Wall Street Breakfast: The Week Ahead

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Economic reports in the week ahead

Investors will have their eyes on economic reports covering construction spending, manufacturing and the trade gap before the August jobs report blazes in at the end of the week. On the corporate calendar, Nvidia (NASDAQ:NVDA) and Intel (NASDAQ:INTC) host high-profile events. Tesla (NASDAQ:TSLA) and Apple (NASDAQ:AAPL) will trade at their new split-adjusted prices next week, while the Dow Jones Industrial Average will welcome Honeywell (NYSE:HON), Amgen (NASDAQ:AMGN) and Salesforce.com (NYSE:CRM) to the mix. Fed Vice Chair Richard Clarida and Fed Governor Lael Brainard are scheduled to speak next week at think tank events in followups to Fed Chair Jerome Powell's update on the central bank's new policy shift with inflation targeting.

Zoom Video (NASDAQ:ZM) on August 31; At Home Group (NYSE:HOME) and H&R Block (NYSE:HRB) on September 1; Macy's (NYSE:M), Navistar (NYSE:NAV), Five Below (NASDAQ:FIVE), Crowdstrike (NASDAQ:CRWD) and Science Applications (NYSE:SAIC) on September 2; Momo (NASDAQ:MOMO), Campbell Soup (NYSE:CPB), Docusign (NASDAQ:DOCU) and Broadcom (NASDAQ:AVGO) on September 3.
Go Deeper: See Seeking Alpha's Catalyst Watch for earnings plays.

Analyst quiet periods expire next week Rocket (NYSE:RKT), BigCommerce (NASDAQ:BIGC), Oak Street (NYSE:OSH), Acutus Medical (NASDAQ:AFIB), Checkmate Pharma (NASDAQ:CMPI), IBEX (NASDAQ:IBEX) and OLB (OLB). Of that bunch, BigCommerce might be the most intriguing with shares more than tripling since the IPO. Will Buy-equivalent ratings still pour in? The IPO lockup period expires on Calliditas Therapeutics (NASDAQ:CALT) on September 3. Across the Atlantic, German caravan maker Knaus Tabbert is planning an IPO in Frankfurt to raise up to $952M.
Go Deeper: Catch up on all the latest IPO news.

Spotlight on Nvidia: Nvidia (NVDA) hosts a special event broadcast featuring NVIDIA CEO Jensen Huang. "Before we enter the future, join us to celebrate the biggest breakthroughs in PC gaming since 1999," reads the company's teaser. It isn't certain if a new product will be launched, although leaks suggest an announcement for the new GeForce RTX 3000 series cards could be made. The event will be streamed on the company's website on September 1 starting at 12:00 p.m. ET.

Spotlight on Intel: Intel (INTC) is holding a Tiger Lake Virtual Launch Event on September 2 to display the company's 11th-generation Tiger Lake chips along with the long-anticipated Xe Graphics DG1. Intel plans to use Tiger Lake to take on AMD's (NASDAQ:AMD) Ryzen 4000-series in the laptop market. In an early preview of the laptop chip war, PCWorld gives the edge to Tiger Lake. Shares of Intel haven't recovered from the drop in July after the company rattled investors with talk of a next-gen chip delay.

Sanofi (NASDAQ:SNY) is set to to begin COVID-19 vaccine human tests next week with a target to move to a large late-stage trial of an experimental coronavirus vaccine toward the end of the year. Sanofi is developing a vaccine with GlaxoSmithKline (NYSE:GSK). Cue Biopharma (NASDAQ:CUE) has a poster presentation featuring the company’s next-generation Immuno-STAT scaffold at the 16th Annual PEGS Boston Essential Protein Engineering & Cell Therapy Summit. A meeting of the FDA's Pulmonary-Allergy Drugs Advisory Committee to discuss GlaxoSmithKline's (GSK) Trelegy Ellipta sNDA for reduction in all-cause mortality in COPD is set. IMPACT trial results. Also in the week ahead, there is a FDA action date for Bristol-Myers' (NYSE:BMY) CC-486 NDA for the maintenance treatment of adult patients in remission with AML CC-486. Also keep an eye on Orchard Therapeutics (NASDAQ:ORTX) for presentations at the 46th Annual Meeting of the European Society for Blood and Marrow Transplantation to be held from August 29 - September 1.
Go Deeper: Check out Seeking Alpha's Catalyst Watch for breakdowns on the events that stand out.

