Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events. Check out Saturday morning's regular Stocks to Watch article for a full list of events planned for the week.
Monday - August 3
- Volatility watch: Short interest is in an uptrend for Vale (NYSE:VALE), Nokia (NYSE:NOK), United Airlines (NASDAQ:UAL), Micron Technology (NASDAQ:MU) and Denbury Resources (NYSE:DNR), while GameStop (NYSE:GME), National Beverage (NASDAQ:FIZZ) and Dillard's (NYSE:DDS) head into next week with among the highest percentage of short interest higher to total float. Notable Robinhood movers heading into next week include Ocugen (NASDAQ:OCGN), Arlo Technologies (NYSE:ARLO) and Alector (NASDAQ:ALEC), which itself saw shares drop 25% Wednesday after a dementia study.
- Premarket Two stay-at-home favorites lead off the earnings calendar with highly-anticipated earnings reports. Clorox (NYSE:CLX) is expected to post a huge quarter for sales of disinfectant products, as well as strength in other at-home products like charcoal, salad dressing and water filters. JPMorgan is positive on CLX ahead of the report, although warns on some margin pressure as capacity was boosted. Meanwhile, Tyson Foods (NYSE:TSN) will report numbers for a very noisy quarter that included pantry demand from consumers and production outages. Credit Suisse tips that the headlines over Tyson's COVID-19 outbreaks may have overshadowed higher throughput overall across plants. Keep an eye on Sanderson Farms (NASDAQ:SAFM) and Pilgrim's Pride (NASDAQ:PPC) as well during Tyson's conference call in case of an update on foodservice demand.
- 11:00 a.m. Hive Blockchain (NYSE:HIVE) is a presenter at the SNN Network Virtual Investor Conference. The company's presentation stands out from the recent slate following the 40% rally in shares over the last week amid renewed investor interest in crypto names.
- 3:30 p.m. Ford (NYSE:F) CFO Tim Stone and Chief Product Officer Hau Thai-Tang will participate in a fireside chat with RBC Capital for discussion on the automaker's cost actions and the portfolio lineup. RBC analyst Joseph Spak has criticized Ford in the past for its lack of transparency and could try to pin down Ford on the long-term goals.
Tuesday - August 4
- Premarket: A big day of IPO share lockups is on tap with Beam Therapeutics (NASDAQ:BEAM), Casper Sleep (NYSE:CSPR), PPD (NASDAQ:PPD), Schrodinger (NASDAQ:SDGR) and Silk Medical Road (NASDAQ:SILK) all seeing shares being freed for sales by insiders. On a percentage basis, PPD and Schrodinger have the highest number of new shares being released at 82.3% of total outstanding and 80.7%, respectively.
- 11:00 a.m. Arcus Biosciences (NYSE:RCUS) Co-founder Juan Jaen and Agenus (NASDAQ:AGEN) COO Jennifer Buell are part of a discussion on targeting Myeloid Cells in tumor microenvironment at the William Blair Biotech Focus Conference. Arcus more than doubled this year as speculation of an arrangement with Gilead circulated and the two inked a 10-year agreement to cover cancer candidates.
- 12:00 p.m. UBS has an investor meeting scheduled with Intel (NASDAQ:INTC). The sitdown with management arrives with Intel on the hot seat following its 7nm product delay. UBS was one of the firms to lowers its price target on Intel following the 7nm development, although analyst Timothy Arcuri maintained a positive outlook on the company due to his belief that the delay in Intel's 7nm will increase the market penetration of outside foundries. Expect a more detailed update from the analyst after the meeting. Intel shares are down 20% since earnings earlier this week.
- Postmarket: A trio of companies report earnings after the bell with implied volatility blazing hot based off of recent options trading. Nikola (NASDAQ:NKLA), Upwork (NASDAQ:UPWK) and Beyond Meat (NASDAQ:BYND) are the three names to watch for big moves. Of the three, Nikola will likely be more dependent on the cadence from management on the EV production timeline than actual Q2 numbers.
Wednesday - August 5
- All day: The PDUFA Date for DBV Technologies' (NASDAQ:DBVT) Viaskin Peanut treatment is on the calendar. ViaskinPeanut received breakthrough designation from the FDA in 2015, but about four months ago the company reported that the review team identified "questions" concerning efficacy and canceled the scheduled advisory committee meeting. It said that it was "communicating" with the agency about additional information on patch-site adhesion and data from the extension study. Some analysts have called DBV's patch "dead in the water" and shares are down 63% YTD. The competitor in the peanut allergy space, Aimmune Therapeutics (NASDAQ:AIMT), could see sympathy movement and elevated volatility on any developments.
