Trending news | SeekingAlpha.com | August 16 2024

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Catalyst Watch: Eyes on Jackson Hole, Target earnings, and Canadian rails disruption

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 - August 19

Volatility watch - Options trading volume is elevated on Sirius XM Holdings (SIRI) and Hawaiian Holdings (HA). The most overbought stocks per their 14-day relative strength index include Lockheed (LMT), G1 Therapeutics (GTHX), and OneStream (OS). The most oversold stocks per their 14-day Relative Strength Index include Clearwater Paper (CLW), BlackRock TCP Capital (TCPC), and Seritage Growth Properties (SRG). Short interest has moved higher on Groupon (GRPN) and Dave (DAVE).

Earnings watch - Notable companies due to report include Palo Alto Networks (PANW), Estee Lauder (EL), and Fabrinet (FN).

9:40 a.m. - Eni S.p.A. (E) will have a presentation at the EnerCom Denver Conference.

All day - The two-day Rosenblatt Technology Summit on the Age of AI will begin. Speakers include representatives from Arm Holdings (ARM), Dolby Laboratories (DLB), Harmonic (HLIT), Qualcomm (QCOM), Sonos (SONO), and TeraWulf (WULF).

4:00 p.m. The U.S. crop condition report will be released. Traders have the report circled as potentially more significant than normal for corn (C_1:COM), soybean (S_1:COM), and wheat (W_1:COM) futures.

Tuesday - August 20

Earnings watch - Notable companies due to report include Lowe's Companies (LOW), Medtronic (MDT), Toll Brothers (TOL), Amer Sports (AS), XPeng (XPEV), and Coty (COTY). Options trading implies a double-digit share price swing for Workhorse Group (WKHS) after the release of its delayed earnings report.

All day - WTI crude September futures will expire. Crude oil futures have seen extra volatility over the last year on contract expiration dates.

All day - Ubisoft (OTCPK:UBSFY), Samsung (OTCPK:SSNLF), Xbox (MSFT), Take-Two Interactive (TTWO), Krafton, and SK Gaming will be some of the exhibitors at Gamescom 2024 in Cologne, Germany.

All day - The Department of Justice's timing agreement expires on the review of the planned merger between Hawaiian Holdings (HA) and Alaska Air Group (ALK).

11:00 a.m. Texas Instruments (TXN) will webcast an off-cycle capital management call. During the webcast, top executives will provide more granularity on TI's capacity investments. The discussion will also include a framework of revenue and free cash flow per share scenarios.

1:35 p.m. Atlanta Federal Reserve Bank President Raphael Bostic will participate in a fireside chat before a hybrid forum at the Federal Reserve Bank of Atlanta.

1:55 p.m. Serve Robotics (SERV) will present at the EnerCom Denver Conference. Backed by Uber (UBER) and Nvidia (NVDA), the company develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical.

2:45 p.m. Federal Reserve Vice Chair for Supervision Michael Barr will participate in a cybersecurity discussion before the Joint Financial and Banking Information Infrastructure Committee-Financial Services Sector Coordinating Council Meeting.

Wednesday - August 21

Earnings watch - Notable companies due to report include TJX Companies (TJX), Analog Devices (ADI), Target (TGT), Snowflake (SNOW), Agilent (A), and Macy's (M). Options trading implies a double-digit share price swing for Wolfspeed (WOLF) and Urban Outfitters (URBN) after their reports are released.

All day - Shareholders with Allete (ALE) will vote on the offer from the Canada Pension Plan Investment Board and Global Infrastructure Partners to acquire the energy company for $67 per share. Allete traded at $63.82 at the time of publication.

All day - O'Reilly Automotive (ORLY) will hold an Analyst Day event that will feature a presentation by the company's management team, a Q&A session, a distribution center tour, and store tours.

All day - It is the deadline for competing bids for Paramount Global (PARA).

All day - The two-day Needham Virtual Semiconductor & SemiCap 1×1 Conference will begin. Axcelis (ACLS), Veeco Instruments (VECO), and MaxLinear (MXL) are scheduled to participate. The event has led to some share price rallies after the presentations led to analyst rating and price target changes.

