Lisa Blue
Welcome to Seeking Alpha’s Catalyst Watch – a breakdown of some of next week’s hands-on events that stand out. Read more about the events that could affect share prices next week.
Monday – April 15th
Volatility watch – Options trading volume was increased on electric vehicle stock Nikola (NKLA) and Rivian Automotive (RIVN). The most overbought stocks according to their 14-day relative strength index include Iczoom Group (EXEC), Galectin Therapeutics (GALT), IMPACT Silver (OTCQB:ISVLF). The most oversold stocks according to their 14-day relative strength index include Perion (PERI), Sirius XM (SYRI), and Globe Life (GL). Investors will also keep their eyes on Capri Holdings (CPRI) and Tapestry (TPR) amid concerns over the Federal Trade Commission’s review of the planned $8.5 billion merger. The European Commission’s Phase 1 investigation into the CPRI-TPR agreement expires on 15 April. Trump Media & Technology (DJT) is also looking at a slide of 24% in just one week. All week – The Bitcoin (BTC-USD) halving event will be a big focus in the cryptocurrency world. The halving event will reduce the rate at which new Bitcoins are created by cutting the reward to so-called miners who maintain the Bitcoin network. Some of the stocks that have been volatile around speculation about the impact of the Bitcoin halving event include Coinbase Global (COIN), Riot Blockchain (RIOT), Marathon Digital Holdings (MARA), Hut 8 Mining (HUT), CleanSpark (CLSK), and Microstrategy (MSTR). Bitcoin appreciated an average of 59% in the six months following the last two halvings. All week – Data reports expected to be released include the latest update from credit card lenders on delinquencies and charge-offs. Delinquency rates at American Express (AXP), JPMorgan Chase (JPM), Citigroup (C) and Bank of America (BAC) are currently below their pre-pandemic levels of February 2020. All week – TED2024 will run all week. Some of the notable speakers related to the stock market include Bill Ackman talking about the activist investor playbook and Google ( GOOG ) DeepMind CEO Demis Hassabis talking about the future of AI. All week – The four-day NAB Show in Las Vegas will have a focus on topics such as cybersecurity, the rise of 5G and the role of AI in media. Sony ( SONY ), Verizon ( VZ ), Sinclair ( SBGI ), Fujifilm ( OTCPK:FUJIY ), Beamr ( BMR ), InterDigital ( IDCC ), and Backblaze ( BLZE ) are among the companies that will showcase their products and innovations . . All Week – Ibotta (IBTA) and Centuri (CTRI) are expected to price their IPOs and begin trading. The IPO silence periods are expiring on Reddit ( RDDT ), Astera Labs ( ALAB ), Intelligent Group ( INTJ ) and Auna ( AUNA ) to free up analysts to post ratings. Earnings Watch – Notable companies due to report include Goldman Sachs (GS), Charles Schwab (SCHW) and M&T Bank (MTB). 08:30 The March Retail Sales report will be released. Economists forecast a 0.4% month-on-month rise in the head count. 10:00 am Ancora’s candidates for the CEO, COO position and board seats at Norfolk Southern (NSC) will participate in a fireside chat with Deutsche Bank.
Tuesday – April 16th
Earnings Watch – Notable companies due to report include UnitedHealth ( UNH ), Johnson & Johnson ( JNJ ), Bank of America ( BAC ), Morgan Stanley ( MS ), Rio Tinto ( RIO ), and United Airlines ( UAL ). All day – Baidu ( BIDU ) will host its annual flagship AI developer conference at the Shenzhen World Exhibition and Convention Center. Robin Li, co-founder, chairman and CEO of Baidu, will deliver a keynote speech, which will be his first major public speech of 2024. All day – The IMF will release its latest World Economic Outlook. 8:30 am Housing starts for March will be reported. Economists forecast a drop to 1.48M for the month from 1.52M in February.
Wednesday – April 17th
Earnings Watch – Notable companies due to report include Abbott Laboratories ( ABT ), US Bancorp ( USB ), Kinder Morgan ( KMI ), VinFast Auto ( VFS ), Las Vegas Sands ( LVS ), and CSX ( CSX ). All Day – Volkswagen (OTCPK:VLKAF) workers at the automaker’s plant in Chattanooga, Tenn., will hold a three-day vote on joining the United Auto Workers union. All day – The Federal Reserve will release its Beige Book report. All Day – A Senate subcommittee hearing will feature testimony from Boeing ( BA ) CEO David Calhoun. Engineer Sam Salehpour is expected to provide details on safety issues regarding the manufacturing and assembly of the 787 Dreamliner. Boeing’s shares are down 33% on a year-to-date basis. All Day – Shareholders with Kaman ( KAMN ) will vote on Arcline’s $1.8 billion buyout offer. 16:15 GreenPower Motor (GP) will hold a webinar to share insight into the company’s strategic positioning and growth trajectory. 5:30 pm Cleveland Federal Reserve Bank President Loretta Mester will give an update on the Fed before the South Franklin Circle Dialogues Series.
Thursday – 18 April
Earnings Watch – Notable companies due to report include Netflix (NFLX), Blackstone (BX), Ally Financial (ALLY), Taiwan Semiconductor Manufacturing (TSM), and Intuitive Surgical (ISRG). All Day – It’s the five-year anniversary date of the IPOs for Zoom Video (ZM) and Pinterest (PINS). 9:00 am Benitec Biopharma (BNTC) will host a virtual R&D day. The event will feature two key opinion leaders who will discuss the clinical symptoms and natural history of oculopharyngeal muscular dystrophy, a rare genetic muscle disorder. 9:15 am New York Federal Reserve Bank President John Williams will participate in a moderated discussion before the Semaphore World Economic Summit. 11:00 am Atlanta Federal Reserve Bank President Raphael Bostic will talk about the economic outlook, monetary policy and real estate in a moderated armchair conversation at the University of Miami Herbert Business School.
Friday – April 19
Earnings Watch – Notable companies due to report include Procter & Gamble (PG) and American Express (AXP). At 8:30am, Procter & Gamble (PG) will hold its earnings conference call. Colgate-Palmolive ( CL ) and Walmart ( WMT ) are the two stocks with the highest trading correlation with P&G on earnings day. 10:30 a.m. Federal Reserve Bank of Chicago President Austan Goolsbee will participate in a Q&A session.
Looking for Alpha editor Josh Fineman contributed to this story.
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