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.
Investors head into next week with another trade cloud hanging overhead after President Trump said he wants to proceed with tariffs on $200B more in Chinese products even with the recent efforts to restart talks with Chinese officials. Despite all the dramatic trade headlines over the last few months, stocks have actually cruised along rather quietly. "It may not seem like it, but the SPX hasn’t seen a 1% decline since June 25 or a 1% gain since June 1. That’s pretty amazing knowing that many high-profile stocks have gotten hurt over the last few months," observed Instinet Technical Strategist Frank Cappelleri. Some strategists see higher interest rates as the much larger headwind for equities. Futures trading implies a 97.5% probability of a quarter-point boost in the federal-funds target rate at the Fed's next policy meeting on September 25-26 and a 78% chance of an additional quarter-point move at the December 18-19 meeting. Looking at next week, keep an eye on Oracle (NYSE:ORCL) earnings with the tech sector riding higher following Apple's (NASDAQ:AAPL) unveiling of new products. Also watch for some fireworks in the IPO market following Chinese EV player NIO's (NYSE:NIO) wake-up call last week, with eight new stocks slated to start trading. Finally, a check of the calendar shows that it's ten years to the day that Lehman Brothers filed for its infamous bankruptcy. Time flies when you're making trades.
Notable earnings reports: FedEx (NYSE:FDX) and Oracle (ORCL) on September 17; AutoZone (NYSE:AZO), General Mills (NYSE:GIS) and Cracker Barrel (NASDAQ:CBRL) on September 18; Red Hat (NYSE:RHT) on September 19; Darden Restaurants (NYSE:DRI), Micron (NASDAQ:MU) and Thor Industries (NYSE:THO) on September 20. See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.
IPOs expected to price: Luxury goods marketplace Farfetch (NYSE:FTCH) headlines the IPO calendar this week. Farfetch's user base has exploded to just under 1M users and the company's gross merchandise value jumped to $991M last year. Ticketing and events specialist Eventbrite (NYSE:EB) plans to sell 10M shares in a price range of $19 to $21. The company will raise $200M at the midpoint for a valuation of $1.8B. The full IPO calendar includes X Financial (NYSE:XYF) on September 18; Bank7 (NASDAQ:BSVN) and Elanco Animal Health (NYSE:ELAN) on September 19; Farfetch, Y-mAbs Therapeutics (NASDAQ:YMAB), Zekelman Industries (ZEK) , Eventbrite and Remora Royalties (NASDAQ:RRI) on September 20.
IPO lockup expirations: Sunlands Online Education (NYSE:STG) on September 19.
Analyst/investor meetings: (NYSE:MCO) on September 17; Humana (NYSE:HUM), (NYSE:BRO) and Danaher (NYSE:DHR) on September 18; Dova Pharmaceuticals (NASDAQ:DOVA), (NYSE:WK), (NYSE:WBC) and (NYSE:ATH) on September 20; (NYSE:BX) on September 21.
Projected dividend increases: JPMorgan (NYSE:JPM) to $0.80 from $0.56, Masco (NYSE:MAS) to $0.12 from $0.105, McDonald's (NYSE:MCD) to $1.11 from $1.01, Microsoft (NASDAQ:MSFT) to $0.46 from $0.42, Realty Income (NYSE:O) to $0.2205 from $0.22, Texas Instruments (NYSE:TXN) to $0.75 from $0.62, U.S. Bancorp (NYSE:USB) to $0.37 from $0.30, International Banc (NASDAQ:IBOC) to $0.35 from $0.33, Idacorp (NYSE:IDA) to $0.63 from $0.59.
Upcoming stocks split: Neovasc (NASDAQ:NVCN) has a 1-for-100 reverse stock split set for September 21.
Pharma watch: The European Academy of Dermatology and Venereology meeting in Paris, France wraps up this weekend. Companies due to give drug data updates include Bristol-Myers Squibb (NYSE:BMY), Pfizer (NYSE:PFE), Kiniksa Pharmaceuticals (NASDAQ:KNSA), Regeneron Pharmaceuticals (NASDAQ:REGN), Sanofi (NYSE:SNY), AbbVie (NYSE:ABBV) and Novaartis (NYSE:NVS).
Gaming watch: The Nintendo (OTCPK:NTDOY) Switch online service is due to be live on September 18.
Recode conference: The Code Conference is a technology conference hosted by Recode that is set for New York City on September 17-18. Speakers include Square (NYSE:SQ) CFO Sarah Friar, JD.com (NASDAQ:JD) exec Hui Cheng, Macy's (NYSE:M) CEO Jeff Gennette, Instacart (ICART) CEO Apoorva Mehta, Chobani CEO Hamdi Ulukaya and PayPal (NASDAQ:PYPL) execs Robert Clarkson and Darrell Esch.
