Healthcare watch: FDA action dates arrive on Incyte (NASDAQ:INCY) for Retifanlimab, Ascendis Pharma (NASDAQ:ASND) for TransCon hGH and AbbVie (NYSE:ABBV) for upadacitinib. At the end of the week, a large number of biotechs companies start presenting posters and abstracts at the International Liver Congress 2021.
Projected dividend increases (quarterly): Companies expected to boost their dividend payouts include Kroger (NYSE:KR) to $0.20 from $0.18, PennyMac Mortgage (NYSE:PMT) to $0.51 from $0.47 and Matson (NYSE:MATX) to $0.24 from $0.23.
Nike earnings preview: Analysts expect Nike (NKE) to report revenue of $11.12B and EPS of $0.51. Headwinds in China for Nike could weigh on the FY22 guidance that is expected to be introduced by the global athletic footwear and apparel giant. Other areas of focus for investors will be trends in North America and updates on product innovation. Shares of Nike are down 8.9% YTD.
Shipping on display: Marine Money Week takes place with a combination of factors contributing to strong rallies across the shipping sector. Many of the big players are scheduled to discuss the pricing boom in the dry bulk market and the compelling setup for tankers in the second half. Participants include EuroDry (NASDAQ:EDRY), Safe Bulkers (NYSE:SB), Seanergy Maritime Holdings (NASDAQ:SHIP), Kirby Corporation (NYSE:KEX), International Seaways (NYSE:INSW), Teekay Tankers (NYSE:TNK), Golar LNG (NASDAQ:GLNG) and Grindrod Shipping (NASDAQ:GRIN). 29 of the 30 publicly-traded shipping stocks have positive gains for the year, with 14 of those stocks more than doubling in value.
Amazon Prime Day: Amazon's (AMZN) annual shopping extravaganza is scheduled for June 21-22. The e-commerce juggernaut promises more than two million deals over 48 hours. The company is highlighting deals from Under Armour (NYSE:UAA), Mattel (NASDAQ:MAT) and Columbia Sportswear (NASDAQ:COLM) - as well as making a strong push for pet food sales in a development Chewy (NYSE:CHWY) shareholders may want to watch. Big box retailers like Target (NYSE:TGT), Walmart (NYSE:WMT) and Best Buy (NYSE:BBY) will also be running competing deals in an effort to hold market share. Telsey Advisory Group forecasts Prime Day sales of $11B to $12B with Amazon seen benefiting from a favorable macro environment, strong discretionary demand, a larger global Prime member base, wider product assortment and an increase in participation by small businesses.
Eyes on Lordstown: Lordstown Motors (NASDAQ:RIDE) is scheduled to hold five days of media events around Lordstown Week. The company will show off its factory, prototype pickup trucks and hold meetings with shareholders, suppliers and customers. The key focus from investors will be on potential buyers and expectations on the production
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