Wall Street Breakfast: The Week Ahead
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Investors head into next week with the debt ceiling crisis resolved for the near term, but will need to stay sharp with the May jobs report resetting expectations on what the game plan is for the Federal Reserve as the FOMC meeting on June 13-14 approaches. Seeking Alpha Investing Group Leader Lawrence Fuller said the headline jobs number may look strong, but the details in the report actually show a significant softening.
The week will start with some potential ripples in the energy market in the wake of the June 4-5 OPEC meeting. The calendar is light for major economic releases, with updates on factory orders, consumer credit and initial jobless claims likely to be the most notable data points.
Earnings spotlight: Monday, June 5 - GitLab (GTLB) and Science Applications (SAIC).
Earnings spotlight: Tuesday, June 6 - Ferguson (FERG), J. M. Smucker (SJM), Casey's General Stores (CASY), and Stitch Fix (SFIX).
Earnings spotlight: Wednesday, June 7 - Brown-Forman (BF.A), GameStop (GME), Campbell Soup (CPB), and HashiCorp (HCP).
Earnings spotlight: Thursday, June 8 - DocuSign (DOCU), Vail Resorts (MTN), and Signet Jewelers (SIG).
Earnings spotlight: Friday, June 9 - NIO (NIO).
Volatility watch: Options trading volume is elevated in general on Akebia Therapeutics (AKBA), Icahn Enterprises (IEP), and Nikola (NKLA).
Quant ratings: Stocks with recent quant rating changes include Vipshop Holdings (VIPS) to Strong Buy from Hold, Box (BOX) to Buy from Hold, and SunOpta (STKL) to Sell from Hold. See the stocks with the very highest rated Seeking Alpha Quant Ratings.
Dividend watch: Companies forecast to boost their quarterly payouts include UnitedHealth Group (UNH) to $1.85 from $1.65, Caterpillar (CAT) to $1.26 from $1.20, and Ralph Lauren (RL) to $0.775 from $0.75. See Seeking Alpha's list of Quick Dividend Stock Picks.
American Society of Clinical Oncology conference: One of the biggest healthcare conferences of the year will run during the week with the American Society of Clinical Oncology taking place in Chicago. Some of the companies being closely watched for ASCO-related developments include AstraZeneca (AZN), Novartis (NVS), Eli Lilly (LLY), ImmunoGen (IMGN), Gilead (GILD), Regeneron (REGN), Seagen (SGEN), Bristol-Myers Squibb (BMY), and Merck (MRK).
Corporate events: Cisco (CSCO) will hold its five-day Cisco Live! IT event in Las Vegas. CEO Chuck Robbins will be one of the key speakers. StepStone Group (NASDAQ:STEP) will host an Investor Day in New York City on June 6 with presentations on the company's progress, strategy, and outlook. Toronto-Dominion Bank (NYSE:TD) and DLocal (NASDAQ:DLO) will hold Investor Day events on June 8 with updates on strategy and growth plans. See a detailed list of key events for next week in Seeking Alpha's Catalyst Watch.
Investor conferences: The three-day NAREIT REITWeek will begin amid heightened interest on the current status of commercial real estate. Some of the companies due to participate include Alpine Income Property Trust (PINE), National Storage Affiliates Trust (NSA), Crown Castle (CCI), Postal Realty Trust (PSTL), and Rayonier (RYN).
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