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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  The Q3 earnings season begins next week with companies in the S&P 500 Index looking to match the 28.3% profit growth projected for the quarter. An increase in profit would be the fifth quarter in a row and rank as the longest streak since 2005. Banks lead out the earnings charge next week with JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC) and Citigroup (NYSE:C) all heading into the confessional. Economic reports due out include updates on job opening expectations, retail sales, manufacturing, import/export prices and a key read on inflation with the September consumer price report due out. On the corporate calendar, a panel of FDA advisors will meet to discuss whether to recommend booster shots of COVID-19 vaccines from Moderna (NASDAQ:MRNA) and Johnson & Johnson (NYSE:JNJ) on October 14-15. There is also some meaty stuff on tap with Hormel (NYSE:HRL) and Sanderson Farms (NASDAQ:SAFM) holding key investor events while Blue Origin (BORGN) is sending Captain Kirk to space.
| | Earnings Earnings spotlight: Tuesday, October 12: Fastenal (NASDAQ:FAST) and Sleep Number (NASDAQ:SNBR).
Earnings spotlight: Wednesday, October 13: BlackRock (NYSE:BLK), Delta Air Lines (NYSE:DAL) and JPMorgan Chase (JPM).
Earnings spotlight: Thursday, October 14: Bank of America (BAC), Citigroup (C), Domino's Pizza (NYSE:DPZ), Morgan Stanley (NYSE:MS), Taiwan Semiconductor (NYSE:TSM), U.S. Bancorp (NYSE:USB) and Alcoa (NYSE:AA).
Earnings spotlight: Friday, October 15: Goldman Sachs (NYSE:GS), PNC Bank (NYSE:PNC) and Truist (NYSE:TFC). | | Sponsored By StartEngine  With a goal to help raise $10 billion by 2029, StartEngine has big plans... and they're already gaining momentum: - 146% revenue growth YoY in the first half of 2021.
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| | Earnings Bank earnings preview: Major banks will be in the spotlight as Q3 earnings roll in. Wells Fargo analyst Mike Mayo thinks that the most underappreciated aspect of bank performance is the improved marginal efficiency on new revenue, whether for markets or traditional banking. Mayo and team forecast Q3 EPS will be up 20% Y/Y for large-cap banks during the quarter, aided by another quarter of bull market banking. Goldman Sachs ( GS), Bank of America and JPMorgan ( JPM) are tipped to see a lift from M&A during the quarter. Wells Fargo lowered its Q3 EPS on Citigroup ( C) to $1.41 from $1.71 to fully incorporate the loss on sale of Citi's Australia consumer business. Citi has already noted that investment banking was strong during the quarter. Meanwhile, Wells boosted its Q3 EPS estimate on Morgan Stanley ( MS) to $1.66 from $1.48 to reflect somewhat better capital markets expectations, as M&A remains robust and equity trading has held up better relative to FICC. Wells Fargo keeps an Overweight rating on all five bank majors into the earnings rush. | | Events Corporate events: Dyne Therapeutics (NASDAQ:DYN) and BridgeBio Pharma (NASDAQ:BBIO) have Research and Development Days set for next week. Hydrogen energy will be on display when Plug Power (NASDAQ:PLUG) holds a symposium to explore the micro and macro trends influencing the widespread adoption of green hydrogen to accelerate the global energy transition. Investor events are also on tap for Jefferies Financial Group (NYSE:JEF), Sanderson Farms (SAFM) and Hormel (HRL). Check out Seeking Alpha's Catalyst Watch for a deeper dive into the events that may move share prices during the week. | | Healthcare Healthcare watch: REGENXBIO (NASDAQ:RGNX), Outlook Therapeutics (NASDAQ:OTLK), Aerie Pharmaceuticals (NASDAQ:AERI), BioNTech SE (NASDAQ:BNTX) and Clearside Biomedical (NASDAQ:CLSD) are some of the companies due to present data at the American Society of Retina Specialists meeting this week. Also, watch Avadel Pharmaceuticals (NASDAQ:AVDL) with the FDA action date on FT 218 treatment for excessive daytime sleepiness and cataplexy set for October 15. | | Analysis Conference schedule: Keep an eye on the Morgan Stanley Annual Spark Conference running on October 13. Rover Group (NASDAQ:ROVR), GoodRx Holdings (NASDAQ:GDRX) and UiPath (NYSE:PATH) are some of the notable presenters. Other conferences in the week ahead include the JPMorgan Global Healthcare Conference, the Bernstein 5th Annual Healthcare Services Disruptors Conference, the H.C. Wainwright 5th Annual NASH Investor Conference 2021 and the LD Micro 14th Annual Main Event Conference.
Stock splits: The two-for-one stock split for Microchip Technology (NASDAQ:MCHP) will become effective on October 13.
| | Space Space watch: A high-profile week is setting up for the space tourism sector with Blue Origin ( BORGN) scheduled to launch actor William Shatner into space on October 12. The launch of Shatner and three others will be from Blue Origin's Launch Site One in West Texas. Keep an eye on Virgin Galactic (NYSE: SPCE) with Captain Kirk raising the profile of space travel. | | Events Notable annual meetings: Procter & Gamble (NYSE: PG) holds its annual meeting with a proposal in front of shareholders that would require the Cincinnati-based consumer products giant to consider current and former non-managerial employees as candidates for open board seats to bolster board diversity. Ebix (NASDAQ: EBIX) has an annual meeting set for October 14. | | Stocks Barron's mentions: Gray Television (NYSE:GTN) is a surprise pick from the publication this week. The broadcasting stock is called an inexpensive way to bet on traditional broadcast TV surviving. The Atlanta-based company is on a path to be the second-largest local TV group after its deal to buy 17 stations from Meredith (NYSE:MDP) for $2.8B clears the regulatory process. Gray will also reach 36% of U.S. households and operate in 113 markets after swallowing up MDP. Shares of Gray Television trade at only 5X the consensus 2022 EPS estimate.
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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