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Stocks To Watch: Spotlight On Semis

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Includes: ABGLF, ACLS, ACMR, AEHR, AIABF, AIR, AMAT, AMZN, AOSL, APRN, ARRY, ATEYY, AVGO, BAC, BBBY, BESIY, BKE, BRKS, BUD, BWA, CBS, CCMP, CHWY, CMI, COHU, COST, CPRI, CRWD, CSCO, CVS, CYBE, DAL, DIDI, DIS, DOW, ENTG, F, FAST, FORM, FUN, FVRR, GIS, GME, GOLD, GPS, GS, GTN, IBM, ICHR, INFY, INTT, IVAC, JAZZ, JCP, JD, KHC, KLAC, KLIC, KR, LEN, LEV, LNVGY, LRCX, LYB, M, MDJH, MTC, NANO, NVMI, OXY, PDFS, PEP, PFE, POCEF, PSI, PVH, QURE, R, RTEC, SEAS, SGMO, SIX, SLOIF, SMH, SNE, SOXX, SPACE, SPOT, SYMC, TBVPF, TLRD, TTDKY, UBER, UCTT, URI, VECO, VWAGY, WBA, WYNN, XSD
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. A podcast of Stocks to Watch is also available on Sundays on Seeking Alpha, iTunes, Stitcher and Spotify.

The first full trading week of the back of the year features expectations for more trade talks between China and the U.S. by phone and a high-level U.S. trade delegation off to visit India. FOMC minutes are due to be released on July 10, while reports on consumer prices and producer prices headline the economic calendar. China's update on foreign exchange reserves on July 12 could also create a stir with dollar-yuan traders. A lot of eyes will be focused on the SEMICON West conference in San Francisco, where the semiconductor industry gets a day in the sun. Heading into the event, the SPDR S&P Semiconductor ETF (NYSEARCA:XSD) is up 32% YTD even as trade issues linger as an overhang.


Notable earnings reports: Just a few stragglers are due in before the launch of Q2 earnings season the week of July 15. Keep an eye out for reports from PepsiCo (NASDAQ:PEP) and Levi Strauss (LEV) on July 9; Bed Bath & Beyond (NASDAQ:BBBY) and AAR Corp. (NYSE:AIR) on July 10; Delta Air Lines (NYSE:DAL) and Fastenal (NASDAQ:FAST) on July 11 and Infosys (NYSE:INFY) on July 12. See Seeking Alpha's Earnings Calendar for the complete list of earnings reporters.

IPO watch: IPO share lockups arrive on Mmtec (NASDAQ:MTC) and MDJM (NASDAQ:MDJH) on July 8. Analyst quiet period expirations on Crowdstrike (NASDAQ:CRWD) and Fiverr (NYSE:FVRR) are also scheduled for July 8, while analysts involved in the IPO can start buzzing on Chewy (NYSE:CHWY) on July 9. CRWD, FVRR and CHWY all trade below their highs, but are all at least 30% over where their IPOs were priced. Also of note next week, Anheuser-Busch InBev's (NYSE:BUD) listing of Budweiser Asia is expected to price in New York on July 11 before debuting in Hong Kong the following week. Anheuser-Busch is selling 1.6B primary shares between HKD$40 and HKD$47 hoping to raise $9.8B from the listing. The beer giant plans to pay down debt and the new entity could be in a better position to partner with local brewers such as ThaiBev (OTCPK:TBVPF) following the split.

Projected dividend changes (quarterly): Cummins (NYSE:CMI) to $1.20 from $1.14, Delta Air Lines (DAL) to $0.41 from $0.35, Occidental (NYSE:OXY) to $0.79 from $0.78, Walgreens Boots (NASDAQ:WBA) to $0.48 from $0.44, Ryder (NYSE:R) to $0.58c from $0.54.

Spotlight on Delta: The upcoming earnings report from Delta Air Lines (DAL) should look fairly strong based off the airline's monthly traffic report. Delta is anticipated to report revenue of $12.5B for the quarter and EPS of $2.24. Analysts think Delta is benefiting from the grounding of Boeing 737 MAX jets. Delta's conference call could delve into that issue and Q3 guidance.

RISE: One of the largest tech conferences in Asia is scheduled to take place in Hong Kong from July 8-11. Companies with a presence at the event include Cisco (NASDAQ:CSCO), JD.com (NASDAQ:JD) Uber (NYSE:UBER), Spotify (NYSE:SPOT), AirAsia (OTCPK:AIABF), Didi Chuxing (DIDI) and Lenovo (OTCPK:LNVGY).

Auto alliance:Volkswagen's (OTCPK:VWAGY) supervisory board is due to discuss deepening the alliance with Ford (NYSE:F) at a meeting on July 11. The two automakers have reportedly agreed on how an alliance on electric and autonomous vehicles would be set up.

M&A tidbits: Broadcom's (NASDAQ:AVGO) potential deal for Symantec (NASDAQ:SYMC) could see new developments. The deadline for Barrick Gold (NYSE:GOLD) to announce a firm intention to make an offer for Acacia Mining (OTCPK:ABGLF) arrives on July 9. LyondellBasell's (NYSE:LYB) offer to buy up to 37M shares via Dutch Auction tender expires on July 8.

