Eyes On Accenture, Kroger Earnings, Walmart+ Event, And HPE Showcase

Summary:

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Despite a holiday-shortened week due to Juneteenth falling on Wednesday, Wall Street will have plenty to look forward to. Expect some volatility in the markets in the run-up to “triple witching” on Friday – an event in which stock options, stock index futures and stock index options all expire on the same day. In terms of economic data, traders will receive readings on U.S. retail sales and industrial production in May. Market participants following monetary policy will get to hear remarks from several Federal Reserve speakers, such as Governors Lisa Cook and Adriana Kugler. On the earnings front, home builders Lennar (NYSE:LEN) and KB Home (NYSE:KBH) will be in focus, along with IT and consulting services firm Accenture (NYSE:ACN) and supermarket chain Kroger (NYSE:KR). The event calendar will include retail giant Walmart’s (NYSE:WMT) member-only Walmart+ shopping event, which will run through June 23, and “edge-to-cloud” firm Hewlett Packard Enterprise’s (NYSE:HPE) showcase HPE Discover summit.

Earnings spotlight: Monday, June 17 – Lennar (LEN) and La-Z-Boy (LZB). See the full earnings calendar.

Earnings spotlight: Tuesday, June 18 – KB Home (KBH) and America’s Car-Mart (CRMT). See the full earnings calendar.

Earnings spotlight: Thursday, June 20 – Accenture (ACN), Kroger (KR), and Darden Restaurants (DRI). See the full earnings calendar.

Earnings spotlight: Friday, June 21 – CarMax (KMX) and FactSet (FDS). See the full earnings calendar.

Volatility watch: Options trading volume has moved higher on Maxeon Solar (MAXN). The most overbought stocks per their 14-day relative strength index include Iris Energy (IREN), WalkMe (WKME), and ADMA Biologics (ADMA). The most oversold stocks per their 14-day Relative Strength Index include Cibus Inc (CBUS), MongoDB (MDB), and UiPath (PATH). Short interest is elevated on Cutera (CUTR) and Trupanion (TRUP) heading into next week’s action. Roaring Kitty’s options on GameStop (GME) expire on June 21.

IPO watch: Nova Minerals (OTCQB:NVAAF), an Australian-listed mining exploration stage company, is expected to start trading on the New York Stock Exchange on Tuesday. The company is offering 888.9K American depositary shares at a price of $9/share. Other names expected to start trading include Chinese office supplier and after-sale maintenance and repair services provider Eshallgo (EHGO), and clinical-stage biopharmaceutical firm Kairos Pharma (KAPA). The post-IPO quiet periods expire on NANO Nuclear Energy (NNE), Silvaco Group (SVCO), and Proficient Auto Logistics (PAL) to free up analysts to post ratings.

Dividend watch: Companies that have an ex-dividend date coming next week include UnitedHealth (UNH), Hewlett Packard Enterprise (HPE), Best Buy (BBY), and Philip Morris International (PM). Companies forecast to increase their quarterly dividend payouts include Delta Air Lines (DAL) to $0.11 from $0.10, Darden Restaurants (DRI) to $1.41 from $1.31, and Matson (MATX) to $0.33 from $0.32. Read through some of the dividend stock picks from Seeking Alpha analysts.

Investor events: Notable investor events next week include Qiagen’s (QGEN) Capital Markets Day, Keros Therapeutics’ (KROS) business update call, Bread Financial’s (BFH) Investor Day, Ormat Technologies’ (ORA) Investor Day, Enviri’s (NVRI) Analyst Day, Pure Storage’s (PSTG) meeting for analysts as part of the Pure//Accelerate event, and an annual meeting for eBay (EBAY).