franckreporter
Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Seeking Alpha's earnings calendar for a full list of companies due to report.
Monday - April 29
- Volatility watch - Options trading volume is elevated on Annovis Bio (ANVS) and Petrobras (PBR). Short interest moved even higher over the last week on Scholar Rock (SRRK) and NuScale Power (SMR). The most overbought stocks per their 14-day Relative Strength Index include Cannabix Technologies (OTCPK:BLOZF), Macatawa Bank (MCBC), and Alpine Immune (ALPN). The most oversold stocks per their 14-day Relative Strength Index include Ocular Therapeutix (OCUL), Kopin (KOPN), and CarParts.com (PRTS). Citi has Coty (COTY) and Plains All American Pipeline (PAA) singled out as two stocks that may see near-term rallies.
- Earnings watch - Notable companies due to report include NXP Semiconductors (NXPI), ON Semiconductor (ON), MicroStrategy (MSTR), and Domino's Pizza (DPZ). Options trading implies a sizable share price swing for Chegg (CHGG) and Medifast (MED) after their reports are released.
- All day - Atlassian (TEAM) co-CEOs Mike Cannon-Brookes and Scott Farquhar will be speakers at the company's Team24 conference.
- All day - Riot Platforms (RIOT) will participate in the AIM Summit in London.
Tuesday - April 30
- Earnings watch - Notable companies due to report include Amazon (AMZN), Eli Lilly (LLY), Coca-Cola (KO), AMD (AMD), McDonald's (MCD), Starbucks (SBUX), PayPal (PYPL), Caesars Entertainment (CZR), and Mondelez International (MDLZ). Options trading implies a double-digit share price swing for Super Micro Computer (SMCI) and Lemonade (LMND) after their reports are released.
- All day - It is the ranking date for the Russell U.S. Index. Closing prices will be used for the 2024 Russell reconstitution of the firm's U.S. indexes.
- All day - It is the FDA action date for X4 Pharmaceuticals' (XFOR) Mavorixafor drug candidate.
- All day - A.P. Moller - Maersk (OTCPK:AMKBF) (OTCPK:AMKBY) will officially spin off Svitzer Group, which is the company's towage and marine services activities unit.
Wednesday - May 1
- Earnings watch - Notable companies due to report include CVS Health (CVS), Qualcomm (QCOM), Pfizer (PFE), Kraft Heinz (KHC), Mastercard (MA), Marriott International (MAR), DoorDash (DASH), MetLife (MET), MGM Resorts (MGM), eBay (EBAY), and DuPont (DD). Options trading implies a double-digit share price swing for Carvana (CVNA), Avis Budget (CAR), and Rush Street Interactive (RSI) after their reports.
- Data watch - Chinese electric vehicle makers NIO (NIO), Li Auto (LI), and XPeng (XPEV) will update on monthly deliveries. Shares of Tesla (TSLA) have been volatile over the last year following the China EV demand updates. Of interest to the video game sector, Circana will release monthly hardware and software data.
- All day - Atlassian (TEAM) will host its Investor Day with financial analysts and investors.
- All day - Viking Holdings (VIK) is anticipated to start trading after pricing its IPO. The cruise line stock will join Royal Caribbean (RCL), Norwegian Cruise Line Holdings (NCLH), Carnival (CCL), and Lindblad Expeditions (LIND) in a sector that has seen choppy returns in 2024.
- 2:00 p.m. The FOMC will issue a statement on interest rates and monetary policy.
- 2:30 p.m. Federal Reserve Chairman Jerome Powell will hold a press conference.
Thursday - May 2
- Earnings watch - Notable companies due to report include Apple (AAPL), Shell (SHEL), ConocoPhillips (COP), Amgen (AMGN), Booking Holdings (BKNG), and Fortinet (FTNT). Options trading implies double-digit share price swings for Peloton Interactive (PTON) and Coinbase Global (COIN) after their reports.
- All day - It is the five-year anniversary of the Beyond Meat (BYND) IPO. The IPO was priced at $25 per share, and the stock surged to $234.90 on July 26, 2019. At the time of publication, Beyond Meat (BYND) was trading at $6.34.
- 10:00 a.m. MongoDB (MDB) will host an investor session at MongoDB.local in New York City. Keynote presentations are scheduled from CEO Dev Ittycheria and Chief Product Officer Sahir Azam.
- 5:00 p.m. Apple (AAPL) will hold its earnings conference call. Key suppliers that have a high trading correlation with Apple following the company's earnings report include Amkor Technology (AMKR), Qualcomm (QCOM), and Skyworks (SWKS).
Friday - May 3
- Earnings watch - Notable companies due to report include Hershey (HSY), Cheniere Energy (LNG), and Magna International (MGA).
- M&A watch - The exclusivity period on the Paramount Global (PARA)-Skydance Media deal ends. The go-shop period expires on the Cadent buyout offer on AdTheorent Holding (ADTH). The preliminary proxy is due on the Model N (MODN)-Vista Equity Partners deal.
- 8:30 a.m. The Bureau of Labor Statistics will release the April Employment Situation report. Economists forecast the U.S. economy added 210K nonfarm jobs during the month, after 303K jobs were added in March. The unemployment rate is expected to remain at 3.8%, and average hourly earnings are seen rising 0.3% month-over-month.
- 11:00 a.m. Hyatt Hotels (H) will hold a conference call to discuss the company's segment realignment.
- 12:30 p.m. Sagimet Biosciences (SGMT) will host a virtual investor and analyst day.
Seeking Alpha Editor Josh Fineman contributed to this story.