Stocks To Watch: Retail On Display

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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.

Retailers cap off the Q1 earnings season in style as Target (NYSE:TGT), Best Buy (NYSE:BBY), Lowe's (NYSE:LOW) and Home Depot (NYSE:HD) all step up to the plate next week. Investors are still digesting the impact on retail of stinging tariffs amid a solid economy and Walmart's (NYSE:WMT) hint of higher consumer prices. The focus next week also turns back to the Federal Reserve, with FOMC minutes due out on May 22 along with speeches rolling in from Philadelphia Fed President Patrick Harker, New York Fed President John Williams, Boston Fed President Eric Rosengren and Fed Vice Chairman Clarida. Will any more corporate carveouts be announced as a potential remedy to global pressures to follow on Anheuser-Busch InBev's (NYSE:BUD) Asian operations IPO announcement and Volkswagen's (OTCPK:VWAGY) trucking unit IPO reveal? PMI prints will blaze in from Europe and the U.S. on May 23, while May 24 could be a snoozer with pre-Memorial Day trading volume typically low and the bond market closing early for the BBQ weekend.


Notable earnings reports: International Game Technology (NYSE:IGT) on May 20; Home Depot (HD); TJX Companies (NYSE:TJX), Monro (NASDAQ:MNRO), J.C. Penney (NYSE:JCP), Kohl's (NYSE:KSS), Urban Outfitters (NASDAQ:URBN), Toll Brothers (NYSE:TOL) and Nordstrom (NYSE:JWN) on May 21; Target (TGT), Lowe's (LOW), Williams-Sonoma (NYSE:WSM) and L Brands (NYSE:LB) on May 22; Splunk (NASDAQ:SPLK), Best Buy (BBY), Hewlett Packard Enterprises (NYSE:HPE) and HP Inc. (NYSE:HPQ) on May 23; Foot Locker (NYSE:FL) and Hibbett Sports (NASDAQ:HIBB) on May 24.See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.

Expected IPO pricings: The IPO market slows down just a bit this week after seeing Lyft (NASDAQ:LYFT), Uber (NYSE:UBER), Beyond Meat (NASDAQ:BYND) and Luckin Coffee (NASDAQ:LK) shake things up. Debuts are scheduled on May 22 for Rattler Midstream Partners (NASDAQ:RTLR), Peloton Therapeutics (PLTX), Ideaya Biosciences (NASDAQ:IDYA) and Bicycle Therapeutics (NASDAQ:BCYC). Over in Hong Kong, Xinyi Energy is slated to price on May 20.

IPO lockup expirations: TuanChe (NASDAQ:TC), Taiwan Liposome (NASDAQ:TLC) and Tiziana Life Sciences (NASDAQ:TLSA) on May 20.

Projected dividend changes (quarterly): DXC Technology (NYSE:DXC) to $0.20 from $0.19, NetApp (NASDAQ:NTAP) to $0.44 from $0.40, Tiffany (NYSE:TIF) to $0.60 from $0.55, Unum (NYSE:UNM) to $0.29 from $0.26, Donaldson (NYSE:DCI) to $0.20 from $0.19, Ensco Rowan plc (NYSE:ESV) to $0.01 from $0.04, Flowers Foods (NYSE:FLO) to $0.19 from $0.18, LCI Industries (NYSE:LCII) to $0.65 from $0.60, Lennox (NYSE:LII) to $0.75 from $0.64, Monro (MNRO) to $0.22 from $0.20, National Storage (NYSE:NSA) to $0.31 from $0.30, Universal Corp (NYSE:UVV) to $0.77 from $0.75.

M&A tidbits: The tender offer for MTY Food Group's acquisition of Papa Murphy's (NASDAQ:FRSH) expires on May 22. The merger between Navigators Group (NASDAQ:NAVG) stockholders is expected to close on May 23. Cray (NASDAQ:CRAY) will stay in the spotlight as some analysts expect a bidding war for the supercomputer company to break out following its $1.3B offer from HP Enterprise (HPE). Wynn Resorts (NASDAQ:WYNN) and MGM Resorts (NYSE:MGM) are also under the bright lights to see if a Boston casino deal is actually brewing.

Spotlight on Kraft: Bids are expected in by the end of the week from private equity firms and food groups for Kraft Heinz (NASDAQ:KHC) baby food brand Plasmon. Kraft's sale of Plasmon is part of a broad strategy to focus on global brands. The clock is also still ticking on Kraft's 2018 annual report filing. On the scoreboard, shares of Kraft are down 24% YTD vs. +23% for Post Holdings (NYSE:POST) and +35% for General Mills (NYSE:GIS).

