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| | Welcome to the Sunday edition of Wall Street Breakfast, which previews events for investors to watch during the upcoming week. If you want to receive this a day earlier, follow Stocks to Watch and select the option to receive email notifications. Outlook  Big tech companies Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB), Alphabet (NASDAQ:GOOG) and Microsoft (NASDAQ:MSFT) dominate a huge week of earnings with over 25% of the S&P 500 constituents due to step into the earnings confessional. The headliner economic reports due in are updates on durable good orders, consumer confidence and new home sales. In Washington, there is growing optimism that a vote on the infrastructure and a trimmed down reconciliation spending proposal will go to a vote. Across the Atlantic, the United Nations climate summit in Glasgow takes place following G20 talks in Rome over the weekend, which could lead to decisions on climate targets. In the cryptocurrency world, VanEck's pending Bitcoin Strategy ETF (BATS:XBTF) is expected to be available to investors next week with management fees below those of the ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) and Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF). Trading on Digital World Acquisition Corp. (NASDAQ:DWAC) will also be closely watched after the SPAC soared last week on news of a business combination with Trump Media and Technology Group.
| | Earnings Earnings spotlight: Monday, October 25: Kimberly-Clark (NYSE:KMB), Facebook (FB) and Universal Health (NYSE:UHS).
Earnings spotlight: Tuesday, October 26: UPS (NYSE:UPS), General Electric (NYSE:GE), Lockheed Martin (NYSE:LMT), Alphabet (GOOG), Microsoft (MSFT), Twitter (NYSE:TWTR), F5 Networks (NASDAQ:FFIV), Hasbro (NASDAQ:HAS), Visa (NYSE:V), Robinhood Markets (NASDAQ:HOOD) and AMD (NASDAQ:AMD).
Earnings spotlight: Wednesday, October 27: Boeing (NYSE:BA), Coca-Cola (NYSE:KO), Kraft-Heinz (NASDAQ:KHC), McDonald's (NYSE:MCD), eBay (NASDAQ:EBAY), Ford (NYSE:F) and General Motors (NYSE:GM).
Earnings spotlight: Thursday, October 28: Anheuser-Busch InBev (NYSE:BUD), Caterpillar (NYSE:CAT), Merck (NYSE:MRK), MasterCard (NYSE:MA), Apple (AAPL), Atlassian (NASDAQ:TEAM), Amazon (AMZN), Altria Group (NYSE:MO), Hershey (NYSE:HSY), Comcast (NASDAQ:CMCSA), Keurig Dr Pepper (NASDAQ:KDP) and Starbucks (NASDAQ:SBUX).
Earnings spotlight: Friday, October 29: Exxon Mobil (NYSE:XOM), AbbVie (NYSE:ABBV), Church & Dwight (NYSE:CHD), Chevron (NYSE:CVX), Colgate-Palmolive (NYSE:CL) and L3Harris Technologies (NYSE:LHX). | | Communicated  If you've been sitting on the sidelines watching top cryptocurrencies like Bitcoin and Ethereum make new highs on what seems like a daily basis, it's easy to get discouraged. Have you missed the run higher? Is it too late to get in now? At Crypto Waves, we currently cover more than two dozen different cryptocurrencies and blockchain stocks. The goal is to give our members the opportunity to invest in and trade many of the high-growth names they would normally only be hearing about next month... or year. Start Your Free Trial Today | | IPOs IPO watch: A busy week is setting up in the IPO market with Informatica ( INFA), Rent the Runway ( RENT), Arteris ( AIP), GlobalFoundries ( GFS) (see full preview below), Fluence Energy ( FLNC), Ensemble Health Partners (NASDAQ: ENSB) and Candela Medical ( CDLA) all expected to debut. | | Healthcare FDA watch: A FDA advisory committee meeting on October 26 will analyze data on Pfizer's (NYSE: PFE) vaccine for children between the ages of 5 and 11. FDA action dates are on tap for Eyenovia's (NASDAQ: EYEN) MydCombi. The FDA holds a public advisory committee meeting on October 28 the Oncologic Drugs Advisory Committee concerning Oncopeptides AB (OTCPK: OTCPK:ONPPF) product Pepaxto. | | Trending Earnings buzz: Some earnings reporters to watch next week include Evercore (NYSE:EVR) and W.W. Grainger (NYSE:GWW), which are on Morgan Stanley's list of high-conviction earnings picks. A list from BofA of stocks that are set up well for positive earnings surprises includes Altria Group (MO), Exxon Mobil (XOM), Extra Space Storage (NYSE:EXR), CMS Energy (NYSE:CMS) and Facebook (FB) and Raytheon (NYSE:RTX). JPMorgan thinks Coinbase Global (NASDAQ:COIN) could be attractive on a post-earnings dip due to the recent rush of crypto interest. The firm also tips that Ford Motor (F) could see an earnings beat. Evercore ISI is also pointing at Extra Space Storage (EXR) as a likely earnings outperformer, while both William Blair and Baird think Driven Brands (NASDAQ:DRVN) will top estimates.
