Catalyst watch: Inflation reads, major banks report and Alphabet splits

Jul. 08, 2022 2:30 PM ETU.S. Bancorp (USB)AMZN, BA, AXP, BAC, JPM, C, PLAY, COF, GME, SU, WFC, BK, REGN, STT, PNC, BHC, PCYO, DAL, HR, GSM, VXRT, TNXP, BLUE, GOOGL, LPTX, RCKT, SNAP, AVRO, SOFI, AFRM, TPG, NA, BHC:CA, SU:CABy: Clark Schultz, SA News Editor27 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 - July 11

  • All week - Options trading volume has jumped on Snap (SNAP), Affirm Holdings (AFRM), and Bausch Health Companies (BHC). SoFi Technologies (SOFI) moved higher on the list of most heavily shorted stocks. The upcoming stock split and CFO turnover for GameStop (GME) has pushed the stock back to the top of the social media buzz list.
  • All week - The three-day World Orphan Drug Congress USA will begin. Some of the companies with key presentations that could spark a share price reaction include Tonix Pharmaceuticals (TNXP), Vaxart (VXRT), bluebird bio (BLUE), Rocket Pharmaceutical (RCKT), Regeneron Pharmaceuticals (REGN), and Avrobio (AVRO).
  • All week - Key conferences running during the week include the William Blair Biotech Focus Conference, the CJS Securities’ 22nd Annual New Ideas Summer Conference, the Deutsche Bank Global Consumer Conference, and the Stifel GMP Muskoka Conference.

Tuesday - July 12

  • All day - Leap Therapeutics (LPTX) will host a virtual R&D Day. The management team will be joined by key opinion leaders to share emerging data for lead clinical candidate DKN-01.
  • All day - Metaverse-focused chipmaker Nano Labs (NA) is expected to start trading. Watch TPG Inc. (TPG) with the IPO lockup period expiring to free up more shares to be sold.
  • All day - Amazon (AMZN) will hold a two-day Prime Day sales event. Jefferies estimated that Prime Day will contribute $8.1B to gross merchandise value and $4.7B to sales for Q3. The firm thinks Prime Day will help to boost Prime adoption, especially in international markets with Prime Day launching for the first time in three nations.
  • 7:30 a.m. Dave & Buster's Entertainment (PLAY) will hold a conference call to report combined results for D&B and Main Event.
  • 7:30 a.m. Ferroglobe PLC (GSM) will host a virtual Investor Day, which will include a comprehensive review of the business and its current activities. Shares of Ferroglobe rallied more than 4% the last time the company held an investor day.
  • 12:30 p.m. Federal Reserve Bank of Richmond President Thomas Barkin is due to discusses the "Recession Question" at an event. Barkin is on the dovish side of the FOMC dove-hawk spectrum.

Wednesday - July 13

  • 8:30 a.m. Options trading is implying a share price swing of 8% when Delta Air Lines (DAL) reports earnings. Delta is the airline major that sector peers correlate most tightly with on earnings day.
  • 8:30 a.m. The latest read on inflation drops on the laps of investors with the consumer price index report expected to show a 1.0% month-over-month and 8.7% year-over-year rise in prices for June. Core CPI is expected to held steady from the previous month with a 0.6% gain.
  • 9:00 a.m. Suncor (SU) will hold an Oil Sands Operations presentation with updates on production and operational actions.
  • 10:00 a.m. Pure Cycle Corporation (PCYO) will host an Investor Day event at Sky Ranch, the company's master planned community. CEO Mark Harding and CFO Kevin McNeill will present an in-depth review of long-term growth strategies and progress at Sky Ranch.

Thursday - July 14

  • All day - OPEC is due to post its monthly Oil Market Report.
  • All day - Boeing (BA) could announce Q2 deliveries. The aircraft manufacturer delivered 95 commercial airplanes in Q1 and 41 deliveries were made through the defense, space, and security programs.
  • 8:30 a.m. The producer price index report is expected to show a 0.8% month-over-month rise for the second consecutive month due in part to strong energy prices. Core PPI is forecast to increase 0.4% month-over-month.

Friday - July 15

  • Premarket - The financials sector will be in the spotlight with earnings due in from Bank of New York Mellon (BK), Citigroup (C), Wells Fargo (WFC), PNC Financial (PNC), U.S. Bancorp (NYSE:USB), and State Street (STT). Also watch credit card metrics reports from Capital One (COF), American Express (AXP), Bank of America (BAC), and JPMorgan (JPM) for charge-off and delinquency trends.
  • All day - The Alphabet (GOOGL) 20-for-1 stock split will become effective after the close of the market. There is some speculation that the stock split could lead to the tech giant being added to the Dow Jones Industrial Average.
  • 1:00 p.m. Shareholders with Healthcare Realty Trust (HR) and Healthcare Trust of America (HTA) vote on the planned merger of the two companies. Earlier in the month, proxy firm ISS issued cautionary support for the deal.

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