Spotlight on Corteva: It's time to start talking about DowDuPont (DWDP) spinoff Corteva (NYSE:CTVA), which will trade on a "when-issued" basis next week ahead of a June 1 spinoff. DowDuPont holders will be awarded one share of Corteva stock for every three shares of DowDuPont held. The agriculture division of DowDuPoint guided for full-year flat sales growth and operating EBITDA of about $2.8B.

Analyst/investor meetings: Helen of Troy (NASDAQ:HELE) says it will discuss the accomplishments of Phase I of the company's transformation initiatives and introduce its Phase II long-term growth strategies at an investor day event on May 21. Zendesk (NYSE:ZEN) has an analyst event scheduled for May 22 and QuinStreet, Inc. (NASDAQ:QNST) says it will meet with investors in one-on-ones on May 20 in Baltimore and Philadelphia.

Collision: One of the fast-growing annual tech conferences takes place next week from May 20-23 in Toronto. Medium founder EV Willians, Shopify (NYSE:SHOP) CEO Tobias Lutke, Waymo (NASDAQ:GOOG) CTO Dmitri Dolgov, Kara Swisher and Canadian Prime Minister Justin Trudeau are scheduled to speak, as well as high-level reps from Microsoft (NASDAQ:MSFT), General Electric (NYSE:GE), Sonos (NASDAQ:SONO), Comcast (NASDAQ:CMCSA), Electronic Arts (NASDAQ:EA), Samsung (OTCPK:SSNF), Sony (NYSE:SNE). Also of interest, repping Canadian cannabis player Houseplant is Seth Rogen, while the motivational headliner is former NFL great Terrell Owens.

FAA watch: Boeing (NYSE:BA) is expected to submit a fix for its anti-stall software in a crucial step to land approval to fly 737 Max jets again.

FDA watch: Celgene (NASDAQ:CELG) is expected to find out if a new filing for ozanimod has been accepted by FDA for review. PDUFA dates are upcoming for Novartis (NYSE:NVS)-Regenxbio's (NASDAQ:RGNX) Zolgensma and Incyte (NASDAQ:INCY)-Novartis' Jakafi for patients with polycythemia vera.

Protein plays: The full impact of the African swine fever is likely to be a major topic next week after Nutrien (NYSE:NTR) CEO Chuck Magro warned demand for grains and oilseeds could be down for the next couple of years due to the loss of China's hog herd. Some of the companies impacted by the hog supply shock include Bunge (NYSE:BG), Archer Daniels Midland (NYSE:ADM), Deere (NYSE:DE), JBS (OTCQX:JBSAY) and Elanco Animal Health (NYSE:ELAN). AWS has already been a factor in the huge protein rally in 2019. In case you missed it, gains are being piled up by Pilgrim's Pride (NASDAQ:PPC) +84% YTD, Tyson Foods (NYSE:TSN) +54%, Sanderson Farms (NASDAQ:SAFM) +53%, Bridgford Foods (NASDAQ:BRID) +44%, BRF S.A. (NYSE:BRFS) +38%. Even next-gen protein player Beyond Meat (BYND) has more than tripled off its IPO price.

Short report: Stocks on volatility watch due to a +30% level of short interest to total float include Gogo (NASDAQ:GOGO), Overstock.com (NASDAQ:OSTK), Turtle Beach (NASDAQ:HEAR), Carvana (NYSE:CVNA), Funko (NASDAQ:FNKO), Revlon (NYSE:REV), Papa John's International (NASDAQ:PZZA), GameStop (NYSE:GME), Match Group (NASDAQ:MTCH), GoPro (NASDAQ:GPRO), Enphase Energy (NASDAQ:WATT) and Tesla (NASDAQ:TSLA).

SunTrust Robinson Humphrey 2019 Internet And Digital Media Conference: Mid-size tech firms trek to San Francisco from May 21-22 to present. Execs from Eros International (NYSE:EROS), Shutterfly (NASDAQ:SFLY), QuinStreet (QNST), Cardlytics (NASDAQ:CDLX), Angi Homeservices (NASDAQ:ANGI), GoDaddy (NYSE:GDDY), Wix (NASDAQ:WIX) and Frontdoor (NASDAQ:FTDR) are due to appear.

