| | 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. Outlook  Shutterstock The earnings season heats up in a big way next week with IBM (NYSE:IBM), Netflix (NASDAQ:NFLX), Chipotle (NYSE:CMG), Coca-Cola (NYSE:KO) and Twitter (NYSE:TWTR) just a few of the major companies due to spill numbers. Economic reports due out include updates on housing starts, construction data, existing home sales and the latest round of PMI numbers. Meanwhile, the event calendar features a show-and-tell from L Brands (NYSE:LB) ahead of the split of the Victoria's Secret and Bath & Body Works businesses. Cryptocurrency investors will be watching several Bitcoin conferences and all eyes in the electric vehicle sector will be on the splashy trading debut of Lucid Motors. | | Earnings Earnings spotlight: Monday, July 19th: AutoNation (NYSE:AN) and IBM (IBM).
Earnings spotlight: Tuesday, July 20th: Travelers (NYSE:TRV), UBS (NYSE:UBS), Philip Morris International (NYSE:PM), Travelers (TRV), United Airlines (NASDAQ:UAL), Chipotle (CMG) and Netflix (NFLX).
Earnings spotlight: Wednesday, July 21st: Verizon (NYSE:VZ), Johnson & Johnson (NYSE:JNJ), Coca-Cola (KO), Texas Instruments (NASDAQ:TXN) and Kinder Morgan (NYSE:KMI).
Earnings spotlight: Thursday, July 22nd: AT&T (NYSE:T), Dow (NYSE:DOW), Abbott Labs (NYSE:ABT), American Airlines (NASDAQ:AAL), Intel (NASDAQ:INTC), Twitter (TWTR), Snap (NYSE:SNAP), VeriSign (NASDAQ:VRSN), Domino's Pizza (NYSE:DPZ) and Las Vegas Sands (NYSE:LVS).
Earnings spotlight: Friday, July 23rd: American Express (NYSE:AXP), Honeywell (NASDAQ:HON) and Kimberly-Clark (NYSE:KMB).
| | Sponsored By BlockFi  Bitcoin was the best-performing asset of the decade, but not without its volatility. Instead of trying to time the market, crypto-curious investors now have a simpler alternative to gain Bitcoin exposure: earn it. The BlockFi Bitcoin Rewards Credit Card lets you earn 1.5% back in Bitcoin on every purchase. There are no fees* and you earn daily interest in crypto on your Bitcoin rewards. What about other cryptos? With Flex Interest Payments, you can get interest paid on your Bitcoin rewards in another crypto of your choice such as Ethereum, Litecoin, ChainLink, USD-backed stablecoins, and more. Start application*Terms Apply | | IPOs IPO watch: A very busy week is on tap for IPOs. Look for public debuts for Paycor HCM ( PYCR), Vtex ( VTEX), CS Disco ( LAW) Kaltura ( KLTR), Gambling Group ( GAMB), Ryan Specialty Group ( RYAN), Instructure ( INST), Zenvia (NASDAQ: ZENV), Couchbase ( BASE), Zevia ( ZVIA) and Outbrain ( OB). IPO lockup periods expire on MYT Netherlands (NYSE: MYTE), Dream Finders Homes (NASDAQ: DFH), RLX Technology (NYSE: RLX), Patria Investments (NASDAQ: PAX), Montauk Renewables (NASDAQ: MNTK) and Huadi International Group (NASDAQ: HUDI). The most notable quiet period expiration of the week may be for Chinese EV truck maker Full Truck Alliance (NYSE: YMM). | | M&A M&A tidbits: Shareholders with Enterprise Financial Services (NASDAQ: EFSC) vote on the merger with First Choice Bancorp (NASDAQ: FCBP) on July 20. The walk date on the Maxim Integrated (NASDAQ: MXIM)-Analog Devices (NASDAQ: ADI) deal is July 21. The HSR deadline on the Stamps.com (NASDAQ: STMP) go-private deal also arrives next week. | | Healthcare Healthcare watch: Catalyst Biosciences(NASDAQ:CBIO) is due to make poster presentations on marzaptacog alfa at the upcoming International Society on Thrombosis and Haemostatis Virtual Congress. The FDA action date arrives on Albireo Pharma's (NASDAQ:ALBO) odevixibat for Progressive familial intrahepatic cholestasis. The company is hoping for a launch in the second half of the year. The two-day Disease Prevention Control Summit 2021 begins with talks from FDA, CDC, World Health Organization officials as well as execs with Pfizer (NYSE:PFE), Adaptive Biotechnologies (NASDAQ:ADPT), Moderna (NASDAQ:MRNA) and Redhill Biopharma (NASDAQ:RDHL). | | Dividends Projected dividend increases (quarterly): A number of banks are expected to boost their dividend payouts next week. Projected dividend rates are forecast for Bank of America (NYSE:BAC) to $0.21 from $0.18, Northern Trust (NASDAQ:NTRS) to $0.75 from $0.70, Discover Financial (NYSE:DFS) to $0.47 from $0.44, Huntington Bancshares (NASDAQ:HBAN) to $0.16 from $0.15 and Comerica (NYSE:CMA) to $0.72 from $0.68.
