Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning.
While trade talk and dueling tariffs continue to steal the headlines, oil traders are anxiously waiting to see what Saudi Arabia does at the crucial meeting of OPEC and non-OPEC producers in Vienna on June 22. "With unplanned outages escalating, geopolitical risks rising, and U.S. shale production facing infrastructure bottlenecks, Saudi Arabia is once again back in the driver's seat exerting significant influence over the oil market in 2018," advises RBC Capital Markets. As it stands now, Saudi Arabia and Russia are expected to push to increase oil output, while other producers such as Iran and Venezuela want to hold production steady. Oil prices retreated sharply on Friday in anticipation that production hikes could be on the way. Exxon Mobile (NYSE:XOM), Royal Dutch Shell (NYSE:RDS.A), Chevron (NYSE:CVX), Total (NYSE:TOT), BP (NYSE:BP), ConocoPhillips (NYSE:COP), Continental Resources (NYSE:CLR) and the rest of the oil patch will be watching the OPEC developments closely, as well as the downstream sectors impacted by oil prices. Meanwhile, it's a somewhat quiet week for economic releases, although several Fed heads are due to speak. Atlanta Federal Reserve Bank President Raphael Bostic (June 18), New York Federal Reserve Bank President John Williams (June 18) and St. Louis Federal Reserve Bank President James Bullard (June 19) will all be on the mike. What do the Fedsters think about a yield gap (37 bps) between the two-year and ten-year notes that has narrowed to the lowest level since 2007?
Notable earnings reports: Oracle (NYSE:ORCL) and FedEx (NYSE:FDX) on June 19; Micron Technology (NASDAQ:MU), JA Solar (NASDAQ:JASO) and Winnebago (NYSE:WGO) on June 20; Red Hat (NYSE:RHT), Carnival (NYSE:CCL), Barnes & Noble (NYSE:BKS) and Kroger (NYSE:KR) on June 21; BlackBerry (NYSE:BB) and Finish Line (NASDAQ:FINL) on June 22. See Seeking Alpha's Earnings Calendar for the complete list.
IPOs expected to price: Eidos Therapeutics (NASDAQ:EIDX) on June 19; Essential Properties Realty Trust (NYSE:EPRT), Aptinyx (NASDAQ:APTX), Avrobio (NASDAQ:AVRO), I3 Verticals (NASDAQ:IIIV), Xeris Pharmaceuticals (NASDAQ:XERS), ElectoCore (NASDAQ:ECOR), Magenta Therapeutics (NASDAQ:MGTA), Kezar Life Sciences (NASDAQ:KZR) on June 20; Autolus Therapeutics (NASDAQ:AUTL) and DERMAdoctor (NASDAQ:DDOC) on June 21.
Analyst quiet period expirations:Evo Payments (NASDAQ:EVOP), Kiniksa Pharma (NASDAQ:KNSA), CLPS (NASDAQ:CLPS), Scholar Rock (NASDAQ:SRRK), GreenSky (NASDAQ:GSKY) on June 18; Iterum Therapeutics (NASDAQ:ITRM) on June 19; Incyte (NASDAQ:INCY) on June 21.
SCOTUS: Supreme Court rulings are due out on June 18. Once again, the retail industry will be watching closely to see if the High Court issues a decision in the online sales tax case in which South Dakota appealed a lower court ruling that favored online sellers like Wayfair (NYSE:W), Overstock.com (NASDAQ:OSTK) and Newegg. The state passed a law in 2016 that requires online retailers to collect taxes if total sales cross $100K or 200 separate transactions.
Projected dividend hike announcements: Darden (NYSE:DRI) to $0.68 from $0.63, Fifth Third (NASDAQ:FITB) to $0.18 from $0.16, Kroger (KR) to $0.13 from $0.125, Medtronic (NYSE:MDT) to $0.50 from $0.46, Oracle (ORCL) to $0.22 from $0.19, John Wiley (NYSE:JW.A) to $0.33 from $0.32.
Morgan Stanley 5G / AV Summit: Ford (NYSE:F) execs plan to share views on the importance of connectivity as the industry heads towards the deployment of autonomous vehicles. The automaker will also outline the steps it's taking to get to 100% connectivity across its vehicle range in the U.S. and China by the end of 2019. A Q&A session is scheduled as well.