U.S. auto sales: TrueCar forecasts U.S. auto sales declined 15% in August to 1,303,286 units when adjusted for selling days. "The automotive industry momentum continues in August as the industry claws back more and more new vehicle sales each month since sales bottomed out in April," says TrueCar's Eric Lyman. TrueCar forecast by manufacturer (adjusted for selling days): BMW (OTCPK:BMWYY) -21.2% to 21,578 units, Daimler (OTCPK:DDAIF) -21.9% to 21,927 units, Fiat Chrysler Automobiles (NYSE:FCAU) -15.0% to 169,959 units, Ford (NYSE:F)m-6.7% to 181,845 units, General Motors (NYSE:GM) -14.8% to 228,906 units, Honda (NYSE:HMC)m-18.1% to 132,290 units, Hyundai (OTCPK:HYMLF) -2.0% to 59,614 units, Kia (OTCPK:HYMLF) +0.1% to 56,421 units, Nissan (OTCPK:NSANY) -33.5% to 78,623 units, Subaru (OTCPK:FUJHY) -25.4% to 48,508 units, Tesla (TSLA) +30.8% to 16,035 units, Toyota (NYSE:TM) -18.4% to 188,251 units and Volkswagen (OTCPK:VWAGY) -10.4% to 51,551 units.

London Tech Week: Key speakers at the virtual version of London Tech Week beginning on September 1 include former Google (NASDAQ:GOOGL) Chairman Eric Schmidt and top execs from Rolls-Royce (OTCPK:RYCEF), Credit Suisse (NYSE:CS), IBM (NYSE:IBM) and Maersk (OTCPK:AMKBY). The spotlight of the event is said to be on the future of work, diversity within tech, education, healthcare and the startup landscape.

Conferences rundown: The Jefferies Semiconductor, IT Hardware & Communication Infrastructure Summit runs in a virtual format from September 1-2. The event will feature big names like AMD (AMD) and Corning (NYSE:GLW), as well as talks from Silicon Motion Technology Corporation (NASDAQ:SIMO), CEVA (NASDAQ:CEVA), Radware (NASDAQ:RDWR), Calix (NYSE:CALX), Veeco Instruments (NASDAQ:VECO), Amdocs (NASDAQ:DOX), Nova Measuring Instruments (NASDAQ:NVMI), TTM Technologies (NASDAQ:TTMI), FormFactor (NASDAQ:FORM), MagnaCip Semiconductor (NYSE:MX), MaxLinear (NYSE:MXL) and Avnet (NASDAQ:AVT). BMO Capital Markets is hosting a Real Estate Conference on September 2-3 with National Storage Affiliates Trust (NYSE:NSA), Investors Real Estate Trust (NYSE:IRET), Ameren (NYSE:AEE), QTS Realty Trust (NYSE:QTS) and Sabra Health Care REIT (NASDAQ:SBRA) all due to appear. Solebury Trout is holding a Zoomside Chat Day with 45-minute chats between covering analysts and biotech management from Sol-Gel (NASDAQ:SLGL), Lineage Cell Therapeutics (NYSEMKT:LCTX), BerGenBio (OTCPK:BRRGF), Zentalis (NASDAQ:ZNTL) and Exicure (NASDAQ:XCUR). The LDMicro Conference features presentations by 500 microcap companies. The list of presenters includes GAN Limited (NASDAQ:GAN), Lantern Pharma (NASDAQ:LTRN), AutoWeb (NASDAQ:AUTO), iCad (NASDAQ:ICAD) and AcelRx (NASDAQ:ACRX).
Go Deeper: See Seeking Alpha's Catalyst Watch for which presentations may stand out.

Barron's mentions

Magna International (NYSE:MGA) is called out as an auto supplier stock that could outperform. Shares trade at a low multiple and the company is a key supplier of things across EVs, hybrids and gas-powered autos. In a look at the housing market, luxury-home builder Toll Brothers (NYSE:TOL) and Taylor Morrison Home (NYSE:TMHC) are singled out as good bets in the near term. Meanwhile, McDonald's (NYSE:MCD) is profiled favorably despite all the tabloid headlines generated by its legal fights with its ex-CEO. "In any type of economic downturn, McDonald’s ends up gaining share because consumers flock to value, and McDonald’s is the value leader,” sums up Credit Suisse on the bull case.

Sources: EDGAR, Bloomberg, CNBC, The Verge, Reuters

This article was written by

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