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 week ahead sees Apple (NASDAQ:AAPL) host its annual WWDC conference, Walmart (NYSE:WMT) hold its high-energy shareholder meeting, DuPont's return to standalone status and one of the biggest cancer meetings of the year roll on after launching over the weekend. On the economic calendar, the May jobs report is due out at the end of the week on June 7. Economists forecast 190K jobs adds for the month and see the unemployment rate trickling up to 3.7%. Average hourly wage growth is seen holding level at 3.2%. As for trade, the bottom line is that investors head into next week with $60B worth of Chinese tariffs now in effect, no formal high-level trade talks scheduled and the threat of tariffs on products from Mexico disrupting various sectors (and even potentially making it more expensive to cry into your beer if it's an import).
Notable earnings reports: Box (NYSE:BOX) on June 3; Salesforce.com (NYSE:CRM), GameStop (NYSE:GME), Tiffany (NYSE:TIF) and Guidewire Software (NYSE:GWRE) on June 4; Stitch Fix (NASDAQ:SFIX), Cloudera (NYSE:CLDR), Five Below (NASDAQ:FIVE), Campbell Soup (NYSE:CPB), MongoDB (NASDAQ:MDB) and American Eagle Outfitters (NYSE:AEO) on June 5; DocuSign (NASDAQ:DOCU), Vail Resorts (NYSE:MTN), J.M. Smucker (NYSE:SJM) and Beyond Meat (NASDAQ:BYND) on June 6. See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.
Analyst quiet period expirations: Trevi Therapeutics (NASDAQ:TRVI), Parsons (NYSE:PSN), HeadHunter (NASDAQ:HHR), Axcella Health (NASDAQ:AXLA), NextCure (NASDAQ:NXTC), Mayville Engineering (NYSE:MEC), Milestone Pharma (NASDAQ:MIST), South Plains Financial (NASDAQ:SPFI) and Cortexyme (NASDAQ:CRTX) on June 3; Sonim Technologies (NASDAQ:SONM) and Jiayin (NASDAQ:JFIN) on June 4.
Projected dividend changes (quarterly): Alexandria Real Estate (NYSE:ARE) to $1.00 from $0.97, Philip Morris (NYSE:PM) to $1.20 from $1.14, Tiffany (TIF) to $0.60c from $0.55, UnitedHealth (NYSE:UNH) to $1.08 from $0.90, Boyd Gaming (NYSE:BYD) to $0.07 from $0.06, Donaldson (NYSE:DCI) to $0.20 from $0.19, Universal Health Realty (NYSE:UHT) to $0.68 from $0.675.
WWDC: While Apple (AAPL) execs typically preview the company's upcoming operating systems and new services at its Worldwide Developers Conference, a hardware announcement on a 16-inch MacBook Pro is expected by some tech analysts to steal the show this year. On the software side, development updates on iOS 13, MacOS 10.1, WatchOS 6 and Siri could impress. There is also some speculation that details on the Apple Arcade gaming platform could be revealed. Shares of Apple are up 11% YTD heading into the highly-anticipated event. Keep an eye on Seeking Alpha's news feed for live updates.
M&A tidbits: The merger between Nightstar Therapeutics (NASDAQ:NITE) and Biogen (NASDAQ:BIIB) is expected to close on June 5. The go-shop period for Control4 (NASDAQ:CTRL) in relation to its buyout expires on June 7. Stocks with takeover talk swirling around them include CBS (NYSE:CBS), Viacom (NASDAQ:VIAB), Aramark (NYSE:ARMK), Wesco Aircraft (NYSE:WAIR) and Centene (NYSE:CNC).
Auto sector shakeup: Volkswagen (OTCPK:VWAGY) is looking to officially launch the stock market listing of its trucks unit Traton next week with a smaller deal than originally anticipated. Meanwhile, the merger proposal from Fiat Chrysler Automobiles (NYSE:FCAU) is expected to land Renault's (OTC:RNSDF) preliminary approval after the French automaker holds a briefing with partners Nissan (OTCPK:NSANY) and Mitsubishi Motors (OTCPK:MMTOF). The Mexico tariff wildcard is back front and center for automobile manufacturers and suppliers, with analysts noting that the highly integrated nature of the global automotive value chain leaves almost no participant in the industry untouched.
Analyst/investor meetings: Canadian National Railway (NYSE:CNI) hosts its analyst day on June 3 in Toronto. Bank of America Merrill Lynch says it expects the company to update its multi-year outlook for revenue, pricing and earnings growth - as well as delve into capital spending plans, which have been substantially more ambitious than its U.S. peers. CVS Health (NYSE:CVS) says it will provide an in-depth review on June 4 of strategies to drive long-term growth and enhance shareholder value, as well as discuss its near-term and long-term financial outlook. There is also Aptiv (NYSE:APTV) with its investor day set for June 4. Morgan Stanley says management is expected to provide an update to 2022 targets and introduce targets for 2025. Other meetings to watch include Joint Corp. (NASDAQ:JYNT) on June 3, Genuine Parts (NYSE:GPC) on June 4, Sherwin-Williams (NYSE:SHW) and Prudential Financial (NYSE:PRU) on June 5, as well as Reinsurance Group of America (NYSE:RGA) and Synchronoss Technologies on June 6.