Jefferies Global Consumer Conference: A large roster of retail sector execs are due to meet June 19-20 in Nantucket, Massachusetts. The conference follows shortly after a strong report on May retail sales, including category gains for clothing and clothing accessory stores (+8.2% Y/Y), general merchandise stores (+5.6%), building materials and garden supply stores (+5.3%), grocery and beverage stores (+4.4%) and furniture and home furnishings stores (+4.2%). Companies heading to the affair include Aaron's (NYSE:AAN), Brunswick (NYSE:BC), Chuy's Holdings (NASDAQ:CHUY), Deckers Outdoor (NASDAQ:DECK), Floor & Decor (NYSE:FND), Herbalife (NYSE:HLF), Funk (NASDAQ:FNKO) El Pollo Loco (NASDAQ:LOCO), Murphy USA (NYSE:MUSA), Noodles (NASDAQ:NDLS), Dave & Buster's Entertainment (NASDAQ:PLAY), Pilgrim's Pride (NYSE:PPC), Ruth Hospitality (NASDAQ:RUTH), Sanderson Farms (NASDAQ:SAFM), Shake Shack (NYSE:SHAK), Del Taco Restaurants (NASDAQ:TACO), United Natural Foods (NASDAQ:UNFI), Zoe's Kitchen (NYSE:ZOES), Chefs' Warehouse (NASDAQ:CHEF), Acushnet Holdings (NASDAQ:GOLF), Jack in the Box (NASDAQ:JACK), SpartanNash (NASDAQ:SPTN), Sysco (NYSE:SYY), Xenia Hotels & Resorts (NYSE:XHR) and a long list of others.
Blockchain: Keep an eye on the Blockchain Economic Forum running in San Francisco from June 16-19 and the Crypto Valley Conference on Blockchain Technology in Switzerland from June 20-22. Both high-level events will feature CEOs, scholars and government officials. Over the last seven days, Bitcoin (BTC-USD) is down 15%, Ethereum (ETH-USD) is off 17%, Litecoin (LTC-USD) fell 19% and Ripple (XRP-USD) dropped 21%. Pundi X (PXS-USD) is a notable gainer over the period, up 32%.
Colorado casinos: While analysts pay a lot of attention to casinos in Vegas, New Jersey and Macau - Union Gaming sees upside in Colorado. "The Colorado mountain towns are some of the best gaming markets today with a relatively low GGR tax, virtually no competitive supply growth, and favorable macroeconomic trends in key feeder markets, including Denver, Boulder, Fort Collins, and Colorado Springs," notes John DeCree. Expect news relatively shortly on sports betting as politicians in the state ramp up support for legislation (limited or statewide). Monarch Casino & Resort (NASDAQ:MCRI) and Full House Resorts (NYSEMKT:FLL) are two players with operations in Colorado.
Ticking clocks: Facebook (NASDAQ:FB) CEO Mark Zuckerberg has until June 15 to respond to questions from the Senate Commerce, Science and Transportation Committee about reports that the company gave mobile device manufacturers special access to private user data.
Box office: Disney's (NYSE:DIS) Incredibles 2 is being given an excellent chance of breaking the all-time animated film opening record based on early showings. The Pixar film is expected to gross between $125M and $140M in the U.S. at 4,410 locations, which puts the $135M tally from Finding Dory within range. Well-received Ocean's 8 is tipped to haul in $20M as the franchise remains vibrant. Warner Bros. (NYSE:TWX) film Tag is seen debuting with a $12M to $16M opening at 3,382 theaters, while Sony's (NYSE:SNE) Superfly remake is seen bringing in $10M to $12M. In a limited opening, Gotti is being brought to U.S. theaters by the Vertical Entertainment/Sunrider/MoviePass (NASDAQ:HMNY) combo, with John Travolta playing the Dapper Don.
Barron's mentions: Alphabet (NASDAQ:GOOGL), Dish Network (NASDAQ:DISH), Sanofi (NYSE:SNY), Naspers (OTCPK:NPSNY) and Itau Unibanco Holdings (NYSE:ITUB) are singled out as cheap global stocks for investors to consider. Amid the dizzying pace of media M&A, Verizon (NYSE:VZ) is called the "least risky" way to play the trend due to the company's smart use of capital. Looking for a dividend hero? A list of stocks rated at Outperform by Evercore ISI with a dividend yield of 2.0% or better includes JPMorgan Chase (NYSE:JPM), Starbucks (NASDAQ:SBUX), Intel (NASDAQ:INTC), Valero Energy (NYSE:VLO) and Delta Air Lines (NYSE:DAL).
Sources: EDGAR, Bloomberg, CNBC and Reuters.
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