Stocks to watch: Eyes on Apple, Nio, Shopify, DocuSign and Hasbro

0

Get a head start on the market by subscribing to Seeking Alpha’s Stocks to Watch, a preview of key events scheduled for the week ahead. The newsletter keeps you informed of the biggest stories that will make headlines, including upcoming IPOs, investor days, earnings reports and conference presentations.

Stocks to Watch subscribers can also tune in on Sundays for a curated podcast available on Seeking Alpha, Apple Podcasts, Stitcher and Spotify.

Investors will be talking inflation again next week with the latest reading on consumer prices due out on June 10. Economists forecast headline inflation to be 8.2% year-on-year for May from 8.3% in April and will see core CPI after removing food and energy costs fall to 5, 9% versus 6.2%. Some analysts are keeping open the possibility of a relief rally if there is no upside CPI surprise. “Investors are in a more constructive situation, and this may continue if the CPI is near consensus or better,” noted Art Hogan, chief strategist at National Securities. Notable companies due to report earnings next week include Campbell Soup (CPB), Nio (NYSE: NIO) and DocuSign (DOCU). AMD organizes events for investors (NASDAQ: AMD), Wendy’s (WEN) and MongoDB (NASDAQ: MDB). In the tech sector, Apple’s Developer Conference (AAPL) will take center stage, and Facebook’s parent company Meta Platforms (FB) will change its META ticker to better reflect its new focus.


Earnings Spotlight: Monday, June 6 – Coupa software (COUP).

Earnings Spotlight: Tuesday, June 7 – United Natural Foods (UNFI), JM Smucker (SJM), Academy Sports + Outdoors (ASO), Dave & Buster’s Entertainment (PLAY) and Guidewire Software (GWRE).

Earnings Spotlight: Wednesday, June 8 – Thor Industries (THO), Campbell Soup (CPB), Bausch + Lomb Corporation (BLCO) and Five Below (FIVE).

Earnings Spotlight: Thursday, June 9 – Nio (NIO), Signet Jewelers (SIG), DocuSign (DOCUMENT), Rent the track (LEASE) and Point Correction (SFIX).

IPO monitoring: No new IPO is expected to start trading. Quiet periods end in Hannover (NASDAQ:HNVR) on June 6 and ProFrac (PFHC) on June 7 to release analysts to release ratings. The lock-up period for the IPO of a block of Chicago Atlantic shares (NASDAQ: REFI), Cingulate (CING) and HashiCorp (HCP) also expire during the week.

Dividend monitoring: It’s a light week of anticipated dividend increases with the end of earnings season. Dividend payout increases are expected from UnitedHealth (UNH) to $1.65 from $1.45, Caterpillar (CAT) to $1.20 from $1.11, Essential Properties () to 0, $27 from $0.26 and Clorox (NYSE: CLX) to $1.20 instead of $1.16. Credit Suisse released an intriguing list of its favorite dividend aristocrats this week for investors to chew on. The company’s list of outperforming rated US stocks that offer investors healthy dividend yields backed by a history of growing dividends per share include IBM (IBM), Chevron (CVX), Coca-Cola (KO), Emerson Electric (EMR ), Stanley Black Decker (SWK), Nextera Energy (NEE), Colgate-Palmolive (CL), Sysco (SYY), McDonald’s (MCD) and Caterpillar (CAT).

Corporate events: Pear Therapeutics (PEAR) will host the first Investor Day event in its history on June 6. Hyzon Motors (NASDAQ: HYZN) will host an Investor Day event on June 7 that will include a strategy update and facility tour in Groningen, the Netherlands. MongoDB World 2022 is also scheduled for June 7 with keynote presentations from key MongoDB (MDB) executives. Spotify Technology SA (SPOT) will host an Investor Day event on June 8 to highlight the company’s current track record and future growth opportunities. Investor days are scheduled for June 9 for AMD (AMD), Verint Systems (NASDAQ: VRNT), Wendy’s (WEN), PPL Corporation (PPL), Nutrien (NTR) and DigitalOcean Holdings (DOCN). Spirit Airlines (SAVE) shareholders will vote on the proposed merger with Frontier Group (ULCC) on June 10. Learn more about next week’s events that could impact stock prices in Seeking Alpha’s Catalyst Watch.

