Catalyst watch: FedEx earnings, Revlon drama and huge Polestar SPAC deal goes to a vote

Jun. 17, 2022 3:00 PM ETDIS, CMCSA, PARA, PARAA, MCS, REV, MSTR, DWAC, AMZN, PLAN, JNJ, CRSP, PSNY, MOD, IFS, UNVR, CTKB, BITF, VLKAF, QS, MOB, FTNT, SIGA, BVNRY, BVNKF, EBS, GOVX, G, CMCO, MODV, TVTY, POLY, HPQ, SRAD, ZM, IBM, SWBI, BB, FDX, AIRT, NLIT, CNR, BITF:CA, BB:CABy: Clark Schultz, SA News Editor21 Comments

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Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Saturday morning's regular Stocks to Watch article for a full list of events planned for the week or the Seeking Alpha earnings calendar for companies due to report.

Monday - June 20

  • All day - The U.S. stock market is closed in observance of the Juneteenth National Independence Day federal holiday.
  • All day - Another huge box office weekend could be in store with Pixar and Disney's (DIS) Lightyear tracking to open in the U.S. across more than 4,200 theaters to a $70M to $85M haul over the Father's Day weekend. Universal's (CMCSA) Jurassic World Dominion is forecast to bring in another $60M in its second weekend, while Paramount's (PARA) (PARAA) Top Gun: Maverick will add to its +$400M U.S. tally. Marcus Entertainment (MCS) is the theater stock that has seen the best return over the last six weeks as the box office boom has run up against the stock market selling pressure.

Tuesday - June 21

  • All week - Options trading volume is elevated on Revlon (REV) amid all the bankruptcy and buyout speculation. MicroStrategy (MSTR) is being watched with short interest on the stock pushing even higher amid the cryptocurrency market collapse. Digital World Acquisition Corporation (DWAC) has seen a burst of interest on Stocktwits and other social media sites.
  • All day - Some of the notable conferences to watch for guidance and strategy updates from are the Jefferies Consumer Conference, the BMO Chemicals & Packaging Conference, the Wells Fargo Electric Vehicle Mini Conference, and the Cantor Fitzgerald PropTech Conference.
  • All day - The four-day Amazon (AMZN) re:MARS event will commence. The global event is focused on machine learning, automation, robotics, and space.
  • All day - Anaplan (PLAN) will hold a special meeting to vote on the amended terms of the Thoma Bravo buyout.
  • 8:30 a.m. Johnson & Johnson (JNJ) will hold an ESG Investor Update Webcast. Top execs will outline the company's progress and performance related to ESG strategy and from the 2021 report
  • 1:00 p.m. The FTC will hold a broad public forum on the impact of mergers and acquisitions.
  • 2:00 p.m. CRISPR Therapeutics (CRSP) will host an Innovation Day focused on early research and development. Shares of CRSP have rallied in the past after similar events.

Wednesday - June 22

  • All day - Gores Guggenheim (GGPI) will hold a shareholder meeting to approve a business combination with Polestar at an enterprise value of $20B for the combined company, which would mark one of the largest SPAC deals ever. Polestar could start trading by the end of the week. The electric vehicle startup expects to launch the Polestar 3 electric SUV in October.
  • All day - Fed speakers are back on the circuit after the FOMC meeting. Chicago Federal Reserve Bank President Charles Evans, Philadelphia Federal Reserve Bank President Patrick Harker, and Richmond Federal Reserve Bank President Thomas Barkin all have speeches scheduled. Meanwhile, Federal Reserve Chairman Jerome Powell is scheduled to deliver semi-annual monetary policy testimony before the Senate Banking Committee.
  • All day - Investor events of note include Modine Manufacturing Company (MOD) hosting an Investor and Analyst Day, Intercorp Financial Services (IFS) holding a virtual investor day, Univar Solutions (UNVR) hosting an Innovation Day to showcase the company's lab and technical capabilities, Cytek Biosciences (CTKB) hosting the first Analyst and Investor Day in the company's history, and Bitfarms Ltd. (BITF) conducting an investor tour of the company's largest state-of-the-art facility in Montreal, as well as holding presentations on its global operations.
  • All day - Volkswagen (OTCPK:VLKAF) will hold its annual Capital Markets Day. The event could also have some implications for QuantumScape (QS) if there is an update on the solid-state battery test or future plans.

Thursday - June 23

  • All day - Federal Reserve Chairman Jerome Powell is scheduled to testify before the House Financial Services Panel.
  • All day - Mobilicom (MOB) is expected to start trading on June 23. The Israeli tech company provides a range of autonomous system control and related cybersecurity technologies. Mobilicom plans to offer 2.2M American Depositary Shares, with each ADS representing 150 ordinary shares, at the assumed price of $4.65 per ADS.
  • All day - Fortinet (FTNT) will begin trading on a split-adjusted basis following the 5-for-1 stock split.
  • All day - The World Health Organization will hold an emergency committee to assess if the monkeypox outbreak represents a public health emergency of international concern. That level of warning issued by the UN agency currently only applies to COVID-19 and polio. Stocks that have been active off monkeypox developments include SIGA Technologies (SIGA), Bavarian Nordic (OTCPK:BVNRY) (OTCPK:BVNKF), Emergent BioSolutions (EBS), and GeoVax Labs (GOVX),
  • All day - Genpact (G) will host an Investor and Analyst Day event with the leadership team scheduled to provide insights into the company's strategic vision for growth and execution. Investor events are also scheduled for Columbus McKinnon (CMCO) and Modivcare (MODV).
  • All day - Shareholder votes are scheduled for the Tivity Health (TVTY) $2B buyout by Stone Point Capital and the Ploy (POLY) sale to HP Inc. (HPQ).
  • 11:00 a.m. The Barron's Investing in Tech summit will include talks from Sportradar (SRAD) CEO Carsten Koerl, Zoom Video Communications (ZM) CFO Kelly Steckelberg, and IBM (IBM) CEO Arvind Krishna.
  • Postmarket - Smith & Wesson Brand (SWBI) and Blackberry (BB) are both due to report earnings with options trading implying a double-digit move up or down. FedEx (FDX) will also post its quarterly report. The shipping giant fell 4% last time it reported. Options trading implies a move of 8% this time around. Watch Air T (AIRT) with the air freight firm deriving more than 30% of its revenue from FedEx.

Friday - June 24

  • All day - Shareholders with Northern Lights Acquisition Corp. (NLIT) meet to vote on the SPAC deal to combine with Safe Harbor Financial. The combined organization, which will have an estimated equity value of $327M after the transaction. Safe Harbor was established in 2015 as the cannabis banking arm of Partner Colorado Credit Union.
  • All day - Shareholders with Cornerstone Building Brands (CNR) meet to vote on the deal for the company to be acquired by Clayton, Dubilier & Rice.

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