L Brands split: L Brands (LB) hosts a virtual investor meeting covering growth plans and strategies for Bath & Body Works and Victoria's Secret & Co. in advance of the planned separation of the two companies in August. JPMorgan is constructive on L Brands (LB) ahead of the event on the expectation that investor interest in the stock will increase before the split.
| | Analysis Netflix earnings preview: Netflix (NFLX) is due to report earnings on July 20 with investors and analysts expected to have a sharper focus on the content schedule than the actual Q2 tallies. Into the report, Morgan Stanley highlights some risks for Netflix with Q2 and Q3 estimates due to a reopening consumer and the lingering effects of 2020 production delays, but reiterates an Overweight rating based on a positive view of the long-term path for the streamer. JPMorgan is also confident on Netflix and what it calls its strongest 6-month content slate ever. Fear Street and Money Heist are expected to be released by Netflix in Q3 and Cobra Kai and The Witcher in Q4. New seasons of Stranger Things, Ozark, The Crown and Bridgerton are anticipated in 2022. "Netflix remains the most used service, and we believe its breadth of originals supports long-term pricing power, notes KeyBanc Capital Markets analyst Justin Patterson on the content upside. | | Events Chicago Auto Show: The Chicago Auto Show runs all weekend. The event at the downtown Chicago McCormick Place Convention Center is the first major auto show since the pandemic. Ford (NYSE:F) is showing off its electric F-150 Lightning and Mach-E, while other model introductions include the 2022 Jeep Compass, 2022 Volkswagen Golf GTI/R and Nissan (OTCPK:NSANY) Z Proto. Some of the automakers are allowing test drives of the featured models.
Lucid steps out: Churchill Capital Corp IV (NYSE:CCIV) holds a special shareholder meeting to vote on the business combination with Lucid Motors (LUCIDM). The anticipated closing date for the business combination is July 23. The post-combination company will be renamed Lucid Group and trade on Nasdaq under the ticker symbol LCID. "Lucid has exceeded our expectations since announcing the merger at the end of February and is set to become a leading US technology and sustainable mobility company. We believe Lucid will take EVs to the next level with its proprietary technology and will provide attractive opportunities for Churchill investors," says Churchill Capital IV CEO Michael Klein. The Lucid Air Dream Edition is fully reserved and the company is on track for production and deliveries in the second half of 2021.
Spotlight on Bitcoin: A number of events during the week will focus on Bitcoin (BTC-USD). ARK Invest is co-hosting a Bitcoin-focused initiative called the B Word that aims to demystify and destigmatize mainstream narratives about Bitcoin. The B Word event will feature live interviews with ARK Invest's Cathie Wood and Square's (NYSE:SQ) Jack Dorsey, as well as presentations from Lyn Alden (Lyn Alden Investment Strategy), Adam Back (Blockstream), Nic Carter (Castle Island Ventures), Michael Morrell (Beacon Global Strategies), Dr. Neha Narula (MIT Digital Currency Initiative), John Newbery (Brink), Anthony Pompliano (Pomp Investments) and more. The two-day REDeFiNE Tomorrow 2021 event focuses on various investment trends in digital assets. Riot Blockchain (NASDAQ:RIOT) CEO Jason Les is one of the speakers at a Bitcoin Mining event aimed at financial professionals.
Corporate events: The Electronic Arts (NASDAQ:EA) EA Play Live event launches. The company has tipped off that new gameplay reveals will be part of the focus. Charles Schwab Corporation (NYSE:SCHW) holds its Summer Business Update call on July 22. On the same day, Mercedes-Benz hosts a strategy update event focused on e-mobility. The event could feature updates on the timing of the electrification of certain Mercedes models. Check out Seeking Alpha's Catalyst Watch for a detailed list of specific events to watch.
Notable annual meetings: Constellation Brands (NYSE:STZ) on July 20. Genesco (NYSE:GCO) also a shareholder meeting on July 20 amid a proxy fight with Legion Partners on board nominees.
Stock splits: The Ashford Hospitality Trust (NYSE:AHT) 1-for-10 stock split becomes effective on July 19. The Nvidia (NASDAQ:NVDA) 4-for-1 stock split and Shoe Carnival (NASDAQ:SCVL) 2-for-1 split also become effective next week.
| | Stocks Barron's mentions: Academy Sports and Outdoors (NASDAQ:ASO) is profiled favorably after delivering three straight quarters of better-than-expected sales and profits. Valuation on ASO is called at 9X forward earnings, even after shares gained 75% in 2021 already. SAP SE (NYSE:SAP) is also seen as an attractive investment. Shares of SAP are seen playing catch-up to other software companies that have made the cloud transition. The Barron's Roundtable got together again to churn up some stock ideas. American Tower (NYSE:AMT), Cohu (NASDAQ:COHU), Masonite International (NYSE:DOOR), CNH Industrial (NYSE:CNHI), Madison Square Garden Sports (NYSE:MSGS), Splunk (NASDAQ:SPLK), RH(NYSE:RH) and Toyota (NYSE:TM) are just of the stocks some mentioned as potential bargains in a pricey market.
Sources: EDGAR, Bloomberg, CNBC, Automotive News, Renaissance Capital
| | | |
EmoticonEmoticon