Apple Looks To Recharge Tech Sector

|
Includes: AAPL, AAT, ABBV, AGN, AKAM, ALLO, AMD, AMGN, ASLN, AXNX, BABA, BAC, BCML, BIDU, BJRI, BLCM, BLUE, CBLK, CBS, CCOI, CGNX, CHDN, CMCSA, CMD, CTAS, CVX, DEA, DIS, DTE, EA, EBAY, EL, EPD, EQT, ESTC, ETON, F, FCAU, FIT, GE, GERN, GH, GM, GSS, GXYEF, HLF, HMC, HOME, HYMLF, IMGN, INCY, INN, INSP, JLL, KEY, KMI, KO, KOD, KR, LNC, LVS, MCY, MDLZ, MGM, MGNX, MLCO, MSC, MSI, MYL, NSANY, OLN, ORTX, OSK, P, PFE, PNGAY, PRT, QQQ, RAMP, RGR, ROAD, SBRA, SBUX, SGMO, SNE, SPY, STX, STXB, T, TCEHY, TM, TWST, TXN, UAA, UBX, UPWK, VWAGY, W, WDC, WYNN, X, XOM, YUMC, ZNGA
by: SA Stocks To Watch

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 are being put to the test with major indexes now down sharply on the year, despite some strong earnings reports being turned in from major players. While higher interest rates, a strong U.S. dollar and elevated fuel costs have been mentioned quite a bit on earnings conference call, the negative impact of tariffs has also been front and center in management commentary. Add that to the sting of a stock market now showing a loss for the year and there could be a bit more pressure next week on the White House to move quickly on setting up a meeting with China President Xi Jinping. Market watchers have already circled the China International Import Expo in Shanghai from November 5-10 and the Asia-Pacific Economic Cooperation leaders meeting November 17-18 in Papua New Guinea as potential Xi-Trump meet dates. If all else fails, Trump and Xi are also expected to meet for a bit at the G20 meeting at the end of November. On the economic calendar next week, the update on jobs and the U.S. trade deficit are the headliners on November 2.

Notable earnings reports: Akamai Technologies (NASDAQ:AKAM), Mondelez International (NASDAQ:MDLZ) and Olin Corp. (NYSE:OLN) on October 29; Under Armour (NYSE:UAA), eBay (NASDAQ:EBAY), General Electric (NYSE:GE), Coca-Cola (NYSE:KO), Pfizer (NYSE:PFE) and Electronic Arts (NASDAQ:EA) on October 30; Fitbit (NYSE:FIT), Zynga (NASDAQ:ZNGA) and General Motors (NYSE:GM) on October 31; Apple (NASDAQ:AAPL), Starbucks (NASDAQ:SBUX), Pandora (NYSE:P), Wayfair (NYSE:W), U.S. Steel (NYSE:X) and CBS (NYSE:CBS) on November 1; Alibaba (NYSE:BABA), Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX) and Seagate Technologies (NASDAQ:STX) on November 2. See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.

IPOs expected to price: The IPO market slows down a bit, with only about $500M worth of deals on the calendar. Watch for debuts from Eton Pharmaceuticals (NASDAQ:ETON) on October 29; Orchard Rx (NASDAQ:ORTX) and Twist Bioscience (NASDAQ:TWST) on October 30 and Axonics Modulation Technologies (NASDAQ:AXNX) on October 31.

IPO lockup expirations: PermRock Royalty Trust (NYSE:PRT) on October 29; Inspire Medical Systems (NYSE:INSP) and Unity Biotechnology (NASDAQ:UBX) on October 30; Baycom (NASDAQ:BCML), Spirit of Texas Bancshares (NASDAQ:STXB), Aslan Pharmaceuticals (NASDAQ:ASLN), Construction Partners (NASDAQ:ROAD) and Carbon Black (NASDAQ:CBLK) on October 31.

