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 U.S. will send a high-level delegation to Beijing next week as trade negotiations with China continue. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are making the trip to meet with Chinese Vice Premier Liu He. Meanwhile in D.C., don't laugh, but infrastructure is getting teed up again as a potential area of bipartisan cooperation. Nancy Pelosi and Chuck Schumer plan to meet with President Trump to discuss details. Also in Washington, the FOMC meeting is due to be capped off by a Jerome Powell presser on May 1 at 2:30 pm. ET. On the economic front, non-farms payrolls numbers are due out May 3. Economists expect the U.S. economy to have added 180K jobs in April to fall back just a bit from the 196K adds in March. The unemployment rate is seen staying level at 3.8% and average hourly earnings are seen bumping up (+0.3% month-to-month, +3.4% year-over-year). Of course, it's another crunching week for earnings, as Apple, Alphabet and McDonald's all get the bright spotlight. And for any microcap-minded investors out there, check out some of the conferences listed below for presentations by under-the-radar companies
Notable earnings reports: Alphabet (NASDAQ:GOOGL), Spotify (NYSE:SPOT), NXP Semiconductors (NASDAQ:NXPI), Western Digital (NASDAQ:WDC) and MGM Resorts (NYSE:MGM) on April 29; Apple (NASDAQ:AAPL), Advanced Micro Devices (NASDAQ:AMD), General Electric (NYSE:GE), McDonald's (NYSE:MCD), ConocoPhillips (NYSE:COP), General Motors (NYSE:GM), Pfizer (NYSE:PFE) and Mastercard (NYSE:MA) on April 30; Square (NYSE:SQ), Qualcomm (NASDAQ:QCOM), Fitbit (NYSE:FIT), CVS Health (NYSE:CVS) and Zynga (NASDAQ:ZNGA) on May 1; Activision Blizzard (NASDAQ:ATVI), Gilead Sciences (NASDAQ:GILD), Under Armour (NYSE:UAA) and Arista Networks (NYSE:ANET) on May 2; Noble Energy (NYSE:NBL), Newell Rubbermaid (NASDAQ:NWL) and Celgene (NASDAQ:CELG) on May 3. See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.
Expected IPO pricings: Beyond Meat (NASDAQ:BYND) is expected to price its IPO on May 1 amid an interesting scene in which Tyson Foods (NYSE:TSN) exited its position just ahead of the offering. Tyson's plans to develop its own meatless proteins is said to have ratcheted up concerns that Tyson might try to interfere with Beyond Meat's future M&A plans. Also on the IPO calendar this week are Trevi Therapeutics (NASDAQ:TRVI), TransMedics (NASDAQ:TMDX) and So-Young (NASDAQ:SY) with expected pricings on May 1 - as well as Yunji (NASDAQ:YJ) and Sciplay (NASDAQ:SCPL) on May 2. Of course, the biggest IPO beast of all is Uber (NYSE:UBER), which plans to raise between $7.9B to $9.0B to value the company at ~$84B. The pricing isn't anticipated until May 9, but there will be plenty of Uber-watching with PayPal (NASDAQ:PYPL) now an investor and Lyft (NASDAQ:LYFT) about to get a trading peer. Uber's road show next week makes stops in London, Boston, San Francisco and New York.
IPO quiet period expirations: Tradeweb (NASDAQ:TW), NGM Biopharmaceuticals (NASDAQ:NGM), Silk Road Medial (NASDAQ:SILK), Ruhn (NASDAQ:RUHN) on April 29; Guardion Health Sciences (NASDAQ:GHSI) on May 3.
Projected dividend changes (quarterly): Apple (AAPL) to $0.79 from $0.73, Costco (NASDAQ:COST) to $0.62 from $0.57, IBM (NYSE:IBM) to $1.64 from $1.57, Marriott International (NASDAQ:MAR) to $0.43 from $0.41, PepsiCo (NASDAQ:PEP) to $1.01 from $0.9275, Tractor Supply (NASDAQ:TSCO) to $0.35 from $0.31, American Campus (NYSE:ACC) to $0.48 from $0.46, Barnes Group (NYSE:B) to $0.18 from $0.16, Cogent Comms (NASDAQ:CCOI) to $0.60 from $0.58, Community Healthcare Trust (NYSE:CHCT) to $0.41 from $0.4075, Federal Signal (NYSE:FSS) to $0.09c from $0.08c, Healthcare Services (NASDAQ:HCSG) to $0.1975 from $0.1963, Jones Lang (NYSE:JLL) to $0.42 from $0.41, Legg Mason (NYSE:LM) to $0.36 from $0.34, ManpowerGroup (NYSE:MAN) to $1.08 from $1.01, MDC Holdings (NYSE:MDC) to $0.30 from $0.2778, Materion (NYSE:MTRN) to $0.11 from $0.105, Opus Bank (NASDAQ:OPB) to $0.12 from $0.11, Pool Corp (NASDAQ:POOL) to $0.51 from $0.45, Regal Beloit (NYSE:RBC) to $0.30 from $0.28, RLI (NYSE:RLI) to $0.23 from $0.22, Simpson (NYSE:SSD) to $0.24 from $0.22, Tetra Tech (NASDAQ:TTEK) to $0.14 from $0.12, UGI (NYSE:UGI) to $0.30 from $0.26.
