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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  Investors will come back from the weekend looking to determine if the market sell-off tied to a new COVID variant is overdone or if the pandemic recovery timeline is being pushed back. The selling pressure was not limited to travel and leisure stocks, as a risk-off trade swept over the tech sector, electric vehicle names and cryptocurrencies as well. It will be a busy week with a key OPEC meeting on the calendar and the November jobs report due out on Friday. | | Earnings Earnings spotlight: Monday, November 29: Li Auto (NASDAQ:LI) and Navigator Holdings (NGVS).
Earnings spotlight: Tuesday, November 30: Salesforce.com (NYSE:CRM), Globalfoundries (NASDAQ:GFS), Box (NYSE:BOX), Hewlett Packard Enterprises (NYSE:HPE) and NetApp (NASDAQ:NTAP).
Earnings spotlight: Wednesday, December 1: Royal Bank of Canada (NYSE:RY), Snowflake (NYSE:SNOW), Crowdstrike (NASDAQ:CRWD) and Zscaler (NASDAQ:ZS).
Earnings spotlight: Thursday, December 2: Marvell Technologies (NASDAQ:MRVL), Dollar General (NYSE:DG) and Kroger (NYSE:KR).
Earnings spotlight: Friday, December 3: Big Lots (BIHG) and Hibbett Sports (NASDAQ:HIBB). | | Sponsored By iTrust Capital  Get the best of both worlds with a Crypto IRA – retirement account tax benefits and 24/7 access to Cryptocurrency investing. $0 Monthly Account Fees Free Account Setup 24/7 Trading Platform Military Grade Security
Bitcoin, Ethereum, Chainlink, Cardano, Polkadot and more, all in your retirement account. Start investing today! | | IPOs IPO watch: Nuvectis Pharma (NVCT) is expected to price its IPO next week and begin trading, It is a busy week of analyst quiet period expirations. Analysts can begin posting ratings on Evotec SE (NASDAQ:EVO), Allbirds (NASDAQ:BIRD) , Arhaus (NASDAQ:ARHS), NerdWallet (NASDAQ:NRDS), Claros Mortgage Trust (NYSE:CMTG) , Cadre Holdings (NYSE:CDRE) , MDxHealth SA (NASDAQ:MDXH) and Blue Star Foods (NASDAQ:BSFC) on November 29. Analysts will start buzzing on Cian (CIAN), IO Biotech (NASDAQ:IOBT), Real Good Food (NASDAQ:RGF), Biorestorative Therapies (NASDAQ:BRTX) and Mainz Biomed (NASDAQ:MYNZ) on November 30.
IPO lockup period expirations: The IPO lockup period expires on Dlocal (NASDAQ:DLO), which is up more than 50% from its IPO pricing level. | | Dividends Projected dividend increases: Companies forecast to raise their quarterly dividend payout by a significant amount include Raymond James (NYSE: RJF) to $0.35 from $0.26, Fortune Brands (NYSE: FBHS) to $0.32 from $0.26, Ethan Allen (NYSE: ETD) to $0.29 from $0.25, Stryker (NYSE: SYK) to $0.69 from $0.63, McCormick (NYSE: MKC) to $0.37 from $0.34, Eastman Chemical (NYSE: EMN) to $0.75 from $0.69, Toro (NYSE: TTC) to $0.285 from $0.2625, Owens Corning (NYSE: OC) to $0.28 from $0.26 and Merck (NYSE: MRK) to $0.70 from $0.65. | | Energy OPEC meeting preview: The OPEC+ meeting next week is attracting more attention than normal. Traders are watching to see if the group will stick with the plan to proceed with output increases next week, even as Saudi Arabia and other producers push back against the release of strategic reserves by the U.S. and other nations in an effort to push down energy prices. Ahead of the meeting, crude oil benchmarks ( CL1:COM) plunged more than 10% on Friday after a newly discovered coronavirus strain sparked fears over the global economic recovery and the potential effects on travel and oil demand. | | Events Corporate events: Amazon's (NASDAQ: AMZN) four-day AWS re:Invent event will be watched closely in the tech sector with new AWS products and services to be featured. A number of other companies have seen share price moves after showing off their products, services or platforms at AMZN's annual learnings conference, including Datadog (NASDAQ: DDOG) and NetApp ( NTAP). On November 30, BioMarin Pharmaceutical (NASDAQ: BMRN) holds its Virtual R&D Day, Novartis (NYSE: NVS) holds a five-hour R&D day with detailed updates on the company's pipeline, and Newmont Corporation (NYSE: NEM) conducts a guidance webcast. Glencore ( OTCPK:GLCNF) also hosts its annual investor update. | | Analysis Sales updates: Online retail will be watched closely next week as early reports arrive on Black Friday to Cyber Monday sales. Shopify (NYSE:SHOP), Etsy (NASDAQ:ETSY), Wayfair (NYSE:W) and Yeti Holdings (NYSE:YETI) are some of the stocks that are being set apart by analysts as potential winners. In the tech sector, Apple (NASDAQ:AAPL) is reported to have had a big weekend with Wedbush Securities forecasting sales of more than 10 million iPhones for the Black Friday weekend. "Despite the chip shortage and Rubik's Cube logistics that Apple (and every other technology, auto, and retail vendor) is dealing with we are seeing tremendous demand trends both in the US and China for iPhone 13 which is a positive sign that Apple could exceed selling 80 million iPhone units in the quarter with stronger Pro versions driving higher ASPs," updates analyst Dan Ives.
Hewlett Packard Enterprise earnings preview: The last few analysts to weigh in on Hewlett Packard Enterprises' (HPE) earnings report have forecast a largely in-line report, but have pointed to plenty of wildcards that could impact sentiment. Most of the focus will be on the demand outlook for 2022. "Given a solid IT spend environment (networking, server & storage) with networking peer CSCO reporting robust order growth +33% in Oct-qtr (vs. 31% in July), our sense is that the demand environment for HPE will continue to be strong," notes Evercore ISI. Also working in its favor, HPE is noted to have wrapped up an ERP initiative (implementing a single ERP system company-wide and demanding better/timely supplier data) which is expected to help alleviate supply pain points going forward. On the server side, the outlook and general demand environment is also said to continue to look solid. | | Outlook Annual meetings: Microsoft is (NASDAQ: MSFT) holds its annual meeting with advisory groups asking shareholders to back a proposal at its forthcoming annual meeting that would force the tech giant to be more transparent about its sexual harassment policies following allegations of misconduct by co-founder Bill Gates. The meeting is also expected to include more discussion over Microsoft's plans to be a major metaverse player. | | Stocks Barron's mentions: IBM (NYSE:IBM) is called one of the biggest bargains in the tech sector in a glowing cover story profile. IBM is noted to have begun laying the groundwork for its recovery in 2020 when it picked cloud expert Arvind Krishna to replace Ginni Rometty. The publication says if IBM proves that it can return to growth, the stock could see a gain of 50% or more in the years to come. Gentherm (NASDAQ:THRM) is called a cheap way to play the electric vehicle boom. The company's new ClimateSense product - which uses thermoelectric devices, sensors, and software embedded in seats, footwells, armrests, and the steering wheel - is seen as advantageous to EVs by taking the load off heating, ventilation and air-conditioning. The biggest market question of the weekend is if the Black Friday sell-off was a low-volume overreaction to news of the COVID-19 variant. "Quite simply, nobody yet knows what the economic impact might be," concludes Barron's on the new market wildcard.
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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