UBS Global Healthcare Conference Firms due to make an appearance during the May 20-22 event in New York City include PDL Biopharma (NASDAQ:PDLI), Verical (NASDAQ:VCEL), Invitae (NYSE:NVTA), Clearside Biomedical (NASDAQ:CLSD), Omeros (NASDAQ:OMER), NanoString (NASDAQ:NSTG), OraSure Technologies (NASDAQ:OSUR), Turning Point Therapeutics (NASDAQ:TPTX), Molecular Templates (NASDAQ:MTEM), Stealth BioTherapeutics (NASDAQ:MITO), Deciphera Pharmaceuticals (NASDAQ:DCPH), Exelixis (NASDAQ:EXEL), Masimo (NASDAQ:MASI), Bio-Techne (NASDAQ:TECH), Oxford Immunotec (NASDAQ:OXFD), Waters Corporation (NYSE:WAT), Alkermes (NASDAQ:ALKS), Alder BioPharmaceuticals (NASDAQ:ALDR), Codexis (NASDAQ:CDXS), Concert Pharmaceuticals (NASDAQ:CNCE), Hologic (NASDAQ:HOLX), Incyte (INCY), AbbVie (NYSE:ABBV), Abbott Laboratories (NYSE:ABT) and privately-held Rain Therapeutics.

UBS Global Oil & Gas Conference Presenters at the energy conference include Tidewater (NYSE:TDW), Hi-Crush Partners (HCLP), EOG Resources (NYSE:EOG) and Pioneer Natural Resources (NYSE:PXD).

Gaming expo: Scientific Games (NASDAQ:SGMS) is one of the presenters at the Global Gaming Expo in Macau. The company will highlight new and innovative slot game content and platforms, proprietary table games and utilities, electronic table systems, casino management systems solutions and its new digital and global leading sports betting products at the event.

Data watch: Videogame sales data is due out from NPD Group sometime in the middle of next week. Videogame sales have been over $1B for the last two months after a weak tally in January of about $893M (-19% Y/Y). Keep an eye on Nintendo (OTCPK:NTDOY), Sony (SNE), Microsoft (MSFT), Activision Blizzard (NASDAQ:ATVI), Electronic Arts (EA), Ubisoft Entertainment (OTCPK:UBSFY), GameStop (GME) as well as the PureFunds Video Game Tech ETF (NYSEARCA:GAMR).

Upcoming stock splits: A one-for-fifteen reverse stock split is set for Navios Maritime Partners (NYSE:NMM) on May 21. Fastenal (NASDAQ:FAST) has a two-for-one stock split scheduled for May 22.

Notable annual meetings: Amazon's meeting (NASDAQ:AMZN) set for Seattle on May 22 will feature a vote on proposals to curb sales of its controversial facial recognition product and a climate change proposal. Amazon is also feeling pressure to stop working for the oil and gas industry and to stop donating to members of Congress who vote against legislation to curb carbon emissions. Meanwhile, over at AIG (NYSE:AIG), advisory firms Institutional Shareholder Services and Glass Lewis & Co. have recommended that shareholders vote against compensation packages for the insurer's top executives. Other annual meetings on the calendar include Chipotle (NYSE:CMG) and JPMorgan (NYSE:JPM) on May 21, United Continental (NASDAQ:UAL) and Zendesk (ZEN) on May 22, as well as Mosaic (NYSE:MOS) on May 23.

Box office: Lionsgate's (NYSE:LGF.A) John Wick: Chapter 3 is expected to unseat Disney's (NYSE:DIS) Avengers: Endgame from the top seat at the U.S. box office by bringing in $48M. Avengers is forecast to tally $30M to top the $26M haul for Pokemon Detective Pikachu and add to its domestic smash and grab of $738M (#3 all-time).

Barron's mentions: Applied Materials (NASDAQ:AMAT), BorgWarner (NYSE:BWA), Charles Schwab (NYSE:SCHW), Regeneron Pharmaceuticals (NASDAQ:REGN) and Tapestry (NYSE:TPR) are identified as five cheap stocks to ride out the trade war. Take-Two Interactive (NASDAQ:TTWO) is profiled favorably by Tae Kim. The weak guidance issued by Pinterest (NYSE:PINS) is called a cardinal sin for a company reporting the first time after its IPO. "We wouldn’t be surprised to see Pinterest trade back above $30 a share, where it was before the earnings release. But investors better hope it can deliver the goods the next time around, when it reports in August," writes Al Root. Finally, Nordstrom (JWN) is called a can't miss bargain just ahead of its earnings report.

Sources: CNBC, Nasdaq, EDGAR, Reuters, Bloomberg, Variety