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Key events are scheduled for the companies listed below next week.
D.C. drama: The countdown clock is ticking on Capitol Hill with President Trump eager to deliver a major tax reform package before the Christmas break. A compromise between the Senate and House brings the corporate tax rate to 21% from its current level of 35%. While it's still early in the process, analysts are already buzzing over signals from heavy hitters such as Coca-Cola (NYSE:KO), Boeing (NYSE:BA) and Delta Air Lines (NYSE:DAL) on anticipated EPS benefits and boosted buyback plans from tax reform savings. Expect more talk this week on tax reform plays.
Media M&A shakeup: What's the next domino to fall after Disney (NYSE:DIS) struck a deal to buy film/TV assets from Twenty-First Century Fox (FOX, FOX) for a cool $52.4B? "We believe remaining film/TV studio assets will become increasingly valuable/scarce," predicts BTIG analyst Rich Greenfield on the development. Studios Lions Gate (LGF.A, LGF.B) and privately-held MGM are expected by some to see bids. Other media stocks on the consolidation radar are CBS (NYSE:CBS), Discovery Communications (NASDAQ:DISCA), AMC Networks (NASDAQ:AMCX), Comcast (NASDAQ:CMCSA), Verizon (NYSE:VZ) and Viacom (VIAB, VIA). Though there's also the AT&T (NYSE:T)-Time Warner (NYSE:TWX) vs. DOJ court battle to consider, the biggest media question mark of all may surround Netflix (NASDAQ:NFLX), which faces a Disney-controlled Hulu and the rollback of net neutrality rules.
Expected IPO filings: Adial Pharmaceuticals (Pending:ADIL), Cue Biopharma (CUE) and Advantage Insurance (Pending:AVI) on Dec. 18; iClick Interactive Asia (Pending:ICLK) on Dec. 21; Longfin (NASDAQ:LFIN) on Dec. 22.
IPO/secondary share lockup period expirations: Norwegian Cruise Line Holdings (NASDAQ:NCLH), Bridgepoint Education (NYSE:BPI), (NYSE:KMG), Aldeyra Therapeutic (NASDAQ:ALDX) and Earthstone Energy (NASDAQ:ESTE) on Dec 18.; SG Blocks (NASDAQ:SGBX), Safety Income and Growth (NYSE:SAFE), Altice USA (NYSE:ATUS), Daseke (NASDAQ:DSKE) and Nabriva Therapeutics (NASDAQ:NBRV) on Dec. 19; Performance Food Group (NYSE:PFGC) on Dec. 21; Chatham Lodging Trust (NYSE:CLDT) on Dec. 22.
Notable earnings reports: Heico (NYSE:HEI) on Dec. 18; Carnival (NYSE:CCL), Darden Restaurants (NYSE:DRI), FedEx (NYSE:FDX), Micron (NASDAQ:MU), Red Hat (NYSE:RHT) and Navistar (NYSE:NAV) on Dec. 19; General Mills (NYSE:GIS), BlackBerry (NASDAQ:BB), and Winnebago (NYSE:WGO) on Dec. 20; Nike (NYSE:NKE), Accenture (NYSE:ACN), Rite Aid (NYSE:RAD), ConAgra (NYSE:CAG) and Finish Line (NASDAQ:FINL) on Dec. 21.
Extraordinary shareholder meetings for M&A votes: Arc Logisitcs (NYSE:ARCX) on Dec. 18; Omega Protein (NYSE:OME) on Dec. 19, Ruby Tuesday (NYSE:RT) on Dec. 20; NewStar Financial (NASDAQ:NEWS) on Dec. 21.
Guidance call: Colfax Corporation (NYSE:CFX) on Dec 18.
Barron's mentions: Alaska Air Group (NYSE:ALK) and Simon Property Group (NYSE:SPG) are singled out as top picks with upside. Income investors are advised to consider Merck (NYSE:MRK), PepsiCo (NYSE:PEP), Daimler (OTCPK:DDAIF) and Novartis (NYSE:NVS). The impact of environmental, social and governance factors at Exxon Mobile (NYSE:XOM) is seen as putting the company at the crossroads.
Box office watch: Another big week is ahead for AMC Entertainment (NYSE:AMC), Cinemark Holdings (NYSE:CNK), Regal Entertainment (NYSE:RGC) and IMAX (NYSE:IMAX) as Star Wars: The Last Jedi (Disney) totals are digested. Ferdinand (Fox) and Coco (Disney) also open this weekend, while Downstairs (Paramount), Pitch Perfect 3 (Universal) and Father Figures (Warner Bros) debut next Friday. Will enough MoviePass (NASDAQ:HMNY) subscriptions make their way into holiday stockings to provide a tailwind for the exhibitor sector in 2018?