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Welcome to Seeking Alpha’s Stocks to Watch – a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning.
We are about 90% of the way through the earnings seasons, but a couple of heavy hitters near the bottom of the order are due up next week, with Home Depot (NYSE:HD) set to spill numbers on November 13 and Walmart (NYSE:WMT) on November 15. There’s a different vibe with the two Dow components from the retail sector as Home Depot is down 4% since its Q2 report amid a slowing housing market, while Walmart is up 14% on high hopes for U.S. consumer spending. Keep an eye on e-commerce sales updates for both companies after growth sizzled in Q2 (HD +26% Y/Y, WMT +40%). There’s also the question of how management is steering around higher labor and transportation costs. On the economic front, reports are due out on consumer prices (+2.2% Y/Y est.) and retail sales (+0.4% M/M est.) for October. Meanwhile, Federal Reserve Chairman Jerome Powell and Dallas Federal Reserve Bank President Robert Kaplan are scheduled to discuss national and global economic issues in Dallas, Texas on November 14. Perhaps the biggest story of all to watch next week is in the oil market after crude oil posted its longest losing streak in ten years with ten straight down days. Will it bubble back up next week?
Notable earnings reports: Home Depot (HD), JD.com (NASDAQ:JD), Tilray (NASDAQ:TLRY), on November 13; Macy’s (NYSE:M), Cisco (NASDAQ:CSCO) on November 14; Walmart (WMT), Applied Materials (NASDAQ:AMAT), Nvidia (NASDAQ:NVDA), J.C. Penney (NYSE:JCP) and Nordstrom (NYSE:JWN) on November 15; Viacom (NASDAQ:VIAB) on November 16. See Seeking Alpha’s Earnings Calendar for the complete list of earnings reporters.
IPOs expected to price: Vapotherm (VAPO) on November 13; Centrexion Therapeutics (CNTX) and Qualtrics (XM) on November 14.
IPO lockup expirations: Blink Charging (NASDAQ:BLNK) on November 12; Pluralsight (NASDAQ:PS) on November 13; BSR Real Estate on November 14.
Analyst quiet period expirations: Studio City (NYSE:MSC), Si-Bone (NASDAQ:SIBN), Osmotica Pharmaceuticals (NASDAQ:OSMT) on November 12; Niu Technologies (NASDAQ:NIU), SolarWinds (NYSE:SWI),LogicBio Therapeutics (NASDAQ:LOGC) on November 13.
Cloud wars: The Government Accountability Office is due to make a decision on Oracle’s (NYSE:ORCL) challenge of the Pentagon’s winner-take-all cloud computing contract. IBM (NYSE:IBM) is also protesting the one winner concept that covers ten years of cloud services for the Department of Defense. Staying pretty quiet on the issue is Amazon (NASDAQ:AMZN), with the e-commerce giant seen as the top contender to win the massive Jedi cloud computer contract, although Wedbush Securities tipped that Microsoft (NASDAQ:MSFT) is gaining ground.
Projected dividend changes: Brown-Forman (NYSE:BF.B) to $0.168 from $0.158, DTE Energy (NYSE:DTE) to $0.94 from $0.8825 ,HP Inc (NYSE:HPQ) to $0.165 from $0.1393, Hormel (NYSE:HRL) to $0.205 from $0.1875, Nike (NYSE:NKE) to $0.22 from $0.20, Nvidia (NVDA) to $0.17 from $0.15, Everest Re (NYSE:RE) to $1.35 from $1.30, Sysco (NYSE:SYY) to $0.38 from $0.36, American Equity (NYSE:AEL) to $0.29 from $0.26, Acadia Realty (NYSE:AKR) to $0.28 from $0.27, Cathay General (NASDAQ:CATY) to $0.29 from $0.24, CDK Global (NYSEARCA:CDK) to $0.165 from $0.15, Energizer Holdings (NYSE:ENR) to $0.305 from $0.29, Ethan Allen (NYSE:ETH) to $0.21 from $0.19, Griffon (NYSE:GFF) to $0.08 from $0.07, Lancaster Colony (NASDAQ:LANC) to $0.65 from $0.60, Matthews (NASDAQ:MATW) to $0.21 from $0.19, MDU Resources (NYSE:MDU) to $0.2025 from $0.1975, National Storage (NYSE:NSA) to $0.31 from $0.29, Royal Gold (NASDAQ:RGLD) to $0.26 from $0.25, Spire (NYSE:SR) to $0.595 from $0.5625, United Bankshares (NASDAQ:UBSI) to $0.35 from $0.34, Valvoline (NYSE:VVV) to $0.10 from $0.0745.
