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. A podcast of Stocks to Watch is also available on Sundays on Seeking Alpha, iTunes, Stitcher and Spotify.
Traders head into next week with tariffs on imports from Mexico off the plate and the federal funds market pricing in an 80% chance of an interest rate cut before the end of July. Fed watchers can actually take a breather next week with Federal Reserve members in a blackout period ahead of the next FOMC meeting on June 18-19, but that doesn't mean important economic numbers won't stop pouring in. China releases trade gap numbers, while in the U.S. reports on consumer prices, retail sales and the latest read on consumer sentiment will all be closely watched.
Notable earnings reports: Thor Industries (NYSE:THO) on June 10; Dave & Buster's Entertainment (NASDAQ:PLAY), Casey's General Stores (NASDAQ:CASY), RH (NYSE:RH) on June 11; Lululemon (NASDAQ:LULU), HEXO (NYSEMKT:HEXO) and Tailored Brands (NYSE:TLRD) on June 12; Broadcom (NASDAQ:AVGO) and Duluth Holdings (NASDAQ:DLTH) on June 13 and Cheetah Mobile (NYSE:CMCM) on June 14.See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.
IPO watch: Crowdstrike (NASDAQ:CRWD), Fiverr International (NYSE:FVRR) and Chewy (NYSE:CHWY) are all expected to price this week amid what's been a hit or miss IPO market. Cybersecurity specialist Crowdstrike already boosted the top end of its pricing range by 30% amid strong demand. Meanwhile, Gig-economy player Fiverr is hoping to follow in the path of competitor Upwork (NASDAQ:UPWK) with a huge first-day pop. Online pet food seller Chewy is looking to raise over $100M with its offering at a proposed valuation of over $7B. Chewy's revenue grew 75% in FY18 to $3.5B and the company recorded a net loss of $267M. Owner PetSmart will still own 70% of the total Chewy shares outstanding and 77% of the voting power following the IPO. In Hong Kong, Anheuser-Busch InBev (NYSE:BUD) is looking for listing approval for Budweiser Brewing Company APAC.
IPO quiet period/lockup expirations: There are share price lockup expirations arriving on Tencent Music (NYSE:TME) on June 10 and both Legacy Housing (NASDAQ:LEGH) and 360 Finance (NASDAQ:QFIN) on June 11. Quiet period expirations on tap include Applied Therapeutics (NASDAQ:APLT) and Postal Realty Trust (NYSE:PSTL) on June 10, as well as Avantor (NYSE:AVTR), Luckin Coffee (NASDAQ:LK) and Fastly (NYSE:FSLY) on June 11.
Projected dividend changes (quarterly): FedEx (NYSE:FDX) to $0.80 from $0.65, H&R Block (NYSE:HRB) to $0.26 from $0.25, Realty Income (NYSE:O) to $0.2265 from $0.226, Target (NYSE:TGT) to $0.66 from $0.64, Casey's General Stores (CASY) to $0.31 from $0.29, National Fuel Gas (NYSE:NFG) to $0.435 from $0.425, Universal Health Realty (NYSE:UHT) to $0.68 from $0.675.
E3: The Electronics Entertainment Expo takes place in Los Angeles from June 12 to June 14. Microsoft (NASDAQ:MSFT) is planning to have its biggest E3 ever with Xbox game previews, while Square Enix (OTCPK:SQNXF), Ubisoft (OTCPK:UBSFY) and Nintendo (OTCPK:NTDOY) also have press conferences scheduled. Electronic Arts (NASDAQ:EA) will be showing off Star Wars Jedi: Fallen Order and some of its upcoming sports games on its EA Play stream, while Sony (NYSE:SNE) is notably skipping the event this year. In conjunction with E3, Fortnite is hosting a two-day pro-am celebrity competition and AMD (NASDAQ:AMD) plans to hold an event to unveil the next generation of AMD gaming products. Google (NASDAQ:GOOGL) jumped in early on E3 buzz week by announcing launch details on its Google Stadia platform.
M&A tidbits: Amcor's (OTCPK:AMCRF) $6.8B acquisition of Bemis (BMS) is schedulde to close on June 10. The shopping period for Barnes & Noble (NYSE:BKS) in relation to its buyout by Elliott Advisors expires on June 13. Also in the M&A mix, things appear to be heating up on the Caesars Entertainment (NASDAQ:CZR)-Eldorado Resorts (NASDAQ:ERI) deal and cooling off for Dean Foods (NYSE:DF). Meanwhile, DuPont (NYSE:DD) is already building up its M&A team.