Spotlight on McDonald's: The restaurant chain is looking to build off of last year's 2.5% increase in comparable sales. Q1 consensus estimates on McDonald's (MCD) currently stand at revenue of $4.94B and EPS of $1.76. Look for McDonald's execs to talk up the strategy to switch away from signature-crafted burgers to double down on quarter pounders again.
Spotlight on Apple: Cupertino will be the focus of the tech sector when Apple (AAPL) spills numbers on April 29. Analysts expect revenue near the midpoint of Apple's guidance range of $55B to $59B (-5% to -6% Y/Y), EPS of $2.38 and 40M iPhone shipments. Also of interest will be the company's performance in China after price cuts on the iPhone XR. "While iPhone XS continues to be focused on premium price points, the linchpin on this upgrade cycle was XR within the China region representing roughly 20% of all iPhones in the window of an upgrade opportunity," observes Wedbush analyst Dan Ives.
M&A tidbits: A termination date for the Sprint (NYSE:S) merger with T-Mobile (NASDAQ:TMUS) arrives on April 29, although it can be extended until October 29. Bemis (BMS) shareholders are scheduled to vote on the company's merger with Amcor (OTCPK:AMCRF) on May 2. Keep an eye on Zayo (NYSE:ZAYO) after a couple of cancellations from analyst events.
U.S. auto sales: Select automakers are scheduled to report April U.S. sales numbers on May 2. Edmunds expects auto sales to increase 0.3% Y/Y during the month to 1.357M units on more strength in the pickup segment. On a cautionary note, Edmunds analyst Jeremy Acevedo observes inventory levels in April are expected to top 4.1M to mark their highest level since June 2017. "Manufacturers might start to spend more on incentives to move inventory as we head into the summer selling season," he warns. Edmunds forecast by automaker - General Motors (GM) -0.6% to 237K, Ford (NYSE:F) -5.8% to 192K, Toyota (NYSE:TM) -0.4% to 192K, Fiat Chrysler (NYSE:FCAU) -6.1% to 173K, Honda (NYSE:HMC) -0.2% to 125K, Hyundai/Kia (OTCPK:HYMLF) -1.0% to 105K, Nissan (OTCPK:NSANY) +13.3% to 99K, Volkswagen/Audi (OTCPK:VWAGY) +4.1% to 50K, Tesla (NASDAQ:TSLA) 11,668 units.
Macau: The Gaming Inspection and Coordination Bureau will publish Macau gross gaming revenue numbers for April during the first few days of May. Analysts are all over the map with their GGR forecasts, with revenue seen falling by as much as 10% or as little as 3%. Names to watch for volatility include Wynn Macau (OTCPK:WYNMF,OTCPK:WYNMY, Wynn Resorts (NASDAQ:WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), Las Vegas Sands (NYSE:LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY), MGM Resorts (MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Melco Resorts & Entertainment (NASDAQ:MLCO) and Studio City International (NYSE:MSC).
F8: Facebook's (NASDAQ:FB) annual developer conference runs from April 30 to May 2. Topics include WhatsApp, Messenger, Oculus, AR, Instagram, gaming, research and monetization. New VR products announcements are also anticipated. Also, watch for potential news on a cross-platform message feature. Catching quite a bit of attention will be Mark Zuckerberg's keynote address with privacy and security issues in the forefront. Shares of Facebook head into F8 on a +40% YTD tear.
Drug data watch: ALDX to present Phase 2b data of reproxalap eye drop in dry eye disease at Association for Research in Vision and Ophthalmology meeting on May 1. There are also Pdufa dates for Heron Therapeutics' (NASDAQ:HRTX) HTX-011 postoperative pain treatment and Nabriva Therapeutics (NASDAQ:NBRV) Contepo first-line treatment for complicated urinary tract infections.
