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The coming week will mark the start of the first quarter earnings season, with major banks such as JPMorgan Chase (JMP), Goldman Sachs (NYSE: GS) and Wells Fargo (NYSE: WFC) heading towards the revenue confessional. The air sector will also be closely watched, with Delta Air Lines (NYSE: DAL) due to Q2-Q3 revenue report and booking trend update. Federal Reserve speakers will also make the circuit as investors continue to watch the pace of rate hikes, while the economic calendar is headlined by the highly anticipated Consumer Price Index report on April 12. . The CPI is expected to show inflation up 1.1% in March on a month-to-month comparison and 8.4% from a year ago. This is an acceleration compared to the rate observed in February. Updates on producer prices, retail sales and consumer sentiment are also due next week. In the tech sector, a Q&A session next week on Twitter (NYSE: TWTR) with employees and the new director of the board of directors Elon Musk could create jolts.
Earnings Spotlight: Tuesday, April 12 Albertson (ACI) and CarMax (KMX).
Earnings Spotlight: Wednesday, April 13 Bed, Bath & Beyond (BBBY), BlackRock (BLK), Delta Air Lines (DAL) and JPMorgan (NYSE:JPM).
Earnings Spotlight: Thursday, April 14 Ally Financial (ALLY), Citigroup (C), Goldman Sachs (GS), Rite Aid (RAD), Morgan Stanley (MS), PNC Financial (PNC) and Wells Fargo (WFC).
IPO monitoring: Excelerate Energy (EE) is expected to start trading next week. Meanwhile, the quiet period ends April 11 for Akanda (A.K.A.), which will allow analysts to publish ratings. Investors should also keep an eye out for IPO blocking expiries during the week on Healthcare Triangle (HCTI), Gitlab (GTLB), IHS Holding (IHS), Clear Diagnoses (LUCD) and MiNK (INK). All of these stocks are currently trading below their IPO price levels.
AACR meeting: The annual meeting of the American Association for Cancer Research will continue, with trial data expected from a large number of companies, including Vaccinex (VCNX), Bicyle Therapeutics (BCYC), Repare Therapeutics (RPTX), AIM ImmunoTech (AIM and LLY. Bank of America identified C4 Therapeutics (CCCC) as a potential share price driver outside the data release, while Wells Fargo identified Affimed (AFMD), Gracell Biotechnologies (GRCL) and IMV Inc. (IMV) as the companies with key updates.
Corporate events: Ambev (ABEV) will host an Investor Day event in Sao Paulo, Brazil on April 11-12. Enerplus Corp. (ERF) will host an investor webcast on the Bakken on April 12, and T2 Biosystems (TTOO) will host an analyst and investor event that will focus on the company’s business strategy and product pipeline. On April 13, PVH Corp. (NYSE: HPV) will host an Investor Day event to provide insight into the company’s multi-year strategic growth plan, and Ford (F) Chief Financial Officer John Lawler will participate in a fireside chat at Bank of America. Also keep an eye out for Tesla (TSLA) CEO Elon Musk’s TED Talk, which should get a lot of attention following his recent significant Twitter (TWTR) stake. The week ends with Ooma (NYSE: OOMA) hosting a virtual Investor Day on April 14.
Conference schedule: The Jefferies Virtual Space Summit will include appearances from upstarts like Redwire Corporation (RDW), Spire Global (SPIR) and BlackSky Technology (BKSY). The conference program also includes the Needham Healthcare conference, the Wells Fargo Biotech Forum, the Cantor US Cannabis conference and the Canaccord Genuity Horizons in Oncology virtual conference. Here is a more detailed list of events that could impact stock prices next week.
Tesla looks: Tesla (TSLA) will be in the spotlight again next week as investors gauge the importance of the ramp-up in production that will follow the opening of gigafactories in Berlin and Austin. Wedbush Securities predicts Tesla (TSLA) could end the year with an annual production rate of 2 million vehicles, although Shanghai’s zero-tolerance COVID policy is a big wildcard. Tesla’s scale advantage with EV production and technology is seen as potentially creating a separation with newcomers like Fisker (FSR), Lucid Group (LCID) and Rivian Automotive (RIVN) if the market shifts more towards risky trading.
Large Cap Bank Earnings Snapshot: US banking heavyweights will report earnings next week as profits are expected to fall sharply from the level seen a year ago when trading picked up speed. Net profit for the six largest U.S. banks is expected to fall about 35% from a year ago, with a sharp deceleration in activity seen in March following the Russian invasion of Ukraine. Banking reports will be closely watched on the cost side, especially with rising spending on labour, technology and acquisition. UBS thinks there could be an upside surprise for the sector with indications likely to point out that the benefits of higher rates and better than expected loan growth could offset higher provisions for the cost of credit. and weakening stock markets. The firm recommends Bank of America (NYSE: BAC) in a rising rate environment, while warning that Wells Fargo (WFC) could underperform its peers.
Annual meetings: Adobe Inc. (NASDAQ: ADBE) is due to hold its annual meeting on April 14.
Mentions of Barron: The cover story looks at the rise in retail crime on the impact for national chains like Target (TGT), Walgreens (WBA), Best Buy (BBY) and Kroger (KR). The problem has steadily worsened since 2015, when the National Retail Federation estimated that retailers lost more than $450,000 to theft for every billion dollars in sales. The relevance for investors is that the loss due to theft is now estimated at $700,000 per billion dollars in sales. In the airline industry, Delta Air Lines (DAL) is considered the top choice. Delta’s ownership of a high-margin oil refinery is said to set it apart from its peers. Looking across the Atlantic, Europe’s efforts to reduce dependence on Russian fossil fuels make Shell (SHEL) and TotalEnergies (TTE) attractive choices to weather the volatility of war.