| | Analysis GlobalFoundries IPO preview: GlobalFoundries (GFS) goes public next week as the silicon wafer supplier hits the market right in the middle of a global semiconductor shortage. GlobalFoundries expects to raise up to $1.55B in an offering of 55M shares, of which 33M are from the company and 22M shares are from owner Mubadala Investment Co. The IPO is expected to be priced in a range of $42 to $47 per share to value GlobalFoundries as high as $25B. The company was spun off by AMD (AMD) in 2009 and competes with Intel (NASDAQ:INTC) and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM). Top customers include Qualcomm (NASDAQ:QCOM), MediaTek and NXP Semiconductors N.V. (NASDAQ:NXPI).
Apple earnings preview: Apple (AAPL) reports earnings on October 28 to rising expectations that strong iPhone 13 demand will lead to an earnings beat. Guidance from the company could be mixed due to the impact of the global chip shortage, with some iPhone production getting pushed out of Q4 into 2022. "We view near-term supply chain issues as nothing more than a speed bump on a multi-year supercycle iPhone 12/13 that continues to play out with FY22 Street numbers looking conservative at this juncture," says Wedbush Securities analyst Dan Ives. | | TOGETHER WITH Dividends Projected dividend increases: Companies forecast to boost their quarterly dividend payout include Amphenol (NYSE:APH) to $0.17 from $0.145, Power Integrations (NASDAQ:POWI) to $0.15 from $0.13, Visa (V) to $0.36 from $0.32, Boise Cascade (NYSE:BCC) to $0.11 from $0.10, AbbVie (ABBV) to $1.42 from $1.30, Oshkosh (NYSE:OSK) to $0.36 from $0.33 and Comfort Systems USA (NYSE:FIX) to $0.13 from $0.12. Meanwhile, Sturm, Ruger & Company (NYSE:RGR) is forecast to cut its dividend to $0.88 from $1.00.
| | Events Key corporate events to watch: There are a number of big events to track outside of the busy earnings season. Samsung (OTC:SSNLF) holds its SDC21 developer conference on October 26 to share its latest updates on software, services and platforms. On October 27, Intel (INTC) conducts the first of its new Intel ON series events on October 27. The new technical conference will focus on the company's latest technologies to deliver AI, 5G, edge, cloud, connectivity and PC solutions with speed and real-world scale. Datadog (NASDAQ:DDOG) also holds a virtual investor meeting as part of its annual user conference. Facebook (FB) hosts its annual Connect conference on October 28, which is expected to feature a focus on the tech giant's rebranding efforts that include a new name. The rebrand is likely to separate the Facebook app from other products like Instagram, WhatsApp, and Oculus. Mark Zuckerberg has been talking about Facebook transitioning to a metaverse company. Of interest, Facebook is a top holding in the Roundhill Ball Metaverse ETF (NYSEARCA:META). Check out this week's Catalyst Watch for a more detailed rundown of next week's big events.
Delivery by drone Walgreens (NASDAQ:WBA) will begin flying packages by drone to residents in Frisco and Little Elm, Texas in partnership that starts next week with Google's (GOOG) drone unit Wing. The Texas test will be Wing's first commercial expansion in the U.S. after years testing the concept in a Virginia town and parts of Australia and Finland.
Notable annual meetings: Hain Celestial (NASDAQ:HAIN) on October 28. | | Stocks Barron's mentions: The cover story breaks down why investors should be wary with Bitcoin ETFs. High fees and the risk of significant dispersion between ETF prices and the actual Bitcoin price are called two reasons to be careful with the ProShares Bitcoin Strategy ETF (BITO) and Valkyrie Bitcoin Strategy ETF (BTF). Meanwhile, Chesapeake Energy (NASDAQ:CHK) is seen as an attractive pick in the natural gas sector. The new Chesapeake is a called a "leaner machine, with the boost of added cash-flow generation" from soaring natural gas prices. Chesapeake's earnings reports on November 3 is expected to be a positive catalyst with cash flow likely to impress.
Sources: EDGAR, Bloomberg, CNBC, Reuters, Renaissance Capital | | | | | Seeking Alpha's Wall Street Breakfast Podcast Seeking Alpha's Wall Street Breakfast podcast brings you all the news you need to know for your market day. Released by 8:00 AM ET each morning, it is a quick listen that you can put on as you get ready to start your working day. | | | | |
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