Planet MicroCap Showcase: Microcaps companies gather in Las Vegas from April 30-May 2 to present to finance professionals and investors. Some of the companies on the agenda include ARC Group (OTCQB:ARCK), Orgenesis (NASDAQ:ORGS), Electra Meccahnica Vehicles (NASDAQ:SOLO), Paragon Technologies (OTCPK:PGNT), Growlife (OTCQB:PHOT), SRAX (NASDAQ:SRAX), Concierge Technologies (OTCQB:CNCG), Pro-Dex (NASDAQ:PDEX), First Food Group (OTCQB:FIFG), ShiftPixy (NASDAQ:PIXY), NanoViricide (NYSEMKT:NNVC), Cannabis Pharmaceuticals (OTCQB:CNBX), Hemispherx BioPharma (NYSEMKT:HEB), Broadwind Energy (NASDAQ:BWEN), BlackBox Stocks (OTCPK:BLBX), Amira Natural Foods (NYSE:ANFI) and DPW Holdings (NYSEMKT:DPW).
Bloom Burton Healthcare Investor Conference: Canadian healthcare companies are the focus of the event in Toronto from April 30-May 1. Participating companies include Profound Medical (OTCQX:PRFMF), Medexus Pharmaceuticals (OTCPK:PDDPF), Nuco Pharmaceuticals (OTCQX:NRIFF), Titan Medical (NASDAQ:TMDI), Oncoltyics (NASDAQ:ONCY), Zymeworks (NYSE:ZYME), Crescita Therapeutics (OTC:CRRTF), ImmunoPrecise Antibodies (OTCQB:IPATF), IMV (NASDAQ:IMV) and Apto Biosciences (NASDAQ:APTO).
ThinkEquity Conference: Another conference running next week with a healthy dose of smaller companies is the ThinKEquity Conference in New York City. Look for potential news out of Sachem Capital (NYSEMKT:SACH), Streamline Health Solutions (NASDAQ:STRM), Intellicheck (NYSEMKT:IDN), Cannabic Pharmaceutical (OTCQB:CNBX), Catasys (NASDAQ:CATS), FLYHT (OTCQX:FLYLF), Jardine Matheson (OTCPK:JMHLY), MYnd Analytics (NASDAQ:MYND), Amira Nature Foods (ANFI), TangoMe (TANGO), Catlin Group (OTCPK:CLNGF), BioVie (OTCQB:BIVI) and KULR Technology Group (OTCQB:KUTG).
Upcoming stock splits: Computer Services has a two-for-one stock split in the form of a stock dividend scheduled for April 30. Meanwhile, Danaos Corporation (NYSE:DAC) has a one-for-fourteen reverse stock split on the books for May 2.
Notable annual meetings: Boeing (NYSE:BA), Dish Network (NASDAQ:DISH), Honeywell (NYSE:HON), Planet Fitness (NYSE:PLNT) and Bio-Rad Laboratories (NYSE:BIO) on April 29; U.S. Steel (NYSE:X) on April 30; MGM Resorts (MGM) on May 1; New York Times (NYSE:NYT) and Halozyme Therapeutics (NASDAQ:HALO) on May 2; AbbVie (NYSE:ABBV) on May 3.
Box office: The projections for Disney's (NYSE:DIS) Avengers: Endgame are in dreamland, with some forecasters marking down numbers as high as $275M to $300M for the opening U.S. weekend at 4.6K theaters (includes over 3.9K 3D locations, 410 IMAX screens, 785 premium large format screens and 250 D-Box/4D locations). Avengers has already set the U.S. Thursday evening record, China opening day record and Fandango preorder record. AMC Entertainment (NYSE:AMC), Cinemark (NYSE:CNK) and Marcus Corporation (NYSE:MCS) all showed gains on Friday, while IMAX (NYSE:IMAX) slumped after earnings. Hasbro (NASDAQ:HAS) is also looking for an Avengers bounce in Q2.
Barron's mentions: Microsoft's (NASDAQ:MSFT) visit to the $1T market cap club is dissected by the publication. While Apple and Amazon didn't stay above the mark for long, MSFT is given a solid chance due to its recurring transactions model as a cloud giant. Consumer staples are given credit for performing well during the earnings season. Kimberly-Clark (NYSE:KMB), Hershey (NYSE:HSY) and Colgate-Palmolive (NYSE:CL) are observed to be riding the power of their well-known brand names in a strong consumer economy. The lagging share price of Berkshire Hathaway is questioned by Jack Hough. He notes that Warren Buffett continues to sit on more than $110B of cash in what may be a fruitless quest for what he has called an "elephant-size" acquisition.
Sources: Nasdaq, EDGAR, Reuters, CNBC, Bloomberg, Box Office Mojo