Catalyst Watch: Nvidia earnings, Microsoft Ignite, crypto confidence, and P&G event

Welcome to Seeking Alpha’s Catalyst Watch – a breakdown of some of next week’s actionable events that stand out. Read more about the events that may impact stock prices next week.

Monday – November 18

• Volatility watch – Spirit Airlines (SAVE) heads the list of options trading with high implied volatility amid bankruptcy speculation. The most overbought stocks per their 14-day relative strength index include BILL Holdings Inc (BILL), Innodata (INOD), and Athena Bitcoin Global (OTCPK:ABIT). The most oversold stocks per their 14-day Relative Strength Index include Ardmore Shipping (ASC), Torm (TRMD), Scorpio Tankers (STNG). Short interest is elevated on MicroVision (MVIS) and FuelCell Energy (FCEL).
• All week – The strong rally in cryptocurrencies and crypto-related stock will get a test during the week to see if the post-election enthusiasm can sustain. Traders have looked beyond bitcoin (BTC-USD) and ether (ETH-USD) to altcoins such as Pepe (PEPE-USD), dogecoin (DOGE-USD), near (NEAR-USD), cardano (ADA-USD), and sui (SUI-USD). Crypto-related stocks of interest include MicroStrategy (MSTR), MARA Holdings (MARA), Riot Platforms (RIOT), Hut 8 (HUT), Bakkt Holdings (BKKT), Galaxy Digital Holdings (OTCPK:BRPHF), and Bit Digital (BTBT).
• Earnings watch – Notable companies due to report include Trip.com (TCOM), BellRing Brands (BRBR), and Brady (BRC).
• All day – The two-day G20 summit will begin in Rio de Janeiro, Brazil.
• All day – The two-day Stifel Healthcare Conference will include participation from a large number of companies in the healthcare sector, including Johnson & Johnson (JNJ), Editas Medicine (EDIT), Merus N.V. (MRUS), Qiagen (QGEN), and Ionis Pharmaceuticals (IONS) to name a few.
• 10:00 a.m. Chicago Federal Reserve Bank President Austan Goolsbee will give welcome remarks before the Financial Markets Group Fall Conference hosted by the Federal Reserve Bank of Chicago.
• 10:15 a.m. Fortinet (FTNT) will hold an Analyst Day event on the 15th anniversary of the company’s IPO. Bank of America expects Fortinet will give long-term guidance ahead of expectations.

Tuesday – November 19

• Earnings watch – Notable companies due to report include Walmart (WMT), Lowe’s (LOW), XPeng (XPEV), Viking Holdings (VIK), and Medtronic (MDT). Options trading implies a sizable swing in share price for Amer Sports (AS) and ZTO Express (ZTO) following their reports.
• All day – The IPO quiet period ends on WeRide (WRD). The Chinese robotaxi stock has soared since its public debut last month.
• All day – The three-day Microsoft Ignite Conference will begin. The tech giant is expected to highlight its latest AI innovations. Last year, companies ranging from Oracle (ORCL), Asana (ASAN), to monday.com (MNDY) were seen benefiting from the updates at the Ignite conference.
• 8:30 a.m. The Housing Starts and Building Permits reports will be released by the U.S. Census Bureau.

Wednesday – November 20

• Earnings watch – Notable companies due to report include Nvidia (NVDA), TJX Companies (TJX), Target (TGT), Palo Alto Networks (PANW), and Snowflake (SNOW). Options trading implies a sizable swing in share price for Williams-Sonoma (WSM) and Jack in the Box (JACK) after their reports are released.
• All day – The go-shop period on the Duckhorn Portfolio (NAPA) acquisition offer from Butterfly Effect will expire. Shares of NAPA traded $0.07 below the deal price at the time of publication.
• All day – Delta Air Lines (DAL) will hold its Investor Day. Bank of America expects to hear updates on Q4 booking trends and more details on the 5-year plan. Shares of Delta rallied the last time the airline company held a similar event.
• All day – The Southwest IDEAS Investor Conference will feature a long list of participating companies, including Crown Crafts (CRWS), Unisys (UIS), and U.S. Physical Therapy (USPH). The conference has led to notable share price moves in the past for some companies.
• All day – Notable investor events include Rockwell Automation’s (ROK) Investor Day, Delta Air Lines’ (DAL) Investor Day, Quad/Graphics’ (QUAD) Investor Day, and Stanley Black & Decker’s (SWK) Capital Markets Day.
• All day – WTI crude December futures will expire. Crude oil futures have seen extra volatility over the last year on contract expiration dates.
• 8:00 a.m. Target (TGT) will hold its earnings call. Options trading implies a move of 9% after the report is released. Of note, Evercore ISI issued a warning that the retailer will issue conservative holiday quarter guidance. Honest Company (HNST) and JAKKS Pacific (JAKK) are the two major suppliers with the highest trading correlation to TGT after earnings.
• 8:40 a.m. General Motors (GM) will participate in the Barclays Global Automotive and Mobility Tech Conference.
• 10:00 a.m. The Atlanta Fed Business Inflation Expectations update will be released. The report is a monthly survey conducted by the Federal Reserve Bank of Atlanta to assess firms’ expectations of future inflation and their current business conditions.
• 10:05 a.m. Ford Motor (F) will present at the Barclays Global Auto & Mobility Tech Conference.
• 5:00 p.m. Nvidia (NVDA) will hold its earnings call. Options trading implies a 9% share price swing for the semiconductor stock after the report is released. Fabrinet (FN) is the supplier with the highest trading correlation to NVDA after earnings.

Thursday – November 21

• Earnings watch – Notable companies due to report include Intuit (INTU), Deere (DE), Ross Stores (ROST), and Baidu (BIDU). Options trading implies a sizable swing in share price for Cerence (CRNC) and Gap (GAP) after their reports are released.
• All day – A very busy day of investor events is headlined by Procter & Gamble’s (PG) Investor Day. Other events with the potential to lead to share price moves include Paycor HCM’s (PYCR) first-ever Investor Day, Revvity’s (RVTY) Investor Day event, Procore Technologies’ (PCOR) Investor Day, Kyndryl Holdings’ (KD) Investor Day, and GE Healthcare Technologies’ (GEHC) Investor Day.
• All day – The Los Angeles Auto Show will begin. Porsche, Hyundai (OTCPK:HYMTF) and Kia will hold press conferences on the first day. Fiat (STLA), Ford Motor (F), Hyundai, Kia, Porsche, and Volkswagen (OTCPK:VLKAF) all have new models being unveiled during the week-long event.
• 10:00 a.m. The Existing Home Sales report will be released by the National Association of Realtors.
• 12:30 p.m. Cleveland Federal Reserve Bank President Beth Hammack will participate in a conversation before the 2024 Financial Stability Conference: Emerging Risks in a Time of Interconnectedness and Innovation.

Friday – November 22

• All day – Global flash November PMI reports will provide a health check on global growth.
• All day – The start of the festivities of the F1 Las Vegas Grand Prix (FWONA) will have investors watching for the potential impact on Las Vegas casinos.
• All day – Circana will release video game industry sales data for October. EA Sports FC 25 (EA) was September’s best-selling video game.

Seeking Alpha Editor Josh Fineman contributed to this story.