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Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Read more about the events that may impact stock prices next week.
Monday - May 27
- All day - The U.S. stock markets will be closed for observance of the Memorial Day holiday.
Tuesday - May 28
- Volatility watch - Options trading volume is elevated again on Barnes & Noble Education (BNED) and Faraday Future Intelligent Electric (FFIE). The most overbought stocks per their 14-day relative strength index include Solowin (SWIN), Zeta (ZETA), and Global Ship Lease (GSL). The most oversold stocks per their 14-day Relative Strength Index include Seritage Growth Properties (SRG), Papa John's (PZZA), and DLocal (DLO). Short interest is still sky-high on SunPower (SPWR), The Children's Place (PLCE), and Maxeon Solar Technologies (MAXN).
- Earnings watch - Notable companies due to report include Box (BOX), CAVA Group (CAVA), and Bank of Nova Scotia (BNS).
- All day - The quiet period ends on Viking Holdings (VIK) to free up analysts to post ratings. Viking traded about 20% above its IPO pricing level at the time of publication.
- All day - Shareholders with Hess (HES) will vote on the acquisition offer from Chevron (CVX).
Wednesday - May 29
- Earnings watch - Notable companies due to report include Salesforce (CRM), Dick's Sporting Goods (DKS), Chewy (CHWY), HP Inc. (HPQ), Pure Storage (PSTG), Capri Holdings (CPRI) and Okta (OKTA). Options trading implies double-digit share price swings for C3.ai (AI) and Abercrombie & Fitch (ANF) after their reports.
- All day - Notable investor events include Zimmer Biomet's (ZBH) Investor Day, Toast's (TOST) Investor Day, Royal Caribbean's (RCL) annual general meeting, and an investor day for Vista Outdoor's (VSTO) Revelyst segment, which is being spun off from the company. Revelyst's portfolio brands include Foresight Sports, Bushnell Golf, Fox, Bell, Giro, CamelBak, Simms Fishing, and more.
- M&A watch - There will be some drama when Capri Holdings (CPRI) reports earnings. Although the company is not holding a conference call due to the pending Tapestry (TPR) deal, traders may be busy digesting how the earnings release changes the probability that the merger makes it to the finish line. Catalent (CTLT) shareholders will vote on the acquisition offer from Novo Nordisk (NVO).
- All day - The two-day TD Cowen Technology, Media & Telecom Conference will include participation from AMD (AMD), Seagate Technology (STX), and Clear Channel Outdoor (CCO).
- All day - Circana will release U.S. video games sales results.
- All day - Etsy (ETSY) will participate in the Evercore ISI Nothing But Net Internet Investors Summit.
- 11:00 a.m. Pershing Square Capital Management (OTCPK:PSHZF) will host an investor call. The hedge fund's top holdings include Chipotle (CMG), Hilton Worldwide (HLT), and Restaurant Brands International (QSR). There is speculation that the firm may have taken a new stake in Starbucks (SBUX).
- 2:00 p.m. The Federal Reserve will release its Beige Book report.
- 2:00 p.m. New York Federal Reserve Bank President John Williams to participate in roundtable with local leaders to hear about business conditions and municipal and community services.
Thursday - May 30
- Earnings watch - Notable companies due to report include Best Buy (BBY), Birkenstock (BIRK), Royal Bank of Canada (RY), Dollar General (DG), Foot Locker (FL), Costco (COST), Gap (GPS), Marvell (MRVL), Dell (DELL), NetApp (NTAP), and Nordstrom (JWN). Options trading implies a double-digit share price swing for Asana (ASAN) after it reports.
- All day - Notable investor events include Xylem's (XYL) Investor Day, ICON's (ICLR) Investor Day meeting, Cloudflare's (NET) Investor Day, and Axis Capital's (AXS) Investor Day.
- All day - Sanofi (SNY) is scheduled to spin off Inhibrx Biosciences (INXB) after completing the acquisition of Inhibrx (INBX). The spinoff will include all the non-INBRX-101 assets of Inhibrx into the new company. Inhibrx’s shareholders will receive 0.25 shares of Inhibrx Biosciences per Inhibrx share. Inhibrx Biosciences will be capitalized with $200 million of cash at distribution. Sanofi will retain an 8% equity stake in Inhibrx Biosciences.
- 9:00 a.m. Ford (F) will participate in the Bernstein Strategic Decisions Conference in New York City. CEO Jim Farley will discuss the company’s customer-centered Ford+ plan to grow, raise margins and increase capital efficiency while improving business durability.
- 12:05 p.m. New York Federal Reserve Bank President John Williams will speak before a hybrid Signature Luncheon event hosted by the Economic Club of New York.
Friday - May 31
- Earnings watch - Notable companies due to report include Genesco GCO) and Frontline (FRO).
- All day - The speakers at the high-profile CoinDesk Consensus event will include Presidential candidate Robert F. Kennedy Jr., ARK Invest's Cathie Wood, Galaxy Digital's (OTCPK:BRPHF) Mike Novogratz, SEC Commissioner Hester Peirce, Ripple CEO Brad Garlinghouse, and Lamina1 Co-Founder and novelist Neal Stephenson.
- All day - It is the last trading day before the 37th OPEC and non-OPEC Ministerial Meeting in Vienna. The consensus is that a rollover of existing OPEC+ voluntary cuts will be announced over the weekend.
- All day - The FDA action date arrives for a mantle cell lymphoma indication for Bristol-Myers Squibb's (BMY) gene therapy Breyanzi (lisocabtagene maraleucel) for follicular lymphoma.
- All day - The healthcare sector will have its eyes on the American Society of Clinical Oncology meeting that begins in Chicago and runs through June 4. Arcus Biosciences (RCUS) AstraZeneca (AZN), Pfizer (PFE), and Gilead Sciences (GILD) are some of the companies that analysts have circled to watch.
- 8:30 a.m. The core PCE price index report for April will be released. Economists forecast the index will rise +2.8% year-over-year. The inflation gauge is seen rising 0.3% month-over-month for April to match the pace in March and February.
- 8:30 a.m. Moderna (MRNA) will present at the Bernstein Strategic Decisions Conference.
Seeking Alpha Editor Josh Fineman contributed to this story.