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.
The animal spirits of investors appear to be revving up, with the Dow Jones Industrial Average sitting at its all-time high and a cannabis mania stealing the headlines. Investors can look forward to another wild ride next week for marijuana momentum names like Tilray (NASDAQ:TLRY), Aurora Cannabis (ACBFF), Cronos Group (NASDAQ:CRON) and Canopy Growth (NYSE:CGC) - but in which direction? Potential market-moving events next week include President Trump's address to the United National General Assembly and the Congressional vote on the $825B spending package that is raising some deficit concerns. Republican state attorneys general will also be in D.C. to discuss the social media practices of Google (NASDAQ:GOOG), Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) with Attorney General Jeff Sessions. Global markets will have to digest late news from Friday from The Wall Street Journal that China canceled trade talks with the U.S. and pulled back vice-premier Liu He from a Washington visit. Finally, don't forget about the FOMC meeting on September 26-27. While all signs indicate that a quarter point hike is locked in, any signals on what the policy-making committee plans to do in December could be crucial.
Notable earnings reports: Ascena Retail Group (NASDAQ:ASNA) on September 24; Nike (NYSE:NKE), Carnival (NYSE:CCL), KB Home (NYSE:KBH) and Jabil (NYSE:JBL) on September 25; Bed Bath & Beyond (NASDAQ:BBBY), Pier 1 Imports (NYSE:PIR) and CarMax (NYSE:KMX) on September 26; Accenture (NYSE:ACN), McCormick (NYSE:MKC), ConAgra Brands (NYSE:CAG) and Rite Aid (NYSE:RAD) on September 27; BlackBerry (NYSE:BB) and Vail Resorts (NYSE:MTN) on September 28. See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.
IPOs expected to price: Vioma Technology (NASDAQ:VIOT) on September 24; Capital Bancorp (NASDAQ:CBNK), Entasis Therapeutics (NASDAQ:ETTX), SVMK (NASDAQ:SVMK), Arco Platform (NASDAQ:ARCE) and CooTek Cayman (NYSE:CTK) on September 25; Sutro Biopharma (NASDAQ:STRO), RA Medical Systems (NYSE:RMED), LAIX (NYSE:LAIX), Urovant Sciences (NASDAQ:UROV) and Arvinas (NASDAQ:ARVN) on September 26; Gristone Oncology (NASDAQ:GRTS) on September 27.
IPO lockup expirations: GreenTree Hospitality (NYSE:GHG), OP Bancorp (NASDAQ:OPBK), Homology Medicines (NASDAQ:FIXX), Bilibili (NASDAQ:BILI) and OneSmart Internet Education (NYSE:ONE) on September 24; Iqiyi (NASDAQ:IQ) Unum Therapeutics (NASDAQ:UMRX) and Genprex (NASDAQ:GNPX) on September 25.
Spotlight on Nike: The company heads into its FQ1 earnings report full of momentum, with shares up 37% YTD and close to an all-time high. Brand checks from marketing research firms and Wall Street analysts have showed Nike scoring very high with consumers following the new Just Do It Campaign, particularly with men and women between the ages of 18 and 34. "With fundamentals accelerating and Nike poised to benefit from a strengthening product cycle that could drive stronger sales and margin performance, we see increasing visibility to an earnings acceleration beyond fiscal 2019 which should support premium valuation metrics," advises Baird (Outperform rating, $90 PT).
Analyst quiet period expirations: BioNano Genomics (NASDAQ:BNGO) on September 24.
Projected dividend increases: Accenture (ACN) to $1.46 from $1.33, American Express Co (NYSE:AXP) to $0.39 from $0.35, Honeywell (NYSE:HON) to $0.84 from $0.745, Lockheed (NYSE:LMT) to $2.18 from $2.00, Glacier Bancorp (NASDAQ:GBCI) to $0.29 from $0.26, International Banc (NASDAQ:IBOC) to $0.35 from $0.33, OGE Energy (NYSE:OGE) to $0.365 from $0.3325, Progress Software (NASDAQ:PRGS) to $0.1875 from $0.14, TTEC (NASDAQ:TTEC) to $0.30 from $0.27.
Spotlight on e-cigs: FDA Commissioner Scott Gottlieb will appear at an event in Washington on September 25 to debate American Vaping Association President Greg Conley on the reported explosion of usage of e-cigarettes with high school-aged children. Height Capital Markets estimates that there is a 65% chance that regulators will force the removal of a material number of JUUL's and other companies' e-cigarette products from the U.S. market before the end of this year. E-cig stocks such Altria (NYSE:MO), Imperial Brands (OTCQX:IMBBY) British American Tobacco (NYSEMKT:BTI) and Japan Tobacco (OTCPK:JAPAY) could be active if any news develops out of the Gottlieb appearance.
Sector classification shakeup: The consumer discretionary, information technology, and telecommunication services sectors will see a major classification change on September 24 with a new GICS sector called communication services replacing the old telecomm group and adding some names from the other two. Alphabet (NASDAQ:GOOGL), Facebook (FB), Twitter(TWTR), Netflix, Disney (NYSE:DIS), Comcast (NASDAQ:CMCSA), AT&T (NYSE:T), and Verizon (NYSE:VZ) are among the stocks being moved into the communications services sector. The Communication Services Select Sector SPDR fund (NYSEARCA:XLC) is already up and running for investors who want a catch-all bet on the communications services industry.