Infrastructure redux: The infrastructure trade is being run up the flagpole again as analysts debate if the GOP and the Democrats can reach an agreement on some sort of spending package next year. Infrastructure is seen as one of the few areas where the parties might find some common ground, even after President Trump’s proposed $1.5T package failed to advance last spring. Of course, the trick will be to find and agree upon the offsetting tax revenue/spending cuts to keep the deficit from expanding further. The list of usual suspects seen gaining from infrastructure legislation talk includes AECOM Technology (NYSE:ACM), Caterpillar (NYSE:CAT), Cemex (CMX), Deere (NYSE:DE), Eagle Materials (NYSE:EXP), Fluor (NYSE:FLR), Granite Construction (NYSE:GVA), KBR (NYSE:KBR), Martin Marietta Materials (NYSE:MLM), Primerica (NASDAQ:PRIM), U.S. Concrete (NASDAQ:USCR) and Vulcan Materials (NYSE:VMC).
Analyst/investor meetings: Kellogg (NYSE:K) and Overstock.com (NASDAQ:OSTK) on November 13; Fluor (FLR) on November 16.
Bright lights on Ford and auto: Ford (NYSE:F) is one of the headliners at the Barclays Barclays Global Automotive Conference in New York on November 14-15. Global operation VP Joe Hinrich is due to update on the company’s previously announced fitness initiatives, as well as progress the company is making to redesign its global operations. His focus during the presentation will be on complexity management, capital equipment reuse and yield management. Of course, investors will want to know how it all translates into share price gain after watching Ford limp along with -21% return over the last 52 weeks. Also due to present at the event are execs with General Motors (NYSE:GM), BorgWarner (NYSE:BWA) and Avis Budget (NASDAQ:CAR).
Clear skies at 35K feet: It sounds pretty obvious, but there’s a reminder out from Macquarie that airlines stand to see a “material” boost to Q4 EPS from the dramatic fall in jet fuel prices. The double-digit drop in jet fuel prices over the last month arrives just as higher fares continue to roll out without a large degree of consumer pushback. Airline stocks trading with a single-digit forward PE ratio include Mesa Air (NASDAQ:MESA), American Airlines Group (NASDAQ:AAL), Delta Air Lines (NYSE:DAL), United Continental (NASDAQ:UAL) and Hawaiian Holdings (NASDAQ:HA). Checking in with PE ratios below 12 are Azul (NYSE:AZUL), Spirit Airlines (NASDAQ:SAVE), Alaska Air Group (AAL), Southwest Airlines (NYSE:LUV), JetBlue (NASDAQ:JBLU), Allegiant Travel (NASDAQ:ALGT) and SkyWest (NASDAQ:SKYW). Next week, expect to see more traffic updates from airline companies and some guidance updates.
Electric news from Wolfsburg: Don’t be surprised to hear quite a bit of noise out of the Volkswagen (OTCPK:VWAGY) supervisory board meeting on November 16. The German automaker is expected to update on its “extensive cooperation” plans with Ford in electric vehicles and autonomous development – as well as dish out more details on the upcoming MEB platform, which is reportedly going to be used to develop cars priced as low as €20K ($22.8K). Volkswagen’s update on pricing, production targets and self-driving targets coming out of Wolfsburg be more than just a little bit interesting to Toyota (NYSE:TM), Hyundai (OTCPK:HYMLF), Tesla (NASDAQ:TSLA), Waymo (GOOG, GOOGL), Uber (UBER), Lyft (LYFT), BMW (OTCPK:BMWYY) and Daimler (OTCPK:DDAIF).
