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Stocks To Watch: Prime Day And FAANGs Out In DC – jj

Stocks To Watch: Prime Day And FAANGs Out In DC


Welcome to Seeking Alpha’s Stocks to Watch – a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. A podcast of Stocks to Watch is also available on Sundays on Seeking Alpha, iTunes, Stitcher and Spotify.

Amazon’s (NASDAQ:AMZN) annual Prime Day event will dominate headlines as it runs from July 15-16. The summer shopping holiday continues to grow with Target’s (NYSE:TGT) Deal Days, eBay’s (NASDAQ:EBAY) flash sale and Nordstrom’s (NYSE:JWN) anniversary sale running concurrently, along with a ramping up of deals from other retailers like Walmart (NYSE:WMT), Macy’s (NYSE:M), Gap (NYSE:GPS), Best Buy (NYSE:BBY) and even what’s left of Sears (OTCPK:SHLDQ) has a three-day Midsummer Madness sale. The economic calendar in the week ahead includes retail sales on July 16, housing starts on July 17 and Philly Fed Index on July 19. Q2 earnings reports will also be blazing in from major banks all week, while the tech sector has a huge Microsoft event and some Congressional scrutiny to factor in.

Notable earnings reports: Charles Schwab (NYSE:SCHW) and Citigroup (NYSE:C) on July 15; Johnson & Johnson (NYSE:JNJ), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Domino’s Pizza (NYSE:DPZ), Wells Fargo (NYSE:WFC) and United Airlines (NASDAQ:UAL) on July 16; IBM (NYSE:IBM), Netflix (NASDAQ:NFLX), Abbott Laboratories (NYSE:ABT), Bank of America (NYSE:BAC), eBay (EBAY), U.S. Bancorp (NYSE:USB) and PNC Financial (NYSE:PNC) on July 17; Microsoft (NASDAQ:MSFT), Philip Morris International (NYSE:PM), UnitedHealth (NYSE:UNH), Chewy (NYSE:CHWY), SunTrust (NYSE:STI) and Morgan Stanley (NYSE:MS) on July 18; American Express (NYSE:AXP), Kansas City Southern (NYSE:KSU), BlackRock (NYSE:BLK) and State Street (NYSE:STT) on July 19. See Seeking Alpha’s Earnings Calendar for the complete list of earnings reporters.

IPO watch: A busy week is set up for the IPO market with DouYu International (DOYU) pricing on July 17 and Genmab (OTCPK:GMXAY), Assetmark Financial (AMK) Phreesia (PHR), Fulcrum Therapeutics (FULC) and Mirum Pharmaceuticals (MIRM) on July 18. Medallia (MDLA) and Afya (AFYA) are also due to price on July 19. Quiet period expirations arrive on Stoke Therapeutics (NASDAQ:STOK), Grocery Outlet (NASDAQ:GO), Personalis (NASDAQ:PSNL), Akero Therapeutics (NASDAQ:AKRO), Atreca (NASDAQ:BCEL) and Prevail Therapeutics (NASDAQ:PRVL) on July 15. Expect to hear some discussion about Anheuser-Busch InBev (NYSE:BUD) on the likelihood of the beer giant refiling the Budweiser Brewing Company (BUDBC) IPO if market conditions in Hong Kong improve or if the company will move forward with its heavy debt load.

Projected dividend changes (quarterly): Bank of New York Mellon (NYSE:BK) to $0.31 from $0.28, Citigroup (C) to $0.51 from $0.45, Citizens Financial (NYSE:CFG) to $0.36 from $0.32, Goldman Sachs (GS) to $1.25 from $0.85, Hartford Financial (NYSE:HIG) to $0.32 from $0.30, Morgan Stanley (MS) to $0.35 from $0.30, Northern Trust (NASDAQ:NTRS) to $0.70 from $0.60, PPG Industries (NYSE:PPG) to $0.52 from $0.48, J.M. Smucker (NYSE:SJM) to $0.90 from $0.85, State Street (STT) to $0.52 from $0.47, Stanley Black & Decker (NYSE:SWK) to $0.70 from $0.66, Skyworks (NASDAQ:SWKS) to $0.42 from $0.38, Molson Coors (NYSE:TAP) to $0.42 from $0.41, Healthcare Services (NASDAQ:HCSG) to $0.1988 from $0.1975, Hope Bancorp (NASDAQ:HOPE) to $0.15 from $0.14, National Retail (NYSE:NNN) to $0.52 from $0.50, Aqua America (NYSE:WTR) to $0.238 from $0.219.