Conference schedule: The conference schedule is heating up with the end of the earnings season. Nareit’s 2022 REITweek Investor Conference May Headline with STORE Capital (NYSE: STOR), Macerich (MAC), Public Storage (PSA) and Tanger Factory Outlet Centers (SKT), with some of the notables set to appear virtually. Also watch for upcoming strategy and direction updates from the Goldman Sachs Travel and Leisure Conference, William Blair Growth Stock Conference, Baird Global Consumer, Technology and Services Conference, KBW US Regional Banking Growth Conference , Goldman Sachs Global Semiconductor Virtual Conference, Needham Virtual Automotive Technology Conference, Bank of America 2022 Global Technology Conference, Stifel 2022 Cross Sector Insight Conference and Jefferies Healthcare Conference.

Toy story: Hasbro (NASDAQ:A) will hold its annual meeting on June 8. Activist investor Alta Fox is pushing Hasbro to sell a profitable division and wants representation on the board. The company also criticized the way the company allocates its capital. Proxy firm ISS recommended that shareholders withhold votes from Ted Philip, who served on Hasbro’s board for 20 years, while Glass Lewis endorsed all of Hasbro’s board nominees. Ahead of the meeting, Hasbro said capital allocation, including strategic investments and returning excess cash to shareholders, is a priority as the company also remains on a path of growth and debt repayment. Shares of Hasbro (HAS) are down 12% year-to-date.

Apple WWDC preview: Apple (AAPL) will hold its Worldwide Developers Conference in hopes of iOS/iPad OS, macOS, tvOS and watchOS updates, and other software reveals. Ahead of WWDC, the company unveiled an update to the open-source programming language Swift. Analysts believe there is a chance of a “one more thing” material surprise, as well as a potential announcement of an NFL Sunday Ticket contract win. Looking ahead, Wedbush Securities analyst Dan Ives believes the tech giant is gearing up to bid on a number of upcoming sports packages in addition to the NFL that are up for renewal in coming years. Also very interesting, Morgan Stanley said it was possible for Apple to tease its entry into the mixed reality headset market. What does WWDC mean for Apple stocks? Over the past 10 years, Apple has underperformed the S&P 500 by a median of 100 basis points in the week following the event, but outperformed the S&P by 70 basis points in the month following the event.

Stock split: The four-for-one stock split for DexCom (DXCM) will go into effect on June 10. The stock split will increase the number of authorized common shares from 200,000,000 to 800,000,000.

Annual meetings: Companies with annual meetings scheduled for next week include Shopify (NYSE: SHOP), Penn National Gaming (PENN), eBay (EBAY), Target (TGT), TJX Companies (TJX), CarGurus (CARG), Best Buy (BBY), and Urban Outfitters (URBN). Shopify (SHOP) shareholders will vote on a proposal to provide CEO Tobias Lütke with additional voting rights to preserve his voting power. Meanwhile, Hasbro (HAS) is fighting an activist investor in a board battle.

Box office overview: World Paramount (NASDAQ: PARA) Top Gun: Maverick is expected to gross up to $60 million at the box office in its second weekend. The film still has a weekend of limited competition before Universal’s Jurassic World Dominion (CMCSA) opens on June 10.

Mentions of Barron: The cover story looks at the US marriage boom and whether it’s an indicator that the US fertility rate has bottomed out after a 12-year decline. Some of the stocks mentioned as potential beneficiaries of the increase in the number of new couples are AvalonBay Communities (AVB), Equity Residential (EQR) and Target (TGT). Eaton (ETN) is also singled out this week by the publication as a stock that could jump 30% as the company takes advantage of soaring demand for its products in the electrical segment. The shift to electric vehicles appears to be keeping demand buoyant for an extended period. It is noted that Eaton shares now trade at 17.5 times forward earnings, which is in line with the broader market but marks a discount to rivals such as Quanta Services (PWR) and ABB (ABB).

Sources: EDGAR, Bloomberg, CNBC, Reuters, Renaissance Capital

Share.

Comments are closed.