Fizzled out: Coca-Cola (NYSE:KO) lit up the beverage sector last week when it hinted at a cannabis play, sending investors on speculative runs into New Age Beverages (NASDAQ:NBEV), DavidsTEA (NASDAQ:DTEA) and Reed's (NYSEMKT:REED). What does the confluence of the beverage and marijuana markets mean for Monster Beverage (NASDAQ:MNST), PepsiCO (NYSE:PEP), Castle Brands (NYSEMKT:ROX), Molson Coors (NYSE:TAP), Constellations Brands (NYSE:STZ), Celsius Holdings (NASDAQ:CELH), Jones Soda (NASDAQ:JSDA), Craft Brew Alliance (NASDAQ:BREW) and Keurig Dr Pepper (NYSE:KDP)? And is it possible Long Blockchain (OTCPK:LBCC) changes its name back to Long Island Iced Tea? Just asking for a friend.
Bright lights on banking: The Stephens Bank CEO Forum takes place in Little Rock, Arkansas on September 24-26. Look for appearances by Ameris (NASDAQ:ABCB), Allegiance Bancshares (NASDAQ:ABTX), Business First Bancshares (NASDAQ:BFST), BofI Holding (NASDAQ:BOFI), BOK Financial (NASDAQ:BOKF), First Busey (NASDAQ:BUSE), Byline Bancorp (NYSE:BY), Cadence Bancorporation (NYSE:CADE), Carolina Financial (NASDAQ:CARO), CBTX (NASDAQ:CBTX), City Holding (NASDAQ:CHCO), Chemical Financial (NASDAQ:CHFC), CenterState Banks (NASDAQ:CSFL), Eagle Bancorp (NASDAQ:EGBN), Equity Bancshares (NASDAQ:EQBK), FB Financial (NYSE:FBK), First Bancshares (NASDAQ:FBMS), First BanCorp (NYSE:FBP), First Financial Bancshares (NASDAQ:FFIN), Franklin Financial (NYSE:FSB), Guaranty Bancshares (NASDAQ:GNTY), Howard Bancorp (NASDAQ:HBMD), Horizon Bancorp (NASDAQ:HBNC), Home BancShares (NASDAQ:HOMB), Hilltop Holdings (NYSE:HTH), Heartland Financial (NASDAQ:HTLF), Hometown Bancorp (NASDAQ:HWC), Fidelty Southerm (NASDAQ:LION), LegacyTexas Financial (NASDAQ:LTXB), Merchants Bancorp (NASDAQ:MBIN), NBH Holdings (NYSE:NBHC), Nicolet Bankshares (NASDAQ:NCBS), National Commerce (NASDAQ:NCOM), Origin Bancorp (NASDAQ:OBNK), Old Line Bancshares (NASDAQ:OLBK), Old National Bancorp (NYSE:ONB), Bank OZK (NASDAQ:OZK), PacWest (NASDAQ:PACW), Prosperity Bancshares (NYSE:PB), Preferred Bank (NASDAQ:PFBC), Pinnacle Financial Partners (NASDAQ:PNFP), Pacific Premier (NASDAQ:PPBI), RBB Bancorp (NASDAQ:RBB), Renasant (NASDAQ:RNST), Simmons First National (NASDAQ:SFNC), SVB Financial (NASDAQ:SIVB), SmartFinancial(NASDAQ:SMBK), Synovus Financial (NYSE:SNV), South State (NASDAQ:SSB), Sterling Bancorp (NYSE:STL), Spirit of Texas Bancshares (NASDAQ:STXB), Triumph Bancorp (NASDAQ:TBK), Trico Bancshares (NASDAQ:TCBK), TriState Capital (NASDAQ:TSC), Union Banshares (NASDAQ:UBSH), Veritex Holdings (NASDAQ:VBTX), WesBanco (NASDAQ:WSBC) and Wintrust Financial (NASDAQ:WTFC).
Business update calls: ONEOK (NYSE:OKE) on September 26.
World Conference on Lung Cancer: Companies posting data at the event in Toronto from September 24-27 include Spectrum Pharmaceuticals (NASDAQ:SPPI), Merck (NYSE:MRK), Bristol-Myers Squibb (NYSE:BMY), Pfizer (NYSE:PFE), Incyte (NASDAQ:INCY), Loxo Oncology (NASDAQ:LOXO), Johnson & Johnson (NYSE:JNJ), Aldeyra Therapeutics (NASDAQ:ALDX), AstraZeneca (NYSE:AZN), Syndax Pharmaceuticals (NASDAQ:SNDX) and Roche (OTCQX:RHHBY).
Box office: Universal Pictures' The House with a Clock in Its Walls is the only film projected to cross $10M in the U.S. during what is expected to be a rather quiet weekend. Universal only has one film (Jurassic World: Fallen Kingdom) in the list of top 2018 earners, compared to five for Disney (DIS).
Barron's mentions: The list of recommended stocks to snap up as bond yield rise includes Applied Materials (NASDAQ:AMAT), BorgWarner (NYSE:BWA), Caterpillar (NYSE:CAT), KeyCorp (NYSE:KEY) and Parker-Hannin (NYSE:PH). Broadcom (NASDAQ:AVGO) is called attractive, with the company seen as poised to put its ample free cash flow into dividends and share purchases. The cover story this week makes a compelling case for buying gold. "Compared with stocks and other financial assets, gold looks inexpensive," writes Andrew Bary. Mining stocks Barrick Gold (NYSE:ABX), Franc-Nevada (NYSE:FNV) and Newmont Mining (NYSE:NEM) are mentioned as potential gold plays outside of ETFs.
Sources: Nasdaq, Reuters, EDGAR, WSJ, Bloomberg.
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