ASCO: One of the biggest cancer meetings of the year is hosted by the American Society of Clinical Oncology. Running all weekend and into next week in Chicago, the list of companies presenting on their programs, data trials and results includes pharma giants and smaller biotechs. Watch for developments from Amgen (NASDAQ:AMGN), Koniklijke Philips (NYSE:PHG), AbbVie (NYSE:ABBV), Gritsone Oncology (NASDAQ:GRTS), Athenex (NASDAQ:ATNX), Arcus Biosciences (NYSE:RCUS), Varian Medical Systems (NYSE:VAR), GT Biopharma (OTCQB:GTBP), Veracyte (NASDAQ:VCYT), Progenics Pharmaceuticals (NASDAQ:PGNX), Corvus Pharmaceuticals (NASDAQ:CRVS), Blueprint Medicines (NASDAQ:BPMC), Constellation Pharmaceuticals (NASDAQ:CNST), Eisai (OTCPK:ESALY), Takeda Pharmaceuticals (NYSE:TAK), Incyte (NASDAQ:INCY), Jazz Pharmaceuticals (NASDAQ:JAZZ), Seattle Genetics (NASDAQ:SGEN), MacroGenics (NASDAQ:MGNX) and Vercayte (VCYT).
FDA watch: The PDUFA date for Merck's (NYSE:MRK) Zerbaxa bacterial pneumonia treatment arrives. Celgene (NASDAQ:CELG) and Acceleron Pharma (NASDAQ:XLRN) are expected to find out if luspatercept filings have been accepted for FDA review.
William Blair Growth Conference: The growth conference will feature companies spanning the market-cap spectrum in six sectors (consumer, global industrial infrastructure, global services, financial services/technology, healthcare and technology/media/communication). The list of participants includes e.l.f. Beauty (NYSE:ELF), Ecolab (NYSE:ECL), Pool (NASDAQ:POOL), Dolby Laboratories (NYSE:DLB), Goosehead Insurance (NASDAQ:GSHD), Guardant Health (NASDAQ:GH), Exelixis (NASDAQ:EXEL), ASGN (NYSE:ASGN), Amedisys (NASDAQ:AMED), SiteOne Landscape Supply (NYSE:SITE), Abiomed (NASDAQ:ABMD), Curtiss-Wright (NYSE:CW), Boingo Wireless (NASDAQ:WIFI), Zoetis (NYSE:ZTS), Box (BOX), HMS Holdings (NASDAQ:HMSY), Collegium Pharmaceuticals (NASDAQ:COLL), Fox Factory (NASDAQ:FOXF), Designer Brands (NYSE:DBI), Cubic (NYSE:CUB), Portola Pharmaceuticals (NASDAQ:PTLA), 8x8 Inc. (NYSE:EGHT), Hologic (NASDAQ:HOLX), TransUnion (NYSE:TRU) and TriNet Group (NYSE:TNET).
Spotlight on REITs: REITWeek sponsored by Nareit runs from June 4-6 in New York. The long list of companies in attendance includes American Homes 4 Rent (NYSE:AMH), American Tower (NYSE:AMT), Consolidated-Tomoka (NYSEMKT:CTO), Catchmark Timber Trust (NYSE:CTT), EastGroup Properties (NYSE:EGP), Equity Residential (NYSE:EQR), Hersha Hospitality (NYSE:HT), Kilroy Realty (NYSE:KRC), Lamar Advertising (NASDAQ:LAMR), Monmouth Real Estate (NYSE:MNR), Pennsylvania Real Estate Investment Trust (NYSE:PEI), Retail Properties of America (NYSE:RPAI), Rayonier (NYSE:RYN), Sabra Health Care (NASDAQ:SBRA), Global Self Storage (NASDAQ:SELF), Tanger Factory Outlet Centers (NYSE:SKT), STORE Capital (NYSE:STOR), Taubman Centers (NYSE:TCO), UMH Properties (NYSE:UMH), VEREIT (NYSE:VER), Washington Prime Group (NYSE:WPG), Weingarten Realty Investors (NYSE:WRI), Weyerhaeuser (NYSE:WY), Ashford Hospitality (NYSE:AHT), Braemar Hotels & Resorts (NYSE:BHR), CBL & Associates (NYSE:CBL), Crown Castle International (NYSE:CCI), CorEnergy Infrastructure (NYSE:CORR), Cousins Properties (NYSE:CUZ), Columbia Property Trust (NYSE:CXP), CoreCivic (NYSE:CXW), Federal Realty Investment Trust (NYSE:FRT), HCP (NYSE:HCP), Investors Real Estate Trust (NYSE:IRET), Kimco Realty (NYSE:KIM), Kite Realty Group (NYSE:KRG), PotlatchDeltic (NASDAQ:PCH), Pebblebrook Hotel Trust (NYSE:PEB), Regency Centers (NASDAQ:REG), Ryman Hospitality Properties (NYSE:RHP), RPT Realty (NYSE:RPT) and Sotherly Hotels (NASDAQ:SOHO).
