Catalyst watch: GlobalFoundries event, Roblox earnings and AMTD Digital gyrations

Trading Charts on a Display

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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 - August 8

  • Volatility watch - Options trading volume has spiked over the last week on Bed Bath & Beyond (BBBY) and Coinbase Global (NASDAQ:COIN). Short bets on Omeros Corporation (OMER) and Hour Loop (HOUR) have moved notably higher. Social media interest in AMTD Digital Inc. (NYSE:HKD) is still blazing hot and the stock could see some more wild share price swings.
  • All week - The conference schedule is headlined by the J.P. Morgan Auto Conference. Companies due to appear include Adient (ADNT), Stoneridge (SRI), Ford Motor (F), Cepton (CPTN), Gentherm (THRM), TrueCar (TRUE), TuSimple (TSP), Dana (DAN), Blink Charging (BLNK), Aptiv (APTV), and Rush Enterprises (RUSHA). Of those names, Tu Simple (TSP) may have the most to prove after The Wall Street Journal published safety concerns about the autonomous driving system despite the 8M road miles driven. Other conferences of note include the BTIG Biotechnology Conference, UBS Financial Services Conference, BofA Securities 2022 SMID Cap Ideas Conference, Oppenheimer 25th Annual Technology Internet & Communications Conference, the Wedbush PacGrow Healthcare Conference, the Canaccord Genuity 42nd Annual Growth Conference, the Jefferies 2022 Industrials Conference, and Canaccord 42nd Annual Growth Conference.
  • Postmarket - Stocks due to report earnings with double-digit share price moves implied by options trading include Vroom (VRM) and Canoo (GOEV). Look for Canoo execs to discuss the electric vehicle maker's closer ties to Walmart (NYSE:WMT) during the conference call.

Tuesday - August 9

  • All day - FedEx (FDX) is due to issue its latest economic update include forecasts on GDP and consumer spending.
  • All day - IPO lockup periods expire on SKYX Platforms Corp (SKYX) and Modular Medical (MODD). Both stocks trade well below their IPO pricing level.
  • 1:30 p.m. ARK Invest will hold its monthly webinar to discuss recent market developments, macroeconomics, and thematic investing in disruptive innovation. Cathie Wood's commentary on Bitcoin (BTC-USD) and the firm's rationale of the untimely sale of Coinbase Global (COIN) could be of interest. She could also talk about the auto sector after ARK Invest recently predicted that traditional automakers could see a drop in value of more than 60% over the next five years if autonomous taxi services become popular.
  • Postmarket - Stocks due to report earnings with double-digit share price moves implied by options trading include Boxed (BOXD), Celsius Holdings (CELH), and Roblox (NYSE:RBLX).

Wednesday - August 10

  • All day - GlobalFoundries (NASDAQ:GFS) will hold its Capital Markets Day event. GlobalFoundries and STMicro recently signed an agreement to build and jointly operate a new 300mm manufacturing plant in Crolles, France, next to STMicro's existing facility. GFS is one of the stocks that trades with strong correlation to news around Taiwan.
  • All day - Boeing (NYSE:BA) is due to update on its orders and deliveries. For the first six months of the year, the aircraft manufacturer had 5,106 unfilled orders and had made 286 deliveries. YTD net orders were 205 as of June 30. Shares of Boeing have moved in the past after the deliveries report has hit.
  • 8:30 a.m. Traders will dig into the latest inflation report with the consumer price index for July forecast to fall to +8.7% year-over-year from +9.1% in June. The month-to-month inflation reading is seen dropping to +0.3% from +1.3% in June.
  • Postmarket - Stocks due to report earnings with double-digit share price moves implied by options trading include Dutch Bros (BROS), Bumble (BMBL), and Sonder Holdings (SOND).

Thursday - August 11

  • All day - The OPEC monthly oil report will be closely watched in the energy sector.
  • All day - The downsized IPO for electric sport boat developer Forza X1 (FRZA) is expected to start trading.
  • All day - Myriad Genetics (MYGN) will host an Investor Day event to provide a strategic business update and overview of the company’s growth opportunities, research and development pipeline, and technology initiatives. Shares of MYGN fell off more than 5% in the week following the company's last investor day presentation.
  • 8:30 a.m. The producer price report for July will arrive to expectations for a slight moderation to +10.6% year-over-year from the +11.3% reading in June. After backing out the food and energy categories, producer prices are seen dropping to +7.6% from +8.2%.
  • 11:00 a.m. - IDEXX Laboratories (IDXX) will host its 2022 Investor Day. The company heads into the event having already trimmed its organic sales outlook due to continued weakness in U.S. vet visits as well as macro headwinds in Europe.
  • Postmarket - Stocks due to report earnings with double-digit share price moves implied by options trading include Embark Technology (EMBK), Joby Aviation (JOBY), and Poshmark (POSH).

Friday - August 12

  • All day - The deadline date hits for Edoc Acquisition Corp. (ADOC) to extend the timeline to merge with Calidi Biotherapeutics in a SPAC deal. Aries I Acquisition Corporation (RAM) also faces a deadline to take metaverse infrastructure company InfiniteWorld public in a SPAC deal.
  • All day - Watch for some 13F filings to begin to arrive ahead of the deadline date of August 15. Some of the notable companies that traders will be watching to see how hedge funds are playing include DoorDash (DASH), Carvana (CVNA), Twitter (TWTR), Coinbase Global (COIN), Sea (SE) and Netflix (NASDAQ:NFLX).

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