Volatility watch: Looking for action? The list of battleground stocks with a short interest level of over 30% of float includes Akcea Therapeutics (NASDAQ:AKCA), Gogo (NASDAQ:GOGO), MiMedx (OTC:MDXG), Match Group (NASDAQ:MTCH), Overstock.com (OSTK), Hibbett Sports (NASDAQ:HIBB), Viking Therapeutics (NASDAQ:VKTX), Fossil (NASDAQ:FOSL), Stitch Fix (NASDAQ:SFIX), Papa John’s International (NASDAQ:PZZA), Shoe Carnival (NASDAQ:SCVL), Tesaro (NASDAQ:TSRO) and iRobot (NASDAQ:IRBT).
Supercomputers and more: The International Conference for High Performance Computing, Networking, Storage, and Analysis (or SC18 for short) runs from November 11-16 in Dallas. The event typically sees some high performance computers and new tech shown off for the first time. Netlist (NASDAQ:NLST), Cray (NASDAQ:CRAY) and Tyan are some of the companies due to appear at SC18.
FDA watch: Theravance Biopharma (NASDAQ:TBPH) and Mylan (NASDAQ:MYL) has PDUFA target action date of November 13 on the company’s NDA for revefenacin (TD-4208). If approved, revefenacin would be the first once-daily, nebulized bronchodilator for the treatment of chronic obstructive pulmonary disease. The FDA has a PDUFA target action date of November 16 on Mallinkrodt’s (NYSE:MNK) drug application for the company’s abuse-deterrent formulation MNK-182. Mallinckrodt is advancing the reformulation of Roxicodone (oxycodone hydrochloride tablets USP) with properties designed to deter intravenous and intranasal abuse.
M&A tidbits: The Staples tender offer for Essendent (NASDAQ:ESND) expires on November 12. The B. Riley Financial (NASDAQ:RILY)-MagicJack (NASDAQ:CALL) deal is expected to close on November 14. The go-shop period on the InfrREIT (NYSE:HIFR)-Oncor (NYSE:SRE) deal expires on November 16.
Stifel Health Care Conference:: Companies due to present at the conference running in New York from November 13-14 includes Acorda Therapeutics (NASDAQ:ACOR), Array BioPharma (NASDAQ:ARRY), Genesis Healthcare (NYSE:GEN), LeMaitre Vascular (NASDAQ:LMAT), Xenon Pharmaceuticals (NASDAQ:XENE), Chhimerix (NASDAQ:CMRX), Geron (NASDAQ:GERN), Jazz Pharmaceuticals (NASDAQ:JAZZ), Tetraphase Pharmaceuticals (NASDAQ:TTPH) and Mednax (NYSE:MD).
Box office preview: Universal’s (NASDAQ:CMCSA) Dr. Seuss’ The Grinch is expected to haul in over $60M in the U.S. for its opening weekend at 4,141 theaters. Holdover 20th Century Fox’s (NASDAQ:FOXA) Bohemian Rhapsody is expected to draw in another $30M, while Paramount’s Overlord is forecast to tally up $11M.
Barron’s mentions: Boeing (NYSE:BA), Lockheed Martin (NYSE:LMT) and General Dynamics (NYSE:GD) are seen extending on their pre-election rallies, with the divided Congress a positive for defense spending. There’s a recommendation to sell Kroger (NYSE:KR) after the recent rally pushed valuation outside of the historic norm. Volkswagen (OTCPK:VWAGY) is called cheap by the publication, with an eye on the growing profit at the automaker despite all the headline issues.
Sources: Nasdaq, EDGAR, Reuters, Bloomberg, South China Morning Post
Editor’s Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.
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