Wall Street will see some relief next week as the economic calendar and first-quarter earnings season clear up somewhat. Market participants will eagerly await the Federal Reserve’s top credit policy opinion survey, conducted Monday, to assess credit conditions in the economy. Also in focus will be Friday’s preliminary consumer sentiment data from the University of Michigan for May.
Many large companies, including members of the “Magnificent 7,” have already reported their results. Yet next week will see some notable names on show, including theme park and entertainment giant Disney (SAY), meat processor Tyson Foods (TSN), and the giant Uber (UBER).
Meanwhile, Apple (AAPL). The tech major is expected to hold a special event on Tuesday to showcase new iPad hardware products and accessories.
Spotlight on results: Monday May 6 – Tyson Foods (TSN), Vertex Pharmaceuticals (VRTX), Palantir (PLTR) and real estate income (O). See the full earnings schedule.
Spotlight on results: Tuesday, May 7 -Disney (SAY), McKesson (MCK), Ferrari (RACE), GlobalFoundries (GFS), Coupang (CPNG), Electronic Arts (EA), Rivian Automobile (RIVN), and Datadog (DDOG). See the full earnings schedule.
Spotlight on results: Wednesday, May 8 -Uber Technologies (UBER), Anheuser-Busch InBev (BUD), Airbnb (ABNB), Shopify (SHOP), Arm (ARM), Energy transfer (AND), Bureau of Exchange (TTD), Beyond meat (PARND), Affirm (AFRM) and AMC Entertainment (AMC). See the full earnings schedule.
Spotlight on results: Thursday, May 9 -Discovery of Warner Bros. (WBD), American Foods (USFD), Hyatt Hotels (H), Roblox (RBLX), Drop box (DBX), and Genpact (g). See the full earnings schedule.
Spotlight on results: Friday May 10 – AMC Networks (AMCX) and Enbridge (IN B). See the full earnings schedule.
Volatility monitoring: Options trading volume is high again on Trump Media & Technology (DJT). Short interest has increased again over the past week in Luminar Technologies (LAZR) and Zynex (ZYXI). The most overbought stocks based on their 14-day relative strength index include Vivos (OTCQB:RDGL), Deciphera Pharmaceuticals (DCPH), and Macatawa Bank (MCBC). The most oversold stocks based on their 14-day relative strength index include Cabaletta Bio (CABA), Kopin (KOPN) and Kinsale Capital (KNSL).
IPO Monitoring: The coming week is relatively light in terms of market introductions, with the largest slated for $229.3 million by specialty freight company Proficient Auto Logistics (BOYFRIEND). The Jacksonville, Fla.-based company plans to sell 14.3 million shares at an expected IPO price of between $14/share and $16/share. The Company provides automotive transportation and logistics services, primarily focused on moving finished vehicles from automotive production facilities, marine ports of entry or regional rail yards to automobile dealerships. The Silvaco group (SVCO) A $114 million IPO is also expected next week. Silvaco (SVCO) is a provider of computer-aided design software, electronic design automation software and semiconductor intellectual property. Elsewhere, IPO hold periods are expiring for Cargo Therapeutics’ stock blocks (CRGX) and Hamilton Insurance (H.G.).
Investor events: Notable speakers at the Milken Institute’s four-day global conference include Pershing Square’s Bill Ackman, Tesla (TSLA) Elon Musk and SEC Commissioner Mark Uyeda. Federal Reserve Bank of New York President John Williams will also participate in a conversation at the event. IBM (IBM) Red Hat subsidiary will hold its annual summit in Denver, Colorado, May 6-9. The five-day meeting of the American Society of Gene & Cell Therapy will begin in Baltimore, Maryland. Analysts have identified Azitra (AZTR), Therapeutic Destiny (FATE), CRISPR therapeutics (CRSP), Editas Medicine (TO MODIFY) and Regeneron Pharmaceuticals (REGN) as well as some of the companies to monitor drug data or new summaries that may impact stock prices.
