COIN - Catalyst Watch: Earnings season picks up steam housing data due

2023-04-14 13:30:11 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 for a full list of events planned for the week or the Seeking Alpha earnings calendar for companies due to report.

Monday, April 17

Volatility Watch: Coinbase ( COIN ), CarMax ( KMX ), and GameStop ( GME ) top S3 Partners' list of “most squeezable stocks” into late April. CarMax ( KMX ) moved sharply upward following a recent earnings result , pulling peers like Carvana ( CVNA ) and Lithia Motors ( LAD ) upward alongside it. AutoNation ( AN ) and Lithia are expected to post results in the upcoming week. Elsewhere, Tupperware ( TUP ) stock has been extremely volatile in recent days after engaging advisors and issuing a Going Concern warning.

Dividend Watch: H.B. Fuller Company ( FUL ), Colgate-Palmolive Company ( CL ), Williams-Sonoma ( WSM ), IBM ( IBM ), and Kinder Morgan ( KMI ) are on the radar for potential dividend increases in the week. Both Johnson & Johnson ( JNJ ) and Procter & Gamble ( PG ) increased dividend payments prior to their upcoming earnings reports.

Earnings Watch: The Charles Schwab Corporation ( SCHW ), State Street Corporation ( STT ), M&T Bank Corporation ( MTB ), and Pinnacle Financial Partners ( PNFP ) are expected to kick off a week packed with financial reports. JB Hunt Transportation ( JBHT ) is also anticipated to post quarterly results.

Healthcare Watch: Canadian biotechnology company Zymeworks ( ZYME ) will host a conference call on Monday. Also on Monday, Needham and Company has scheduled its 22nd Annual Healthcare Conference 2023 to kick off. The agenda includes Viking Therapeutics ( VKTX ), Shattuck Labs ( STTK ), Rocket Pharmaceuticals ( RCKT ), PepGen ( PEPG ), Gracell Biotechnologies ( GRCL ), and Paragon 28 ( FNA ) among others. Elsewhere, the American Association of Neurological Surgeons (AANS) Annual Scientific Meeting is scheduled for Tuesday and the American Association of Cancer Research (AACR) Annual Meeting will progress through the week. Massachusetts-based biotech firm and 2022 IPO Prime Medicine ( PRME ) will reach its lockup expiration.

8:30 AM - Empire State Manufacturing Index data is expected. In March, the index fell 19 points to -24.6, with businesses expecting “little improvement in conditions over the next six months,” according to the print. A -16.4 reading is expected for the April survey, per Bloomberg.

10:00 AM - NAHB Housing Index data is due. In March, the index rose to 44 against a 41 consensus. The index is anticipated to remain unchanged sequentially, which would break a multi-month improvement streak.

All Day  - The 2023 Space Symposium will kick off in Colorado. Sponsors include Northrop Grumman ( NOC ), Raytheon ( RTX ), Ball Corporation ( BALL ), Oracle ( ORCL ), Amazon ( AMZN ), BAE Systems ( OTCPK:BAESY ), Palantir ( PLTR ), and Maxar Technologies ( MAXR ). Speakers are expected from Rocket Lab USA ( RKLB ) and Intuitive Machines ( LUNR ) as well.

Tuesday, April 18

Earnings Watch: Netflix ( NFLX ) headlines earnings reports on Tuesday, one year after an inauspicious Q1 report sent shares spiraling downward. The day is also the busiest day for bank earnings with Bank of America ( BAC ), Goldman Sachs ( GS ), Western Alliance Bancorp ( WAL ), Silvergate Capital ( SI ), and Bank of New York Mellon ( BK ) all due to report. Elsewhere, Lockheed Martin ( LMT ) and Johnson & Johnson ( JNJ ) are expected to provide quarterly updates.

All Day - The Shanghai International Automobile Industry Exhibition will take place in China. Tesla ( NASDAQ: TSLA ) is notable by its absence from the agenda.