- All day: Jefferies Virtual Industrials Conference: Big names on Day 1 include Ford (F), Huntsman (NYSE:HUN), Honeywell (NYSE:HON) and 3M (NYSE:MMM). Worthington (NYSE:WOR) last year rose 3.5% on the day of its presentation at the conference. Find that slide deck here.
- 10:00 a.m. Samsung (OTC:SSNLF) is hosting its Galaxy Unpacked event. The company is expected to reveal its new lineup of Galaxy Note 20 devices, along with the Galaxy Fold. On the chip front, Qualcomm could see some action with the company's Snapdragon 865 or Snapdragon 865 Plus likely to be featured. Adding some intrigue, Samsung is reportedly struggling to raise 5nm process yield rates. Industry sources say Samsung's delay could impact the launch of Qualcomm's next-generation flagship 5G mobile chip series, which previous reports have identified as the Snapdragon 875G. Samsung could also be splitting the orders for the X60 5G modem with TSMC.
- 12:30 p.m. St. Louis Federal Reserve President James Bullard is scheduled to give a speech in a virtual format. Bullard will share his views on the U.S. economy and monetary policy. Bullard, together with Neel Kashkari rank among the most dovish members of the FOMC, so should his comments be viewed more hawkishly, volatility could ensue. That said, he is not a voter this year.
- 2:00 p.m. Oppenheimer is scheduled to meet with management from Denny's (NASDAQ:DENN). That typically means a detailed note from the firm shortly after the event. Oppenheimer recently reiterated an Outperform rating on Denny's on what it calls a favorable risk-reward with the stock trading at an 8.5% to 9% FCF yield and with a path for improving sales trends.
Thursday - August 6
- All day: A FDA action date for Bristol Myers Squibb's (NYSE:BMY) sBLA for Opdivo (nivolumab) plus Yervoy (ipilimumab) is set. The FDA granted the application priority review in addition to granting Fast Track designation. Heading into the event, Bank of America says Opdivo's commercial outlook continues to be a topic of debate.
- All day: Jefferies Virtual Industrials Conference. Leidos (NYSE:LDOS), Genuine Parts (NYSE:GPC) and Caterpillar (NYSE:CAT) are among the biggest names due to present. Evogene (NASDAQ:EVGN) also will present. Last year shares surged 9% on the day of their presentation and added another 8% the next day.
- 8:00 a.m. Yeti (NYSE:YETI) will follow up its earning report with what could be an intriguing conference call. The consumer products company is expected to post strong Q2 sales off gift demand during the Moms, Dads and Grads season, as well as broad demand for outdoor products in general. Recent credit card data has shown even more spending on marine, fishing, park and beach activities, which could play into the outlook from Yeti on the call. Yeti held back on issuing formal guidance after Q1, but did talk about general business trends. Shares of Yeti are up 62% since the Q1 report dropped. The last three earnings reports saw shares close lower by 4-5% on the day in question. The high flyer remains strong nevertheless, trading within a dollar of its all-time highs Friday.
- 4:30 p.m. - 5:00 p.m. Four companies disclosing earnings after the closing bell head into their reports with a high level of volatility implied based off options activity. Rosetta Stone (NYSE:RST), Cloudflare (NYSE:NET), Uber (NYSE:UBER) and Dropbox (NASDAQ:DBX) also have a recent history of updating guidance on their conference calls. Uber's conference call is scheduled for 4:30, while Rosetta Stone, Cloudflare and DropBox are on the calendar for 5:00 calls.
Friday - August 7
- All Day: The FDA action date for Trevena (NASDAQ:TRVN) for Oliceridine is scheduled. The company has stated that there is a significant clinical need in the hospital setting for an effective and well-tolerated IV analgesic to help manage patients’ moderate-to-severe pain. The pressure is on a bit with shares of Trevena up 206% over the last 90 days.
- 8:30 a.m. July jobs report is likely to be subject to myriad explanations. Last month, technical difficulties skewed the "real" figures, but the massive beat of expectations still propelled markets higher by 0.5%, and by nearly 1.6% in the following session after Asia and Europe were able to fully process the numbers -- the biggest gain in the S&P 500 since June 16. Weekly initial jobless claims and continuing claims figures remain elevated and the July consensus is for 1.36M jobs added, below last month's reported 4.8M gains.