U.S. auto sales: Select automakers are scheduled to report May U.S. sales numbers on June 3. Edmunds expects auto sales to fall 2.2% Y/Y during the month to 1.551M units even with incentive activity up around the Memorial Day holiday. "Automakers are still figuring out how to balance supply with declining demand, but incentive budgets aren't big enough for dealers to offer deep discounts on a consistent basis. And when those bargains go away, so do the shoppers," warns Edmunds analyst Jeremy Acevedo. Edmunds forecast by automaker - General Motors (NYSE:GM) -2.0% to 260K, Ford (NYSE:F) -4.0% to 231K, Toyota (NYSE:TM) -0.3% to 215K, Fiat Chrysler (FCAU) -7.2% to 199K, Honda (NYSE:HMC) -3.1% to 148K, Hyundai/Kia (OTCPK:HYMLF) +1.9% to 128K, Nissan (OTCPK:NSANY) -6.8% to 123K, Volkswagen/Audi (OTCPK:VWAGY) -2.2% to 49K, Tesla (NASDAQ:TSLA) 13,570 units (+0.9% market share).
Macau: The Gaming Inspection and Coordination Bureau will publish Macau gross gaming revenue numbers for May during the first few days of June. Analysts forecast GGR will increase between 2% and 4%. 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 (NYSE:MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Melco Resorts & Entertainment (NASDAQ:MLCO) and Studio City International (NYSE:MSC).
Data watch: Firearm background check data is due out from the FBI's National Instant Criminal Background Check System next week. Sturm, Ruger (NYSE:RGR), Vista Outdoor (NYSE:VSTO) and American Outdoor Brands (NASDAQ:AOBC) frequently trade with extra volatility after the monthly check on demand.
Amusing stuff: While the biggest development in the amusement park sector is the opening of Star Wars: Galaxy's Edge at Disneyland, early summer traffic reports from analysts on all the Disney (NYSE:DIS), Six Flags (NYSE:SIX), SeaWorld (NYSE:SEAS) and Cedar Fair (NYSE:FUN) properties could be crucial in gauging the impact of this year's price increases. Execs from Cedar Fair and Six Flags will also be on the mike this week at the Goldman Sachs Lodging, Gaming, Restaurant and Leisure Conference.
Notable annual meetings: Walmart (WMT) will host a formal business meeting focused on shareholder voting on proxy proposals on June 5 followed by the company’s traditional event for associates and shareholders on June 7. CEO Doug McMillon typically takes some Q&A during the high-energy employee event and celebrities sometimes pop in. Presidential candidate Bernie Sanders isn't listed on the agenda but is expected to attend the meeting to push for improved compensation and employee representation on the board. The retail giant rides into the meeting up 22% over the last 52 weeks
Stock splits: DowDuPont (DWDP) will enact a 1-for-3 reverse stock split after the separation of the company's agriculture business. The company will also officially change its name to DuPont de Nemours (doing business as DuPont for short) on June 1 in connection with the intended Corteva (NYSE:CTVA) distribution. DuPont's common stock will trade on the New York Stock Exchange under the symbol DD beginning on June 3. The finalized split between Dow (NYSE:DOW), DuPont and Corteva could lead to some investors adjusting their portfolios if they prefer one of the businesses in particular.
Box office: Godzilla: King of the Monsters is tipped to bring in $50M to $55M in its opening weekend in the U.S. and over $230M globally for Warner Bros (NYSE:T) and Legendary Entertainment. Disney's Aladdin is forecast to kick up another $38M, while Paramount's (NASDAQ:VIA) Elton John biopic Rocketman is seen debuting with a $25M haul in U.S and $45M globally. Despite the strong performance of tentpoles, the YTD box office tally of $4.424B through May 29 is down 9.3% compared to a year ago.
Barron's mentions: Carl Icahn's activist attack on Occidental Petroleum (NYSE:OXY) is seen as a positive for shareholders, while the number-crunching on Berkshire Hathaway's (BRK.A, BRK.B) Kraft Heinz (NASDAQ:KHC) investment is highlighted to be deeply on the negative side of the ledger. Broadcom (NASDAQ:AVGO) is called attractive due to its forward PE multiple of 11 and dividend yield of 4.2%. Looking at auto, the sharp drops in General Motors (GM), Ford (F) and Delphi Technologies (NYSE:DLPH) on Friday over Mexico tariff concerns are called a possible overreaction. Meanwhile, Beyond Meat (BYND) is tagged as downright pricey. "Even if the market for alternative meat explodes and Beyond Meat outsells rivals, it is no sure thing that the company can maintain the growth required to justify today’s valuation," warns Al Root. Finally, Compass Diversified Holdings (NYSE:CODI) is called an investment that can balance the opportunity and risk in small-caps through its various holdings.
Sources: CNBC, EDGAR, The Verge, Bloomberg, Variety