BYDDF - Stocks To Watch: Nvidia Lowe's Deere And Best Buy Line Up To Report

2023-11-18 10:30:00 ET

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The holiday-shortened week will include a flurry of earnings reports just before Thanksgiving. The headliner will be Nvidia (NVDA), which has been on an AI-fueled rally of late. Lowe's (LOW), Analog Devices (ADI), Autodesk (ADSK), Best Buy (BBY), Baidu (BIDU), Deere (DE), and DICK's Sporting Goods (DKS) are some of the other notable companies that will enter the earnings confessional. The economic calendar will be dominated by global flash PMIs for November, and the durable goods order report or the U.S. interest rate watchers will also have their eyes on the Federal Reserve's release of minutes from the FOMC meeting and the European Central Bank's accounting of its last meeting.

Earnings spotlight: Monday, November 20 - Zoom Video (ZM) and BellRing Brands (BRBR).

Earnings spotlight: Tuesday, November 21 - Nvidia (NVDA), Lowe's (LOW), Medtronic (MDT), Analog Devices (ADI), Autodesk (ADSK), Best Buy (BBY), Baidu (BIDU), DICK's Sporting Goods (DKS), Burlington Stores (BURL), HP (HPQ), Nordstrom (JWN), and Jack in the Box (JACK)

Earnings spotlight: Wednesday, November 22 - Deere (DE).

Volatility watch: Short interest levels have pushed even higher on Faraday Future Intelligent Electric (FFIE) and Beyond Meat (BYND). Options trading volume has moved higher on MorphoSys AG (MOR) and Ebix (EBIX). The most overbought stocks per their 14-day relative strengh index are Myomo (MYO), E-Home (EJH), and Bluegreen Vacations Holding (BVH). The most oversold stocks per their 14-day Relative Strength Index are reAlpha Tech (AIRE), Ventyx Bio (VTYX), and Aclaris (ACRS).

IPO watch: Docola (DOCO) is expected to start trading next week. The company, which aims to provide a free patient care communication platform, is offering 1.06M units at a targeted price of between $5.75 and $6.75. The IPO lockup period will expire on certain blocks of shares of Foremost Lithium Resource & Technology (FMST) and Atmus Filtration Technologies (ATMU). The quiet period ends on Mach Natural Resources (MNR) to free up analysts to post ratings.

Nvidia earnings preview: Nvidia (NVDA) will report Q3 earnings on November 21 to high expectations. The tech giant is expected to announce revenue of $15.99B for the quarter and EPS of $3.37. Key topics from the Santa Clara-based company will be the impact of China export controls, the product roadmap, the update on the data center supply chain, hyperscale commentary, and color on AI services revenue. Ahead of the report, Morgan Stanley noted that the gap between supply and demand has been so wide for the company that even shaving off peak demand has had no impact. Nvidia heads into earnings day on a hot streak, with shares already up 240% year-to-date. Options trading implies a swing in share price up or down of 8% for Nvidia after the earnings report drops.

Auto shows: The 116th Los Angeles Auto Show will run from November 17-26. The show will feature displays and brand showcases from Acura, Cadillac, Chevrolet, Ford, Genesis, Honda, Hyundai, Jaguar, Kia, Land Rover, Lexus, Lincoln, Lucid, Mazda, Nissan, Polestar, Porsche, Subaru, Toyota, Volkswagen, and Volvo. There will also be driving and demo opportunities with Cadillac, Chevrolet, Ford, Hyundai, Kia, Lucid, Nissan, Polestar, Porsche, Verge Motorcycles, Volkswagen, and Volvo. Ford (F) will bring an array of new vehicles and activities that include the "Bronco Off-Roadeo Ride Experience" and vehicle debuts, including a new Mustang Special Edition and the Ford "Gamer Van" – a custom collaboration with Full Gaming Squad based on the Transit Trail. Meanwhile, Nissan (NSANY) and Volkswagen (VLKAF) have collaborated to provide attendees a co-located EV Track Experience, while Hyundai will again provide indoor test rides on its enclosed exhibitor EV track. The LA Auto Show media preview included the official reveal of the Lucid Gravity electric SUV and an announcment that Amazon (AMZN) will partner with Hyundai (HYMLF) to sell cars through its e-commerce platform. Across the Pacific Ocean, the Guangzhou Auto Show is considered the most important auto show for the second half of the year. Automakers expected to show off new models include SAIC, Li Auto (LI), XPeng (XPEV), Leapmotor, BYD Company (BYDDF), Fang Cheng, Changan, Cadillac, Geely, HiPhi, ZEEKR, and the first model jointly developed by Chery and Huawei.

Conference schedule: The Needham Consumer Tech E-Commerce Virtual Conference on November 20 will feature participation from Genius Sports (GENI), Sportradar (SRAD), Etsy (ETSY), ACV Auctions (ACVA), Beachbody (BODY), and Redfin (RDFN).

Box Office preview: Lions Gate's (LGF.A) The Hunger Games: The Ballad of Songbirds & Snakes is expected to lead the box office over the weekened with a haul of between $42M and $55M, although that tally would make the prequel the first film in the Hunger Games franchise to debut under $100M. Universal's (CMCSA) Trolls Band Together, horror movie Thanksgiving, and Disney (DIS) holdover The Marvels are expected to battle for second place.

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