPK:FQVLF) and Southern Copper (NYSE:SCCO), which is majority owned by Mexican conglomerate Grupo Mexico (OTCPK:GMBXF). The Global X Copper Miners exchange-traded fund (NYSEARCA:COPX) holds mining stocks, while the U.S. Copper Index fund (NYSEARCA:CPER) offers a direct play on the metal through ownership of futures contracts.
Sources: EDGAR, Bloomberg, CNBC, Reuters, Renaissance Capital | |
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