Roadshows: Foot Locker (NYSE:FL) has a non-deal roadshow set with Canaccord Genuity on September 18. FedEx (FDX) also has a roadshow on the calendar for September 20, while Royal Caribbean (NYSE:RCL) will host a roadshow on September 21.
Business calls: Diageo (NYSE:DEO) execs will discuss Europe and Turkey with President John Kennedy on September 18.
Ticking clocks: The long and winding road to acquire Sky (OTCPK:SKYAY) is close to ending. If Comcast (NASDAQ:CMCSA) or Fox (NASDAQ:FOX) don't drop out of the bidding for Sky next week, a five-day auction will be run by regulators for the coveted media property.
Danske Bank: Denmark's largest bank is expected to release findings of an internal probe on potential Russian money laundering in the neighborhood of $150B. Danske Bank (OTCPK:DNSKF, OTCPK:DNSKY) is also being investigated by the U.S. Justice Department, Treasury Department and SEC over the issue.
Monthly credit card charge-off and delinquencies reports: Updates are due out from Alliance Data Systems (NYSE:ADS), American Express (NYSE:AXP), Bank of America (NYSE:BAC), Citigroup (NYSE:C), Capital One Financial (NYSE:COF), Discover Financial (NYSE:DFS), JPMorgan (JPM) and Synchrony Financial (NYSE:SYF) on September 17.
Business talk: Mastercard (NYSE:MA) North America President Craig Vosburg will present at the Autonomous Future of Commerce Symposium in New York City on September 20.
M&A tidbits: The Stars Group (NASDAQ:TSG) is expected to file its business acquisition report with respect to the acquisition of Sky Betting & Gaming. The BAR will include Sky Betting & Gaming's audited financial statements for its last fiscal year as well as certain pro forma unaudited financial statements. The Stars Group is hosting a conference call and webcast at 8:30 a.m. ET on September 17 to discuss the contents of the report. Rent-A-Center (NASDAQ:RCII) shareholder vote on the Vintage Capital takeover offer on September 18. Go-shop expirations hit this week for Cava Group's acquisition of Zoe's Kitchen (NYSE:ZOES) and Hartford's (NYSE:HIG) purchase of Navigators (NASDAQ:NAVG).
Crypto watch: Ready for a new cryptocurrency network? After an extended period of legal issues and infighting, the main version of the Tezos cryptocurrency (XTZ-USD) network is due to be launched next week by the Swiss foundation promoting the initiative. Crypto investors have taken notice of the development. Tezos is up 18% over the last 24 hours to jump to a market cap of $948M. There's been some settling down in the beaten-up cryptocurrency market. Over the last seven days, Bitcoin (BTC-USD) is up 0.6% and EOS (EOS-USD) is up 5.9%, while Bitcoin Cash (BCH-USD) is down 10.5% and XRP (ZRP-USD) is off 4.6%.
Box office: The top three movies this week are forecast to be Fox's (NASDAQ:FOXA) The Predator ($29M), Warner Bros.' (NYSE:TWX) The Nun ($20M) and Lionsgate's (LGF.A, LGF.B) A Simple Favor ($16M). Through September 12, the U.S. box office is running 9% ahead of last year's pace.
Cheeseburger, cheeseburger, cheeseburger: It's not quite an actionable event for traders, but National Cheeseburger Day arrives on September 18. Hamburger sector YTD returns: Habit Restaurants (NASDAQ:HABT) +64%, Sonic (NASDAQ:SONC) +34%, Shake Shack (NYSE:SHAK) +32%, Wendy's (NYSE:WEN) +10%, McDonald's (MCD) -6%, Jack in The Box (NASDAQ:JACK) -14%, Red Robin Gourmet Burgers (NASDAQ:RRGB) -33%.
Barron's mentions: Insurance heavyweights Allstate (NYSE:ALL), AIG (NYSE:AIG) and Travelers (NYSE:TRV) are expected to ride out Hurricane Florence with ease due to their strong capital positions. The publication asks how high can Apple (AAPL) push up iPhone prices before hitting heavy resistance from consumers? Bad weather and political gridlock are noted to have dragged down the share prices of companies that produce cement, concrete, asphalt, and aggregates. Cemex (NYSE:CX), Eagle Materials (NYSE:EXP), Martin Marietta (NYSE:MLM), Summit Materials (NYSE:SUM), US Concrete (NASDAQ:USCR) and Vulcan Materials (NYSE:VMC) could be in oversold territory.
Sources: Nasdaq, Reuters, EDGAR, Bloomberg.
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