COGT - Catalyst Watch: Apple's WWDC event OPEC fallout and REITs on display

2023-06-02 15:00:55 ET

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 - June 5

• Volatility watch - Options trading volume is elevated in general on FibroGen ( FGEN ) and Rayonier Advanced Materials ( RYAM ). In the volatile semiconductor sector, some of the stocks named as crowded shorts strictly on a comparative basis include Marvell Technologies ( MRVL ), Credo Technology ( CRDO ), and Entegris ( ENTG ).
• OPEC watch - Energy traders will start the week processing the developments from the weekend meeting of OPEC's Joint Ministerial Monitoring Committee. OPEC and its partners will meet in Vienna to review the state of the oil markets ( CL1:COM ).
• ASCO focus - Merck ( MRK ) will host an Oncology Investor Event to coincide with the ASCO Annual Meeting, at which senior management will provide an update on the company’s oncology strategy and program. Moderna ( MRNA ) will also hold an investor event related to its ASCO abstracts.
• All day - Cisco ( CSCO ) will hold its four-day Cisco Live! IT event in Las Vegas. CEO Chuck Robbins will be one of the key speakers.
• All day - The 3M ( MMM ) firefighting foam trial is slated to begin amid reports a settlement is in the works.
• 8:00 a.m. Cogent Biosciences ( COGT ) will hold an investor webcast to discuss lead-in data from its ongoing Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib in patients with Gastrointestinal Stromal Tumors.
• 8:00 a.m. Oncolytics Biotech ( ONCY ) will hold a KOL event that will cover the current treatment landscape for HR+/HER2- metastatic breast cancer, as well as results from the randomized Phase 2 BRACELET-1 study.
• 1:00 p.m. Apple ( AAPL ) will hold its WWDC23 event. The tech giant is expected to unveil its augmented reality headset, a new 15-inch MacBook Air and an Apple Silicon-powered Mac. Along with the usual OS updates, Apple could also detail its AI strategy for the first time. Outside of Cupertino, Barclays tipped that Apple's long-awaited entrance to mixed reality may help validate the tens of billions of dollars that Meta Platforms ( META ) has invested over the past decade into the space.
• 2:00 p.m. Lumen Technologies ( LUMN ) will hold an investor day event to discuss the company's key priorities, initiatives, and outlook for its return to growth.

For further details see: