Catalyst Watch: Spotlight on FedEx, Nike, Micron and gold stocks

Welcome to Searching for Alpha’s Catalyst Watch – a breakdown of a few of subsequent week’s actionable occasions that stand out. Take a look at Saturday morning’s common Shares to Watch article for a full record of occasions deliberate for the week, or the Searching for Alpha earnings calendar for corporations attributable to report.

Monday – December 18

• Volatility watch – Choices buying and selling quantity is excessive once more on Spirit Airways (SAVE) as merchants wait on the results of the Division of Justice trial on blocking the merger with JetBlue Airways (JBLU). Sirius XM Holdings (SIRI) and Huge Heaps (BIG) each have an elevated stage of quick positions on them. Essentially the most overbought shares per their 14-day Relative Power Index are Snap (SNAP), Influence Fusion Worldwide (OTCPK:IFUS), and MBIA (MBI). Essentially the most oversold shares per their 14-day Relative Power Index are ReAlpha Tech (AIRE), Ventyx Bio (VTYX), and Talon Metals (OTCPK:TLOFF). Gold shares Newmont (NEM), Barrick Gold (GOLD), Franco-Nevada (FNV), Coeur Mining (CDE), New Gold (NGD), Gold Fields Restricted (GFI), Sibanye Stillwater Restricted (SBSW), and i-80 Gold Corp. (IAUX) are a number of the sector names on look ahead to extra volatility.
• Earnings watch – Notable corporations attributable to report embody HEICO (HEI).
• All day – The Financial institution of America Hydrogen Convention will embody displays by Plug Energy (PLUG) and CF Industries (CF).

Tuesday – December 19

• Earnings watch – Notable corporations attributable to report embody FedEx (FDX), Accenture (ACN), FactSet (FDS), and FuelCell Vitality (FCEL).
• M&A votes – Livent (LTHM) shareholders will vote on the merger of equals with Allkem Restricted (OTCPK:OROCF). Orchard Therapeutics (ORTX) shareholders will vote on the takeover provide from Kyowa Kirin (OTCPK:KNBWY) (OTCPK:KYKOY).
• All day – The Financial institution of Japan assembly subsequent week has the potential for some dramatic hints on the top of the unfavourable rates of interest period for the nation.
• All day – WTI crude December futures will expire. Crude oil futures (CL1:COM) have seen further volatility over the past 12 months on contract expiration dates.
• All day – AutoZone (AZO), United Pure Meals (UNFI), and Guidewire Software program (GWRE) will maintain their annual conferences.
• 8:30 a.m. The housing sector will get a double dose of information with the discharge of the constructing permits and housing begins reviews.
• 12:30 p.m. Federal Reserve Financial institution of Atlanta President Raphael Bostic will converse on the U.S. economic system and common enterprise outlook.
• 5:30 p.m. FedEx (FDX) will maintain its FQ4 earnings convention name. The shares with the best buying and selling correlation with FedEx (FDX) on its earnings day are United Parcel Service (UPS), Expeditors Worldwide (EXPD), and Landstar System (LSTR).

Wednesday – December 20

• Earnings watch – Notable corporations attributable to report embody Normal Mills (GIS), Micron Expertise (MU), Toro (TTC), and Winnebago (WGO). Choices buying and selling on Blackberry (BB) implies a 9% swing in share worth after the corporate reviews.
• 10:00 a.m. The November present dwelling gross sales report will probably be launched. Economists forecast 3.77M present dwelling gross sales within the month vs. 3.79M in October. Though mortgage charges are dropping, the 30-year fastened mortgage charge was nonetheless above 7% in November.
• 5:00 p.m. Micron Expertise (MU) will maintain its FQ1 earnings name. Choices buying and selling implies a 6% swing in share worth after the semiconductor firm reviews. Qualcomm (QCOM) and FormFactor (FORM) are the 2 shares with the tightest buying and selling correlation to Micron on earnings days.

Thursday – December 21

• Earnings watch – Notable corporations attributable to report embody CarMax (KMX), Paychex (PAYX), Carnival (CCL), and Nike (NKE). Choices buying and selling on Mission Produce (AVO) implies a 13% swing in share worth after the corporate reviews.
• 8:30 a.m. The Philadelphia Fed Index report will probably be launched. Economists count on the index to remain in contractionary territory as enterprise funding slows from the prior unsustainable stage of development.
• 4:30 p.m. ARK Make investments will maintain its December Fund mARKet Replace webinar.

Friday – December 22

• All day – The FDA motion arrives for Ionis Prescribed drugs’ (IONS) Eplontersen for hereditary transthyretin-mediated amyloid polyneuropathy. The drug candidate met all main and secondary endpoints in a section 3 trial at 66 weeks. Ionis is teaming up with AstraZeneca (AZN) to develop and commercialize eplontersen
• All day – It’s the preliminary proxy deadline for the proposed merger between Alaska Airways (ALK) and Hawaiian Holdings (HA).
• 8:30 a.m. The PCE core costs report will probably be launched. The Federal Reserve’s favored inflation gauge is forecast to point out a smooth 0.2% month-over-month and three.4% year-over-year rise for November.
• 8:30 a.m. The November Sturdy Items Orders report is forecast to point out a small month-over-month enhance, with Boeing (BA) anticipated to be much less of a drag on the general quantity than in October.
• 8:30 a.m. One of many closing readings of the 12 months on client sentiment will arrive simply as the vacation buying season wraps up. The College of Michigan Client Sentiment report is anticipated to be per the preliminary studying, which confirmed a surge in sentiment to 69.4 from 61.3 beforehand amid confidence that rates of interest will fall in 2024.