Analyst quiet period expirations: Upwork (NASDAQ:UPWK), Guardant Health (NASDAQ:GH) and Kodiak Sciences (NASDAQ:KOD) on October 29; Elastic (NYSE:ESTC) on October 30.

Jobs report: The final employment report before a U.S. election always captures a little bit more attention than normal. Economists expect the Labor Department to report a nonfarms payrolls rise of 190K to improve on last month's hurricane-influenced tally of 134K. The unemployment rate is expected to stay at 3.7%. The labor participation rate is seen arriving in at 62.7% and average hourly earnings are anticipated to rise 0.3% M/M and 3.1% Y/Y.

Apple event: Apple has a special event planned for October 30 at 10:30 ET at the Brooklyn Academy of Music. Speculation is running hot that new iPad Pro, a Mac mini update and a MacBook Air replacement will be part of the product reveal. Also, watch for news on AirPods and the long-awaited AirPower launch.

Spotlight on Kroger: The grocery store operator hosts an investor conference on October 29. All eyes will be on updates from the Cincinnati company on the Restock program, e-commerce initiatives and sales trends in Q4. Shares of Kroger (NYSE:KR) trade about 15% below their 52-week high.

Analyst/investor meetings: EQT Corporation (NYSE:EQT) and LiveRamp Holdings (NYSE:RAMP) on October 29, KeyCorp (NYSE:KEY) on October 30; Herbalife (NYSE:HLF) on October 31.

Projected dividend increases/decreases: AbbVie (NYSE:ABBV) to $1.05 from $0.96, Cintas (NASDAQ:CTAS) to $1.94 from $1.62, DTE Energy (NYSE:DTE) to $0.94 from $0.8825, Estee Lauder (NYSE:EL) to $0.42 from $0.38, GE (GE) to $0.03 from $0.12, Lincoln National (NYSE:LNC) to $0.36 from $0.33, Motorola Solutions (NYSE:MSI) to $0.58 from $0.52, American Assets Trust (NYSE:AAT) to $0.28 from $0.27, BJ's Restaurants (NASDAQ:BJRI) to $0.14 from $0.11, Cogent Comms (NASDAQ:CCOI) to $0.56 from $0.54, Cognex (NASDAQ:CGNX) to $0.05 from $0.045, Churchill Downs (NASDAQ:CHDN) to $1.75 from $1.52, Cantel Medical (NYSE:CMD) to $0.10 from $0.085, Easterly Government (NYSE:DEA) to $0.27 from $0.26, Summit Hotel (NYSE:INN) to $0.19 from $0.18, Jones Lang (NYSE:JLL) to $0.43 from $0.41, Mercury General (NYSE:MCY) to $0.6275 from $0.625, Oshkosh (NYSE:OSK) to $0.26 from $0.24, Sturm Ruger (NYSE:RGR) to $0.37 from $0.34, Sabra Health (NASDAQ:SBRA) to $0.47 from $0.45.

Analyst/investor meetings: The list of heavyweight speakers at the closely-watched conference running from October 29-30 includes hedge fund notables Starboard Value's Jeff Smith, Larry Robbins, Ray Dalio, Citadel's Ken Griffin, Stan Druckenmiller and Paul Tudor Jones II. Mohamed El-Erian is also due to talk, as well as General David H. Petraeus. Finally, there are two names pretty well known to the Seeking Alpha community set to speak, with Spruce Capital Management's Ben Axler and Lawrence Fossi (aka Montana Skeptic of Tesla (NASDAQ:TSLA) fame) on the publicly-posted agenda. There isn't a webcast of the event available, but if you keep an eye on the Seeking Alpha News feed you won't miss any of the stock idea callouts.