SEMICON West 2019: After some bruising on Friday following Samsung's earnings report, semiconductor stocks are back in focus with a huge industry event scheduled for July 9-11 in San Francisco. Analysts expect a somewhat cautious tone from presenting companies with the U.S.-China trade squabble still unresolved. Featured players at SEMICON include (NASDAQ:AMAT), TDK Showcases (OTCPK:TTDKY), Advantest (OTCPK:ATEYY), Nova (NASDAQ:NVMI), Ultra Clean Holdings (NASDAQ:UCTT), IBM (NYSE:IBM) and Lam Research (NASDAQ:LRCX). Heading into the event, Citi opened a negative catalyst watch on Entegris (NASDAQ:ENTG), while Cowen kept KLA-Tencor (NASDAQ:KLAC) locked in place as its top sector pick. Coinciding with SEMICON, AMD's desktop Ryzen 3000 will be on shelves next week with Ryzen notebooks to follow later on in Q3.

Drug data: Presentations to watch next week include Sangamo Therapeutics (NASDAQ:SGMO)-Pfizer's (NYSE:PFE) update on SB-525 gene therapy data and uniQure (NASDAQ:QURE) on AMT-061 data at the International Society on Thrombosis and Haemostasis Congress in Australia. Array (NASDAQ:ARRY) is also due to present Phase 3 trial data at the European Society for Medical Oncology World Congress on Gastrointestinal Cancer in Barcelona

Taylor Swift: Amazon Music (NASDAQ:AMZN) says 10-time Grammy Taylor Swift will headline the Prime Day Concert set for July 10 to be streamed live in 200 different countries on Prime Video. Amazon is hoping that it will add Prime subscribers from Swift's massive global fan base eager to see the concert.

CEO Investor Summit: This year's summit includes the CEOs from ACM Research (NASDAQ:ACMR), Aehr Test (NASDAQ:AEHR), Alpha & Omega Semiconductor (NASDAQ:AOSL), Axcelis (NASDAQ:ACLS), BE Semiconductor Industries (OTC:BESIY), Brooks (NASDAQ:BRKS), Cabot Microelectronics (NASDAQ:CCMP), Cohu (NASDAQ:COHU), CyberOptics (NASDAQ:CYBE), FormFactor (NASDAQ:FORM), Ichor Systems (NASDAQ:ICHR), inTEST Corporation (NYSEMKT:INTT), Intevac (NASDAQ:IVAC), Kulicke & Soffa (NASDAQ:KLIC), Nanometrics (NASDAQ:NANO), PDF Solutions (NASDAQ:PDFS), Photon Control (OTC:POCEF), Pivotal Systems, Rudolph Technologies (NYSE:RTEC), Soitec (OTC:SLOIF) and Veeco Instruments (NASDAQ:VECO)

Story time: Macy's (NYSE:M) will unveil its second in-store Story shop at its New York City flagship next week, with merchandise from more than 70 brands focused on summer and the outdoors. The outdoor theme will be replicated at the 35 other Macy's stores that have Story shops

Sunosi: The U.S. commercial launch of Jazz Pharmaceuticals' (NASDAQ:JAZZ) Sunosi begins next week. The FDA approved the dopamine and norepinephrine reuptake inhibitor in March for the treatment of excessive daytime sleepiness associated with narcolepsy or obstructive sleep apnea.

Data watch: Reports on firearm background checks and restaurant sales are due out during the week. Cedar Fair (NYSE:FUN) could also post an update on attendance trends in a report that could also be of interest to Six Flags Entertainment (NYSE:SIX) and SeaWorld Entertainment (NYSE:SEAS).

Sales reports: Costco (NASDAQ:COST) on July 10 and Buckle (NYSE:BKE) on July 11.

Analyst/investor meetings: General Mills (NYSE:GIS) on July 9 and Wynn Resorts (NASDAQ:WYNN) on July 13. The Wynn event will take place at the casino company's new Encore Boston Harbor property.

SpaceX goes commercial: NASA will host a media teleconference on July 9 to provide information on SpaceX's (SPACE) 18th commercial services resupply mission to the International Space Station. The launch will include more than 50 experiments sponsored by the U.S. National Laboratory. The demand for space-based research and development continues to increase as companies look to take advantage of the unique environment onboard the space station. NASA says payloads on this mission include investigations from Fortune 500 companies, startups and academic institutions.

Box office: Sony's (NYSE:SNE) Spider-Man: Far From Home is expected to dominate the weekend U.S. box office action by hauling in $80M across 4.6K theaters. Sony expects the latest Spider-Man release to bring in about $125M for the film's extended six-day opening window. Disney's (NYSE:DIS) Toy Story 4 is seen churning up another $32M, while Universal's Yesterday is forecast to bring in $10M during its second weekend.

Barron's mentions: The publication digs through the blue chip basket to find 11 names with stronger growth prospects than their forward price-to-earnings ratios suggest. Bank of America (NYSE:BAC), BorgWarner (NYSE:BWA), Capri Holdings (NYSE:CPRI), CBS (NYSE:CBS), CVS Health (NYSE:CVS), Delta Air Lines (DAL), Goldman Sachs (NYSE:GS), Kroger (NYSE:KR), Lennar (NYSE:LEN), PVH (NYSE:PVH) and United Rentals (NYSE:URI) make the list of value picks. Meanwhile, a "Radio Shack Index" of stocks likely to continue to struggle 10 years into an economic expansion is seen including GameStop (NYSE:GME), J.C. Penney (NYSE:JCP), Blue Apron (NYSE:APRN) and maybe Tailored Brands (NYSE:TLRD). Heading into an election year, Gray Television (NYSE:GTN) is called the best positioned TV stock to capitalize on a boom in political advertising. Finally, income investors are reminded that S&P 500 components Dow (NYSE:DOW), Gap (NYSE:GPS) and Kraft Heinz (NASDAQ:KHC) are all yielding more than 5%.

Sources: CNBC, Nasdaq, EDGAR, Bloomberg,