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Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Seeking Alpha's earnings calendar for a full list of companies due to report.
Monday - June 24
- Volatility watch - Options trading volume has moved higher on Barnes & Noble Education (BNED). The most overbought stocks per their 14-day relative strength index include Insmed (INSM), WalkMe (WKME), and DIH Holdings (DHAI). The most oversold stocks per their 14-day Relative Strength Index include Dlocal (DLO), Zentalis (ZNTL), and Seritage Growth Properties (SRG). Short interest is still sky-high on Phathom Pharmaceuticals (PHAT) and Cutera (CUTR) heading into next week's action.
- IPO watch - South Korean media company Webtoon Entertainment (WBTN), Australian natural gas E&P player Tamboran Resources, biopharma firm OS Therapies (OSTX), and Permian-focused LandBridge (LB) are expected to start trading during the week. Interestingly, LandBridge (LB) said it is pursuing crypto mining and data center businesses due to its access to water, roads, fiber optic infrastructure, and power as an oil field buyer.
- Earnings watch - Notable companies due to report include Beyond Air (XAIR).
- All day - The three-day Marine Money Week conference will begin. Companies with executives appearing on panel discussions include Pangaea Logistics (PANL), Frontline (FRO), Ardmore Shipping Corporation (ASC), Genco Shipping & Trading (GNK), KNOT Offshore Partners LP (KNOP), Navigator Holdings (NVGS), International Seaways (INSW), Navios Maritime Partners (NMM), and EuroDry (EDRY).
- 1:00 p.m. Philadelphia Federal Reserve Bank President Patrick Harker will speak on the economic outlook before the Global Interdependence Center 42nd Annual Monetary and Trade Conference.
Tuesday - June 25
- Earnings watch - Notable companies due to report include Baker Hughes (BKR), Carnival (CCL) and FedEx (FDX).
- M&A votes - Shareholders with Apartment Income REIT (AIRC) will vote on the buyout offer from Blackstone (BX). Shareholders with Model N (MODN) will vote on the buyout offer from Vista Equity Partners.
- All day - Notable investor events include Trinity Industries' (TRN) Investor Day, Arthur J. Gallagher's (AJG) Investor Meeting, and the second edition of Cellectis' (CLLS) Pasteur Innov' Day at Institut Pasteur, Paris.
- All day - Datadog (DDOG) will hold its annual Dash event in New York City. Bank of America has the event circled as a catalyst due to new product announcements and integrations that could further entrench Datadog (DDOG) into the AI theme.
- All day - Representatives from Crocs (CROX), PVH (PVH), On Holding (ONON), Deckers Outdoor (DECK), and Golden Goose will speak at the Footwear News Summit in New York City.
- All day - The National Transportation Safety Board will hold its final board meeting on the Norfolk Southern (NSC) 2023 train derailment and subsequent hazardous material release. Five NTSB Members will hear presentations from investigators, deliberate over the draft report, and vote on the proposed findings, probable cause and safety recommendations.
- 12:00 p.m. Federal Reserve Board Governor Lisa Cook will speak before an Economic Club of New York luncheon.
- 2:15 p.m. Federal Reserve Board Governor Michelle Bowman will give a keynote address at the hybrid Midwest Cyber Workshop hosted by the Federal Reserve Banks of St. Louis, Chicago and Kansas City.
- 5:00 p.m. FedEx (FDX) will hold its FQ4 earnings conference call. The stocks with the highest trading correlation with FedEx (FDX) on its earnings day are United Parcel Service (UPS), Expeditors International (EXPD), and Landstar System (LSTR).
Wednesday - June 26
- Earnings watch - Notable companies due to report include General Mills (GIS), Paychex (PAYX), Levi Strauss (LEVI), Micron (MU), and AeroVironment (AVAV). Options trading implies a double-digit swing for shares of BlackBerry (BB) after the report drops.
- All day - Grail will begin trading under the stock symbol GRAL after the spinoff from Illumina (ILMN). Each Illumina shareholder will receive one share of Grail common stock for every six shares of ILMN common stock held. Illumina will retain 14.5% of the outstanding shares of GRAIL common stock.
- All day - China Mobile Chairman Yang Jie, China Telecom (OTCPK:CHJHF) Chairman Ke Ruiwen, and Qualcomm (QCOM) CFO Akash Palkhiwala will be some of the notable speakers at the MWC Shanghai Conference.
- All day - Chipotle (CMG) begins trading on a split-adjusted basis following the 50-for-1 stock split.
- All day - Notable investor events include TransDigm Group's (TDG) Investor Day.
- All day - The Nasdaq will release the latest short interest positions for highly watched stocks such as GameStop (GME), AMC Entertainment (AMC), C3.ai (AI), and Lucid Group (LCID).
- 9:00 a.m. Lowe's Companies, Inc. (LOW) CEO Marvin Ellison and CFO Brandon Sink will participate in a virtual fireside chat hosted by Oppenheimer.
Thursday - June 27
- Earnings watch - Notable companies due to report include Nike (NKE), McCormick (MKC), Walgreens Boots Alliance (WBA), and Acuity Brands (AYI). Options trading implies a double-digit swing for shares of American Outdoor Brands (AOUT) after the report drops.
- All day - Notable investor events include AeroVironment's (AVAV) Investor Day. Management is anticipated to provide an overview of the company’s portfolio and examine long-term goals and overall business health.
- 4:15 p.m. Nike (NKE) will hold its earnings conference call. Options trading implies a 7% move for the stock after the earnings update drops. Nike (NKE) fell 6.9% after its last earnings report. The three stocks that have correlated the tightest with Nike (NKE) on earnings day over the last year are Under Armour (UAA), Dick's Sporting Goods (DKS), and Lululemon (LULU). Starbucks (SBUX) has also seen minor share price moves in the past based off Nike's (NKE) update on the business climate in China.
Friday - June 28
- 8:30 a.m. The core PCE price index report for May will be released. Economists forecast the index will rise +2.6% year-over-year to fall from the +2.8% pace recorded in February, March, and April. The inflation gauge is seen rising 0.3% month-over-month for May.
- All day - Circana will release U.S. video game sales results.
- All day - It is the last trading day before an FDA decision on Rocket Pharmaceuticals' (RCKT) RP-L201 marnetegragene autotemcel treatment.
- All day - It is the five-year anniversary of The RealReal (REAL) IPO.
- Postmarket - The reconstitution of the Russell indexes is final after the market close.
Seeking Alpha Editor Josh Fineman contributed to this story.