Drug developments: Abstracts are due out ahead of the American Society of Hematology annual meeting. Companies that could post trial data include Amgen (NASDAQ:AMGN), bluebird bio (NASDAQ:BLUE), Sangamo Therapeutics (NASDAQ:SGMO), Allogene Therapeutics (NASDAQ:ALLO), ImmunoGen (NASDAQ:IMGN), Bellicum Pharmaceuticals (NASDAQ:BLCM), Incyte (NASDAQ:INCY), Geron (NASDAQ:GERN) and MacroGenics (NASDAQ:MGNX). Also, keep an eye on Mylan (NASDAQ:MYL) with its resubmitted ANDA of its generic to Allergan's (NYSE:AGN) Restasis for dry eye due for FDA action.

U.S. auto sales: Manufacturers are scheduled to report on October U.S. sales on November 2. Edmunds expects sales to drop 6.7% Y/Y during the month to 1.322M units. While the comparison to last year is impacted by extra replacement vehicle demand in 2017 following Hurricane Harvey, the research firm notes higher interest rates and elevated dealer prices are also a factor. "The auto market has been so strong over the last several years it's easy to forget that a SAAR over 17 million is nothing to sneeze at," notes Edmunds analyst Jeremy Acevedo. October forecast by automaker - General Motors (GM) -8.8% to 231K, Toyota (NYSE:TM) +2.3% to 193K, Ford (NYSE:F) -5.0% to 190K, Fiat Chrysler (NYSE:FCAU) +9.2% to 168K, Honda (NYSE:HMC) -0.6% to 127K, Nissan (OTCPK:NSANY) -13.2% to 107K, Hyundai/Kia (OTCPK:HYMLF) +1.7% at 99K, Volkswagen (OTCPK:VWAGY) +1.2% to 48K.

Upcoming stock split: Golden Star Resources (NYSEMKT:GSS) will fire off a a 1-for-5 reverse stock split on October 30. The company's share count will be reduced from approximately ~544M shares to ~108.8M shares.

Macau The Gaming Inspection and Coordination Bureau will update on Macau gross gaming revenue numbers for October sometime during the first couple days of November. Revenue growth of between 1% and 5% is anticipated against a comparison to what was the strongest month of 2017. Wild swings of the hold rates in the VIP segment has thrown analysts off their game recently and adds a dose of volatility to the report - and down the road for Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF, LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY, MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Studio City International (NYSE:MSC) and Melco Resorts & Entertainment (NASDAQ:MLCO).

Casino battle in Florida: Voters in The Sunshine State are likely to hear quite a bit next week on Amendment 3 of the Florida Constitution, which would require 60% approval for any new casinos in the state - instead of letting politicians in Tallahassee make the decisions. The battle over Amendment 3 pits Disney (NYSE:DIS) and the Seminole Nation on the pro-side vs. potential casino operators such as MGM Resorts (NYSE:MGM) who oppose the high voter threshold.

Box office: Universal's (NASDAQ:CMCSA) Halloween is expected to dominate the U.S. box office for a 2nd straight weekend with a haul in the $28M to $30M range. Holdovers A Star is Born (NYSE:T) and Venom (NYSE:SNE) are expected to top $10M again.

Barron's mentions: Bank of America's (NYSE:BAC) conservative approach to picking modest revenue growth with expense controls over aggressive loan growth is called a positive for shareholders. The sell-off in At Home Group (NASDAQ:HOME) is said to give investors a second chance to get in on the bottom floor of a compelling growth story. Chip stocks are given a gloomy forecast after soft earnings reports. The publication notes that chip capacity cuts by Texas Instruments (NYSE:TXN) and Western Digital (NYSE:WDC) are troublesome, as well as AMD's (NASDAQ:AMD) warning on trade. Kinder Morgan (NYSE:KMI) and Enterprise Products Partner (NYSE:EPD) are seen benefiting from the "tectonic shift" in North American energy infrastructure. Finally, the cover story filters out the best bargains on China-focused stocks. Yum China (NYSE:YUMC), Ping An Insurance (OTCPK:PNGAY), Alibaba (BABA), Baidu (NASDAQ:BIDU) and Tencent Holdings (OTCPK:TCEHY) make the list.

Sources: Nasdaq, CNBC, EDGAR, Bloomberg.

Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.