Catalyst watch: Jackson Hole, Nvidia earnings, Nogin SPAC deal and Rite Aid event

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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 22

  • Volatility watch - Options trading volume has moved higher on Mind Medicine (MNMD) and Clene (CLNN). Vuzix Corp. (VUZI) and Carvana (CVNA) could see extra volatility with short interest as a percentage of total float still elevated. Social media interest has picked up on bluebird bio (BLUE) and Cisco (CSCO).
  • All week - The conference schedule includes the Raymond James Diversified Industrials Conference, D.A. Davidson Big Sky Tech Conference, Seaport Global Annual Virtual Summer Investor Conference, Midwest IDEAS Conference, Needham Virtual Semiconductor and SemiCap 1x1 Conference, and Rosenblatt 2nd Annual AI Conference.
  • All day - Shareholders Software Acquisition Group III (SWAG) will vote on the deal to take commerce-as-a-service technology provider Nogin public as part of a SPAC merger. The combined firm will have an estimated post-transaction enterprise value of $646M, assuming no redemptions by SWAG stockholders. Nogin shareholders will roll 96% of their existing equity holdings into the combined firm and are expected to own ~67% of the company on a non-fully diluted basis following the closing of the business combination. The combined company will be named Nogin and will remain listed on the Nasdaq under the new ticker symbol NOGN.

Tuesday - August 23

  • All day - Starbox Group Holdings Ltd. (STBX) is expected to start trading after pricing its IPO. The Malaysia-based firm provides advertising services and a mobile platform for retailers to better connect with customers.
  • All day - A Ceragon Networks (CRNT) shareholder meeting will take place with a vote scheduled to determine if Aviat Networks (AVNW) is successful in replacing three board members with its own nominees.
  • Premarket - Xpeng (XPEV), Macy's (M), and Dick's Sporting Goods (DKS) will all post earnings reports with options trading implying a share price swings of at least 8% following the releases. Macy's and Dick's both soared after their last earnings reports, while XPeng slid almost 6%.
  • 4:30 p.m. Analysts have circled Cue Biopharma's (CUE) earnings call and business update as a potential share price catalyst.
  • Postmarket - Stocks due to report earnings with double-digit share price moves implied by options trading include Lulus Fashion Lounge (LVLU) and Accelerate Diagnostics (AXDX).

Wednesday - August 24

  • 8:30 a.m. The report on durable goods orders for July is expected to show a 0.6% gain, although Bank of America has come in late with a prediction for a large beat of +1.2%. Aircraft orders and motor vehicle orders are noted to have likely been strong given that Boeing (BA) reported 130 orders in July and motor vehicle assemblies improved in July.
  • 12:00 p.m. Rite Aid (RAD) will host a virtual shareholder investor event with CEO Heyward Donigan and CFO Matt Schroeder scheduled to answer questions from interest parties. Heading into the event, stock has been the subject of activist speculation and has a high level of short interest outstanding on it.
  • 1:00 p.m. Cisco (CSCO) and Loop Capital Host a Tech Talk on Cisco's Optical Business.
  • Postmarket - Nvidia's (NVDA) earnings report and guidance update could create ripples across the tech sector. Some of the stocks that correlate the tightest with NVDA are AMD (AMD), Analog Devices (ADI), Applied Materials (AMAT), and Agilent (A).

Thursday - August 25

  • All day - The Tesla (TSLA) 3-for-1 stock split becomes effective. The electric vehicle's first stock split was a 5-for-1 split in 2020.
  • All day - The Federal Reserve's Jackson Hole Symposium could make headlines with traders looking for more clues on the expected pace and size of rate hikes.
  • All day - S&P Global Ratings will hold its quarterly interactive, live webinar on the U.S. Life and P&C insurance markets.
  • 11:00 a.m. Bluejay Diagnostics (BJDX) will hold a virtual Key Opinion Leader event on IL-6 Testing in critical care settings. Shares of BJDX have rallied in the past off IL-6 developments.
  • 1:30 p.m. The Toronto-Dominion Bank (TD) earnings call will take place amid heightened interest over the First Horizon Corporation (FHN).
  • Postmarket - Stocks due to report earnings with double-digit share price moves implied by options trading include Farfetch (FTCH), Affirm Holdings (AFRM), and Domo (DOMO). All three stocks soared the last time they reported earnings.

Friday - August 26

  • All day - It is the last trading day before the FDA action date on Amicus Therapeutics' (FOLD) for the Biologics License Application for cipaglucosidase alfa and the New Drug Application for miglustat, which are the two components of AT-GAA. Shares of Amicus Therapeutics have rallied in the past off AT-GAA developments.
  • 10:00 a.m. Federal Reserve Chairman Jerome Powell will give a highly-anticipated speech at the Fed's Jackson Hole Forum.

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