All Day - Signet Jewelers ( SIG ) will host its 2023 Investor Day. Other events expected include annual meetings from Bloomin Brands ( BLMN ) and Whirlpool Corporation ( WHR ).

8:30 AM - Housing starts data from March is expected to reflect a 3.1% decline, down from a 9.8% jump in February.

1:00 PM - Governor Michelle W. Bowman will offer a speech entitled “Considerations for a Central Bank Digital Currency” at the Psaros Center for Financial Markets and Policy Event at Georgetown University.

Wednesday, April 19

Earnings Watch: In likely the most closely-watched report of the week, Tesla ( TSLA ) will post its Q1 results after the bell on Wednesday. Bank earnings will also continue as Morgan Stanley ( MS ), US Bancorp ( USB ), Discover Financial ( DFS ), Synchrony Financial ( SYF ), Zions Bancorporation ( ZION ), Ally Financial ( ALLY ), and Citizens Financial Group ( CFG ) are expected to post results. American Airlines ( AAL ) is also due to report quarterly earnings, one week after providing preliminary results.

Investor Events: Sherwin Williams ( SHW ) will host its virtual shareholder meeting. Other investor events include Imperial Oil’s ( IMO ) Investor Day. Airbus ( OTCPK:EADSY ) will also hold its Annual General Meeting of Shareholders, starting at 1:30 PM local time in Amsterdam. Finally, Snap Inc. ( SNAP ) will host its 2023 Partner Summit, billed as an event wherein the company will “share news about our latest innovations, partnerships, and creator tools that enhance the Snapchat community’s relationships.”

7:00 AM - MBA 30-year mortgage rate and mortgage application data is due

10:30 AM - Gasoline and crude oil inventory reports are expected. Crude oil imports, heating oil stockpiles, as well as gasoline production data will also be provided by the Energy Information Administration.

1:00 PM - Fed Governor Christopher J. Waller will speak at a conference entitled, “Cryptocurrency and the Future of Global Finance” at the University of Florida.

2:00 PM - Fed Beige Book data is due for release

Thursday, April 20

Earnings Watch: AT&T ( T ) will headline another busy day of reports that includes rail operators Union Pacific ( UNP ) and CSX Corporation ( CSX ) as the first to report since high-profile derailments in February. Philip Morris ( PM ), Taiwan Semiconductor Manufacturing ( TSM ), American Express ( AXP ), Stellantis ( STLA ), Nucor ( NUE ), and AutoNation ( AN ) are also expected to post quarterly updates.

Investor Events: Biglari Holdings ( BH ), the parent company of Steak n’ Shake and Maxim Magazine among other properties, will host an annual meeting. Kimberly Clark ( KMB ), Lithia Motors ( LAD ), and Adobe ( ADBE ).

8:30 AM - April Continuing Claims data is expected after a report of 1.81M in March

8:30 AM - April Initial Jobless Claims data is due. The consensus estimate stands at 238,000, down from March’s report of 239,000

8:30 AM - April Philadelphia Fed Business Outlook is anticipated, with a reading of -19, improved from -23.2 in March.

3:00 PM - Governor Michelle W. Bowman will provide opening remarks at an event hosted by the Federal Reserve Bank of Dallas

Friday, April 21

Earnings Watch: Procter & Gamble ( PG ) leads a host of reports including SAP SE ( SAP ), SLB ( SLB ), Autoliv ( ALV ), Freeport McMoran ( FCX ), Biogen ( BIIB ), and Kinder Morgan ( KMI ) on Friday.

All Day - L3 Harris Technologies ( LHX ) will host its annual general meeting.

9:45 AM - Manufacturing PMI and Services PMI is expected. US Services PMI is expected to contract to 51.5 from a prior 52.6 in March, while manufacturing is expected to remain flat at 49.2.

1:00 PM - Baker Hughes Rig Count

Friday is the final day before an FOMC blackout period that will run through May.

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