Tesla shareholder meeting: While no dramatic announcements are expected from Tesla (NASDAQ:TSLA) during its annual meeting on June 11, there could be some rallying of the troops. "After what has been a brutal six months for Tesla and its shareholders, we expect Tuesday to be a positive event as Musk and the Tesla team showcase the strides they have made so far on production and new Model designs (Model Y on the docket for next year) to further catalyze demand, while also highlighting some of the challenges ahead which they expect to navigate," previews Wedbush's Daniel Ives. Tesla closed on Friday at $204.50.
Cannabis catalyst: HEXO's (HEXO) earnings report is seen by Bank of America Merrill Lynch as a potential catalyst for the cannabis sector with Quebec trends expected to be reported as strong. BAML rides into the HEXO report with Buy ratings on HEXO, Aurora Cannabis (NYSE:ACB) and Canopy Growth (NYSE:CGC).
Key analyst/investor meetings: Meetings this week include TherapeuticsMD (NASDAQ:TXMD) providing updates on the company's commercial programs at an event on June 10 and Cubic's (NYSE:CUB) executive leadership team highlighting the company's strategy, operations and financial targets on June 13. The spotlight will be on Campbell Soup's (NYSE:CPB) management team during an presentation on June 13. Analysts meetings are also scheduled for CarGurus (NASDAQ:CARG) on June 11, as well as Nova (NASDAQ:NVMI) and Cutera (NASDAQ:CUTR) on June 14. There is also Bank of America Merrill Lynch hosting meetings with management teams from both UPS (NYSE:UPS) and XPO Logistics (NYSE:XPO). Those takeaways could even ripple across other logistics names such as FedEx (FDX), United Rentals (NYSE:URI) and Roadrunner Transportation Systems (NYSE:RRTS). Finally, Uber (NYSE:UBER) CEO Dara Kohsrowshahi is scheduled to give a talk at The Economic Club of Washington, D.C. on June 11.
New boss at Best Buy: Corie Barry becomes the first female CEO at Best Buy when she formally takes over the position on June 10 to replace Hubert Joly. Barry is credited with assisting Joly in Best Buy's growth turnaround while she served as BBY’s chief financial and strategic transformation officer. Shares of Best Buy are up 21% YTD.
Nerdy stuff: The Roundhill BITKRAFT Esports & Digital Entertainment ETF begins its first full week of trading. The fund carries the memorable ticker NERD. The index consists of 25 companies involved in esports or related activities, including Huya (NYSE:HUYA), Activision Blizzard (NASDAQ:ATVI), Take-Two Interactive ((NASDAQ:TTWO) and Turtle Beach (NASDAQ:HEAR). NERD isn't alone in tracking video game stocks, the VanEck Vectors Video Gaming and eSports ETF (NYSEARCA:ESPO) launched last October and the PureFunds Video Game Tech ETF (NYSEARCA:GAMR) is three years old.
Drug data: Abbvie (NYSE:ABBV) is presenting data on the company's oncology portfolio medicines at the European Hematology Association Annual Congress on June 13-16 in Amsterdam. Also presenting drug data at the event are Global Blood Therapeutics (NASDAQ:GBT), bluebird bio (NASDAQ:BLUE) and BeiGene (NASDAQ:BGNE). The FDA action date for Merck's (NYSE:MRK) Keytruda treatment also arrives this week.
Goldman Sachs 40th Annual Global Healthcare Conference The huge healthcare event in Rancho Palos Verdes, California includes appearances by Tricida (NASDAQ:TCDA), BioMarin (NASDAQ:BMRN), Aimmune (NASDAQ:AIMT), Myriad Genetics (NASDAQ:MYGN), BeiGene (BGNE), United Therapeutics (NASDAQ:UTHR), Sarepta Therapeutics (NASDAQ:SRPT), Array BioPharma (NASDAQ:ARRY), Revance (NASDAQ:RVNC), Neurocrine Biosciences (NASDAQ:NBIX), Bristol-Myers (NYSE:BMY), Edwards Lifesciences (NYSE:EW), Acadia Pharmaceuticals (NASDAQ:ACAD), Radius Health (NASDAQ:RDUS), Turning Point Therapeutics (NASDAQ:TPTX), Momenta Pharmaceuticals (NASDAQ:MNTA), Madrigal Pharmaceuticals (NASDAQ:MDGL), GW Pharmaceuticals (NASDAQ:GWPH), Sage Therapeutics (NASDAQ:SAGE), Amarin (NASDAQ:AMRN), Bio-Rad (NYSE:BIO), Charles River Laboratories (NYSE:CRL), Kaleido Biosciences (NASDAQ:KLDO) and Humana (NYSE:HUM).
