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.
Banks and interest rates are set to dominate the discussion next week after Treasury yields rode strong economic data and some Fedspeak to new multi-year highs. The 10-year broke to as high as 3.23% and the 30-year bond checked out the view from 3.40%. While the common refrain is to buy financial majors such as Goldman Sachs (NYSE:GS), Visa (NYSE:V) and JPMorgan (NYSE:JPM) in favor of dividend favorites like Walmart (NYSE:WMT), Coca-Cola (NYSE:KO) and Procter & Gamble (NYSE:PG), some analysts think there is less bang for the buck these days for that playbook. That group sees the macroeconomic mix as just about right to keep all sectors percolating even as the FOMC marches ahead with a few more hikes. Adding to the fun, Q3 earnings season kicks off at the end of the week with Citigroup (NYSE:C), JPMorgan (JPM), Wells Fargo (NYSE:WFC) and PNC Financial (NYSE:PNC) all scheduled to spill numbers, talk banking and fall under the conference call spotlights.
Notable earnings reports: It's the calm before the storm as only a few major companies are out with earnings this week in front of the coming Q3 deluge. Watch for Fastenal (NASDAQ:FAST) on October 10, as well as Delta Air Lines (NYSE:DAL) and Walgreen Boots Alliance (NASDAQ:WBA) on October 11. Big banks step up to the plate on October 12, with Citigroup, JPMorgan, Wells Fargo and PNC Financial all scheduled to report. See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.
IPOs expected to price: The IPO market looks to continues its hot streak after the 23 IPO's that priced in September returned an average of 22% on opening day from their IPO pricing level. This week FMC (NYSE:FMC) spinoff Livent (NYSE:LTHM), Osmotica Pharmaceuticals (NASDAQ:OSMT) and Allogene Therapeutics (NASDAQ:ALLO) are all expected to price on October 10. Anaplan (NYSE:PLAN) and Equillium (NASDAQ:EQ) are due to price on October 11. Over in Hong Kong, Tesla supplier is Ganfeng Lithium is floating shares.
IPO lockup expirations: Zuora (NYSE:ZUO) on October 9. Zuoura is up a cool 50% from the $14 per share IPO pricing level and has traded as high as $37.8.
Analyst quiet period expirations: Analysts get a free crack at NIO (NYSE:NIO) with the quiet period expiring on October 11. The Chinese automaker stock is expected to get a lot of attention from Wall Street with EV industry developments moving fast in Beijing and Shanghai on regulations, partnerships and production ramp-ups. 111 (NASDAQ:YI) also has a quiet period expiration on October 10 and Qutoutiao (NASDAQ:QTT) is scheduled to hear from analysts on October 11.
Google hardware event: Alphabet (GOOG, GOOGL) is expected to announce the release of the Pixel 3 and Pixel 3 XL phones at its hardware event scheduled for New York City on October 9. Other products that could be unveiled include a Google Home Hub, a new Pixel Slate tablet and a beefed-up Pixelbook. Keep your eyes open for any news on Google's rumored Yeti gaming service. The Yeti video game streaming service is seen as a potential challenger to Sony's (NYSE:SNE) PlayStation Now and Nvidia's (NASDAQ:NVDA) GeForce Now - while would also be of interest to Electronic Arts (NASDAQ:EA), Activision Blizzard (NASDAQ:ATVI) and GameStop(NYSE:GME).
Projected dividend increases: Ameren (NYSE:AEE) to $0.49c from $0.4575, Goodyear (NYSE:GT) to $0.16 from $0.14, International Paper (NYSE:IP) to $0.49 from $0.475, Omnicom (NYSE:OMC) to $0.65 from $0.60, United Technologies (NYSE:UTX) to $0.74 from $0.70, Brown & Brown (NYSE:BRO) to $0.085 from $0.075, Maximus (NYSE:MMS) to $0.25 from $0.045, PolyOne (NYSE:POL) to $0.22 from $0.175, Thor Industries (NYSE:THO) to $0.40 from $0.37.
Cramer buzz: Constellation Brands (NYSE:STZ) CEO Bill Newlands and Canopy Growth (NYSE:CGC) CEO Bruce Linton are keynote speakers at the Jim Cramer Boot Camp for Investors on October 13. It's the kind of set-up that has boosted some stocks in the past. Pivotal Research already sees the Constellation-Canopy partnership as the best way to play the burgeoning cannabis-beverage industry.