8:00 a.m. Target (TGT) will hold its earnings conference call. Options trading implies a share price move of 6% after the report is released. Target shed 8% on the day of its Q1 earnings release. Honest Company (HNST) and Mattel (MAT) are two major suppliers to Target that have shown strong share price correlation following the retailer's report.

9:00 a.m. The Quarterly Census of Employment and Wages report will be released. The QCEW is a comprehensive employment survey that is used to update nonfarm payrolls, and is closely watched by economists.

2:00 p.m. The minutes of the last Federal Reserve meeting will be released.

Thursday - August 22

Earnings watch - Notable companies due to report include Intuit (INTU), Toronto-Dominion Bank (TD), Workday (WDAY), Ross Stores (ROST), Peloton Interactive (PTON), and Baidu (BIDU). Options trading implies a large share price swing for CAVA Group (CAVA) and Viking Holdings (VIK) after their reports are released.

All day - It is the FDA action date for the agency's priority review of Regeneron Pharmaceuticals (REGN) Linvoseltamab to treat adult patients with relapsed/refractory multiple myeloma.

All day - Canadian National Railway Company (CNI) and Canadian Pacific Kansas City Limited (CP) are scheduled to lock out engineers and conductors as the long labor dispute reaches its climax. A strike or lockout could cause significant economic damage in Canada, which relies heavily on its railway network for its exports of grain, potash, and coal. An extended rail strike in Canada could also impact the U.S. economy.

Friday - August 23

All day - The Federal Reserve Bank of Kansas City will hold its annual Economic Policy Symposium in Jackson Hole. The key event will be a speech by Federal Reserve Bank President Jerome Powell.

All day - Liberty Media (LSXMA) (LSXMB) (LSXMK) will hold a virtual special meeting of shareholders to vote on a split-off of Liberty SiriusXM Group into a separate company, after which the new company would be combined with Sirius XM Holdings (SIRI).

10:00 a.m. The July New Home Sales report will be released.

Seeking Alpha editors Josh Fineman and Jason Aycock contributed to this story

 

Mara stock | August 16 2024

 

IBD digital stock | August 16 2024

 

SMCI stock | Volume | August 8 -- August 15

August 8, SMCI 25% drop after earnings, price from $626 to $478, 25% drop, 36.70 billion, loss is 9 billion dollars. 

Rebound took 5 business days, from August 9, 12, 13, 14, 15

Heico | HEI stock

 Heico is an aerospace and defense supplier that focuses on creating niche replacement parts for commercial aircraft and components for defense products. In commercial aerospace, Heico is the largest independent producer of replacement aircraft parts. In the defense market, the company produces niche subcomponents used in targeting technology as well as simulation equipment, among other categories. It operates as two segments: the flight support group,or FSG, and the electronic technologies group, or ETG, both of which supply the aerospace and defense sectors to different degrees. The company is persistently acquisitive, focusing on companies in similar or adjacent markets that are generating strong cash flow with the potential for growth.

SABR stock | Price action analysis | 30 m | Tradingview.com | August 1 - August 15 | What I missed

SPX and SABR 30 m analysis 

SOLV stock

 Solventum Corporation is an American health care company that was spun off from 3M on April 1, 2024. Wikipedia

Headquarters: Saint Paul, Minnesota, United States

Number of employees: 22,000 (2024)

Revenue: 8.2 billion USD (2023)

Barron's | Hedge fund | Nike Is In, Tech Stocks Are Out. What These Big Investors Are Buying and Selling. | NKE stock

Here is the article. 

Hedge funds and other big investment fund managers shifted out of the Magnificent Seven tech stocks in the second quarter and took on new stakes in a variety of stocks in the healthcare and consumer sectors.

For example, activist investor Nelson Peltz didn’t exit his stake in Walt Disney 

DIS

0.82%

 entirely, but it was substantially lower compared with the first quarter after he lost his proxy battle at the entertainment company.

Peltz’s Trian Fund Management took on new stakes in Solventum

Paul Singer’s Elliott Investment Management reported a new 6 million-share stake in Southwest Airlines as of June 30. The fund this week started a proxy battle at the carrier, with plans to nominate a slate of directors to largely replace the board.

And Pershing Square Capital’s Bill Ackman, who recently withdrew a planned initial public offering of a $2 billion closed-end fund, reported new stakes in apparel maker Nike 

NKE

0.03%

 and investment management firm Brookfield Corp.

The regulatory filings reflect investment manager holdings as of the end of June, and portfolios may have shifted since then.

Trian Fund Management

Peltz’s Trian Fund Management reported 2.65 million shares of Disney as of June 30, down from 32 million in March. It reported a new 5.36 million share stake in Solventum and a nearly 1.3 million-share stake in U-Haul in two different share classes.

Trian reported no stake in food services company Sysco, compared with 1.2 million shares in March.

Elliott Investment Management

Paul Singer’s Elliott Investment Management snapped up nearly 8 million shares of the dating platform Match, doubled its stake in craft marketplace Etsy to 4.5 million shares, and bought about 500,000 more shares of communications firm Liberty Broadband to bring its total to just under 2.2 million.

Soros Capital 

Soros Capital, the family office for billionaire George Soros, made a cryptocurrency play in the second quarter, taking on new stakes in Bitcoin mining-related companies.

Soros reported a new 2.3 million-share position in Bitcoin mining firm Terawulf and a new 1.5 million-share stake in Core Scientific, another Bitcoin miner. It took a new 1.3 million share stake in Iris Energy, a Bitcoin miner that operates data centers using renewable energy.

Soros took a smaller new 32,000 share stake in Portillo’s, a fast casual restaurant chain that specializes in Chicago-style hot dogs and the Italian beef sandwiches popularized in the Hulu series The Bear.

On the flip side, Soros cut or eliminated stakes in most of the Magnificent Seven stocks. It reported no holdings of Nvidia 

NVDA

1.67%

, Advanced Micro Devices, and Microsoft and smaller holdings in Amazon 

AMZN

-0.08%

, Meta Platforms, and Netflix compared with the first quarter. It also reported no holdings of Ozempic and Wegovy maker Novo Nordisk as of June 30, compared with a 77,000-share stake in March.

Pershing Group 

Bill Ackman’s Pershing Square Capital snapped up a new 7 million-share stake in Brookfield Corp.and 3 million shares of Nike. Pershing reported smaller holdings of Chipotle Mexican Grill, Alphabet, and Hilton Worldwide compared with its first quarter filing. It reported $10.4 billion of assets.

Baupost

Seth Klarman’s Baupost Group reduced its holdings of Alphabet by more than 60%, leaving it with just under 3 million shares. It also shed some 2 million shares of fintech firm Fidelity National Information Services and more than 3 million shares of Liberty Media’s SiriusXM Group.

Baupost’s biggest new stake reported among its $3.6 billion in holdings was 420,000 shares of healthcare company Humana. It also picked up 1  million shares of Capri Holdings, the fashion group that owns Versace, Jimmy Choo and Michael Kors, and 1.8 million shares of healthcare company Solventum.

Starboard

Activist investment firm Starboard Value, which is run by Jeff Smith and reported $4.3 billion in assets, nearly halved its shares of healthcare company Humana to 507,000 from 906,000 in the prior quarter.

It also slashed its holdings in GoDaddy by nearly 2 million to 4.6 million. Its biggest purchase was 2.7 million shares of clinical research firm Fortrea to a total of 8 million shares.

Third Point

Dan Loeb’s Third Point disclosed several new stakes in the second quarter, including 1.95 million shares of Apple 

AAPL

0.20%

 and 2.8 million shares in communications firm Amphenol. Third Point maintained its 5.1 million-share stake in Amazon.

Greenlight Capital

With $2 billion under management, David Einhorn’s Greenlight Capital reported a new stake in Peloton of 6.8 million shares. It also upped its shares of pharmaceutical firm Viatris by 2.9 million shares to 7.4 million and doubled down its stake in HP Inc to 3.37 million shares.

It also reported new investments in fashion firm Capri Holdings and media conglomerate IAC of 700,000 and 300,000 shares, respectively.

It reported no position in clean energy firm Net Power, compared with 2 million shares in March. It also reported no holdings in Johnson & Johnson spinoff Kenvue, which sells Aveeno, Band-Air, Tylenol, and other consumer health brands. It held 710,000 Kenvue shares in March.

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