Tech heavyweights in DC: Execs from Apple (NASDAQ:AAPL), Amazon (AMZN), Facebook (NASDAQ:FB) and Google (NASDAQ:GOOG) will be called to testify at a House Judiciary Committee antitrust hearing scheduled for July 16-17. Facebook’s David Marcus is also due to appear at a Senate Banking Committee hearing to discuss the planned launch of the company’s Libra cryptocurrency. The Congressional subcommittee will examine the impact of market power of online platforms on innovation and entrepreneurship. The hearing coincides with recent reports that the FTC and DOJ are looking into large tech companies to potentially build an antitrust case. Wedbush says that while the hearings and potential DOJ probes can represent an overhang and risk to the FAANG group, investors should focus on the fundamentals in the near-term as any probe would take years to complete as the sector witnessed firsthand when the Microsoft probe ultimately proved to be more noise than a structural jolt to the business model.

M&A tidbits: Aratana Therapeutics (NASDAQ:PETX) shareholders will vote on the Elanco Animal Health (NYSE:ELAN) merger on July 16. A court hearing on the CVS Health (NYSE:CVS)-Aetna (NYSE:AET) merger is scheduled for July 17. U.S. District Richard Leon is expected to rule on the deal shortly after hearing the oral arguments.

Inspiring stuff: Microsoft’s (MSFT) Inspire event in Las Vegas from July 14-18 aims to showcase the company’s near-term future and priorities. The company is also expected to talk up its long-term competitive advantages in the partner program. Updates on Microsoft’s cloud platform and licensing changes are also anticipated. CEO Satya Nadella is due to give a talk at Inspire.

Comic Con: Comic-Con International: San Diego kicks off on July 17 with a preview night. Major studios will talk up upcoming films and the direction of popular franchises like Batman, Star Trek, the Terminator and a whole slew of Marvel properties. Media companies that could break some news during the week include Disney (NYSE:DIS), Netflix (NFLX), CBS (NYSE:CBS) and Viacom (NASDAQ:VIA) and HBO (NYSE:T). On the consumer product side, Funko (NASDAQ:FNKO) is looking to make a splash at Comic Con.

FDA watch: PDUFA dates arrive on Biohaven Pharmaceutical (NYSE:BHVN) for it Nurtec treatment, Merck’s (NYSE:MRK) relebactam NDA and Celgene (NASDAQ:CELG) for its Otezla sNDA.

Containerboard pricing: The sensitive containerboard/packaging sector will see new shipment and pricing information released next week. Watch for volatility from Westrock (NYSE:WRK), Cascades (OTCPK:CADNF), International Paper (NYSE:IP), Packaging Corp of America (NYSE:PKG), Graphic Packaging (NYSE:GPK) and Domtar (NYSE:UFS).

Business updates: Rio Into (NYSE:RIO) will post its quarterly operations review from Sydney on July 16. RGS Energy (OTC:RGSE) plans update specifically on its Powerhouse solar shingles business on July 16. Caterpillar (NYSE:CAT) is also due out with its monthly sales report.

A.I. on display: Elon Musk’s Neuralink has scheduled an event on July 16 to spill what it’s been working on. Neuralink is believed to be working on brain implants to treat cognitive impairments and neurological diseases. It’s an area that could see Neuralink bump up against Facebook (FB) and its brain-computer interfacing out of the mysterious Building 8.

PA gaming: The Hollywood Casino and Parx Casino go online on July 15. International Gaming Technology (NYSE:IGT) and Penn National Gaming (NASDAQ:PENN) are partnering on the Hollywood Casino, while Parx is owned and operated by Greenwood Gaming and Entertainment. The Stars Group (NASDAQ:TSG) is likely to arrive to the Pennsylvania online scene with PokerStars before too long.

Box office: The U.S. box office is expected to have a slow weekend ahead of the opening of The Lion King at the end of next week. Holdovers Spider-Man: Far From Home and Disney’s (DIS) Toy Story 4 are forecast to lead the way, with hauls of $45M and $22M, respectively.

Barron’s mentions: Expedia (NASDAQ:EXPE) is called out as attractive with shares trading below their normal valuation compared to earnings expectations. Nvidia’s (NASDAQ:NVDA) is seen as having a very wide moat after investing $13B in R&D to develop a software system called CUDA. Hillenbrand’s (NYSE:HI) deal to acquire Milacron Holdings (NYSE:MCRN) is broken down in detail, While the combined company, will have a lot of debt, the benefit of double-digit accretion EPS and higher profit margins can’t be ignored. The publication’s roundtable of experts serve up Eli Lilly (NYSE:LLY), Morgan Stanley (MS) and Kemet (NYSE:KEM) as stocks with enticing value. An interview with Kleiner Perkins yields SpinLaunch (space catapult), Livongo (digital health), Figma (software) and Desktop Metal (metal printing) as potential future unicorns. Finally, the collapse of Deutsche Bank (NYSE:DB) is seen giving Evercore (NYSE:EVR), Jefferies (NYSE:JEF), Piper Jaffray (NYSE:PJC), PJT Partners (NYSE:PJT) and Lazard (NYSE:LAZ) a crack at new business.

Sources: CNBC, Nasdaq, EDGAR, Recode, Bloomberg

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