Ethanol: President Trump treks to Iowa during the heat of the election season, meaning ethanol developments could be on their way. Keep an eye on Archer Daniels Midland (NYSE:ADM), Pacific Ethaniol (OTCPK:PIEX), Green Plains (NASDAQ:GPRE), REX American Resources (NYSE:REX), Marathon Petroleum (NYSE:MPC) and Delek US Holdings (NYSE:DK) to name a few.
M&A tidbits: Shareholders at SodaStream (NASDAQ:SODA) vote on the PepsiCo (NYSE:PEP) deal on October 8. A special meeting is set for October 10 at Web.com (NASDAQ:WEB) for holders to vote on the Siris Capital Group buyout offer. The merger between Energy XXI (NASDAQ:EGC) and Cox Oil is expected to close sometime during the week.
Remember Sears?: The company has some large debt payments to make on October 15 with notes maturing and interest due. There could be some liquidation action once again out of Sears Holdings (SHLD) to prepare for the payments. In case you missed it, Sears closed the week at $0.64 after being a $50 stock just five years ago.
Remember Barnes & Noble?: All signs points to Barnes & Noble (NYSE:BKS) being in play as the company evaluates strategic options. Starbucks (NASDAQ:SBUX), Amazon (NASDAQ:AMZN) and private equity firms are seen as potential bidders for the retail chain. Don't underestimate the potential for a surprise bidder to emerge like what happened when Coca-Cola (KO) jumped out to make its blockbuster $5.1B deal for U.K. coffeehouse chain Costa. While shares of B&N closed up 20% for the week to $6.95, some analysts see a buyout going off between $8 and $12 per share.
Drug data: Abstracts from the European Society for Medical Oncology Congress abstracts will be released on October 8, which could have implications for Incyte (NASDAQ:INCY), ImmunoGen (NASDAQ:IMGN), AVEO Pharmaceuticals (NASDAQ:AVEO) and Halozyme Therapeutics (NASDAQ:HALO). FDA briefing documents for Trevana's (NASDAQ:TRVN) NDA for oliceridine scheduled are due out on October 11. There is also a FDA meeting to discuss AcelRX Pharmaceutical's (NASDAQ:ACRX) Dsuvia on October 12.
Shipping conference: The Capital Link New York Maritime Forum on October 9 includes presentations from Genco Shipping & Trading (NYSE:GNK), Golden Ocean Group (NASDAQ:GOGL), Safe Bulkers (NYSE:SB), Seanergy Maritime (NASDAQ:SHIP), Star Bulk Carriers (NASDAQ:SBLK), Gaslog Partners (NYSE:GLOP), Tellurian (NASDAQ:TELL) and Phillis 66 (NYSE:PSX).
Global gaming expo: International Gaming Technology will be at the industry event hosted by the American Gaming Association to show its new stuff. IGT saw its estimates cut on Friday by Union Gaming after the firm noted some casino purchasing decisions were being delayed. However, analyst John DeCree and team kept a Buy rating in place with most of the downside seen as priced in by the market.
Extraordinary shareholder meeting: TPG Specialty (NYSE:TSLX) on October 8.
Box office: A big weekend is anticipated for the U.S. box office, with four films forecast to top $10M. Sony' (SNE) Venom ($60M), Warner Bros.' (NYSE:T) A Star Is Born ($46M), WB's Smallfoot ($15M) and Universal's (NASDAQ:CMCSA) Night School ($14M) are the films predicted to top the list.
Barron's mentions: The mid-term elections are the focus this week. CURO Group Holdings (NYSE:CURO), OneMain Holdings (NYSE:OMF), BWX Technologies (NYSE:BWXT) and FirstCash (NASDAQ:FCFS) are called out as some of the top picks if the Republicans hold Congress, while Fluor (NYSE:FLR), KBR (NYSE:KBR), Granite Construction (NYSE:GVA) and Martin Marietta (NYSE:MLM) are seen as good infrastructure plays if the Democrats take the house. The shakeout in the payments industry is dissected with Western Union (NYSE:WU) and MoneyGram International (NYSE:MGI) trying to make digital moves to break free of their low valuations and trade more like PayPal (NASDAQ:PYPL) and Square (NYSE:SQ). "PayPal may not be able to end the payments duopoly of Mastercard (NYSE:MA) and Visa (V), it can at least join it as a sort of junior member—and it trades at a similar valuation," writes Ben Walsh.
Sources: Nasdaq, The Verge, CNBC, EDGAR, Bloomberg.
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