Stifel 2019 Cross Sector Insight Conference: The hodge-podge of companies due to present in Boston from June 10-12 include Spartan Motors (NASDAQ:SPAR), KEMET (NYSE:KEM), REV GRoup (NYSE:REVG), Caesarstone (NASDAQ:CSTE), Avalara (NYSE:AVLR), ACM Research (NASDAQ:ACMR), Vishay Interactive (NYSE:VSH), NetApp (NASDAQ:NTAP), Etsy (NASDAQ:ETSY), Cronos Group (NASDAQ:CRON), Analog Devices (NASDAQ:ADI), Sensata Technologies (NYSE:ST), Astec Industries (NASDAQ:ASTE), Iron Mountain (NYSE:IRM), Dycom Industries (NYSE:DY), Manitowoc (NYSE:MTW), La-Z-Boy (NYSE:LZB), Deckers Brands (NYSE:DECK), Hanesbrands (NYSE:HBI), S&P Global (NYSE:SPGI), Advanced Energy (NASDAQ:AEIS), Crocs (NASDAQ:CROX), Green Thumb Industries (OTCQX:GTBIF), Six Flags Entertainment (NYSE:SIX), Silicon Labs (NASDAQ:SLAB), Texas Instruments (NASDAQ:TXN), VMware (NYSE:VMW), Carbonite (NASDAQ:CARB), Nanometrics (NASDAQ:NANO) and Vectrus (NYSE:VEC).
Union vote: Volkswagen (OTCPK:VWAGY) workers at the automaker's plant in Chattanooga, Tennessee are scheduled to vote next week on forming a union. U.S. Senator Marsha Blackburn is trying to rally support in voting down the measure as it was in 2014 and 2015. "We don’t need union bosses in Detroit telling Tennessee what's best for our workers," she stated. Volkswagen is planning on using the Chattanooga plant for electric vehicle production.
Restaurant watch: The list of chains trying out new vegan options keeps growing as White Castle, TGI Fridays, Del Taco Restaurants (NASDAQ:TACO), Carl’s Jr. and Red Robin Gourmet Burgers (NASDAQ:RRGB) have all introduced Beyond Meat (NASDAQ:BYND) and Impossible Foods (IMPSBL) products. Burger King (NYSE:QSR) also ran a successful Impossible Whopper campaign and reports are pouring in indicating interest by McDonald's (NYSE:MCD) in the meatless menu concept. It wouldn't be a surprise if more chains don't try to capitalize on the buzz next week. In the meantime, shares of Beyond Meat have been bid up to as high as $137.04 after debuting at $25.00 and Impossible Foods has been valued over $2B to give investors something to chew on.
Monthly sales reports: Ameritrade (NASDAQ:AMTD) on June 11.
Stock splits Air T's (NASDAQ:AIRT) 50% stock dividend (three-for-two split) becomes effective on June 10. Hemispherx Biopharma (NYSEMKT:HEB) executes its 1-for-44 reverse split on June 10 after the close. Cemtrex (NASDAQ:CETX) fires off a one-for-six reverse stock split on June 13.
Box office: Universal's (NASDAQ:CMCSA) The Secret Life of Pets 2 is expected top the box office this weekend by bringing in $50M to $55M across over 4.6K theaters. Fox's (NASDAQ:FOXA) Dark Phoenix is forecast to haul in $40M, while Disney's (NYSE:DIS) Aladdin is seen generating $25M and Warner's (NYSE:T) Godzilla: King of the Monsters another $18M.
Barron's mentions: JPMorgan (NYSE:JPM) is called a bargain with the bank minting money under CEO Jamie Dimon. The cover story on JPM reminds that Warren Buffett is a big buyer of shares. GameStop (NYSE:GME) is called the poster child for retail woes and tech disruption. Shareholders can't be pleased to see the retailer mentioned in the same sentence as Circuit City, Borders or Blockbuster. FedEx's (FDX) move to dump Amazon (NASDAQ:AMZN) as a customer is seen as a positive sign in the confidence the shipper has in the higher margins areas of its business. The insider sales at Ralph Lauren (NYSE:RL) and the activist buying action at Starbulk Carriers (NASDAQ:SBLK) are both highlighted by the publication.
Sources: CNBC, Nasdaq, EDGAR, PC Gamer, Bloomberg