Google, Tesla Amid Earnings Deluge, Trump Talks Crypto, And Paris Olympics

Summary:

Get ahead of the market by subscribing to Seeking Alpha’s Stocks to Watch, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.

The spotlight next week will be on the second quarter earnings season, with investors set to receive a deluge of reports from scores of high-profile companies. Of those, two members of the “Magnificent 7” club will garner the most attention – Google-parent Alphabet Inc. (NASDAQ:GOOG), (NASDAQ:GOOGL) and electric vehicle maker Tesla, Inc. (NASDAQ:TSLA). Other companies on the docket include top U.S. telecom Verizon Communications Inc. (NYSE:VZ), soft drink behemoth The Coca-Cola Company (NYSE:KO), parcel delivery giant United Parcel Service, Inc. (NYSE:UPS), car manufacturers General Motors Company (GM) and Ford Motor Company (F), chipmaker QUALCOMM Incorporated (QCOM), and legacy tech firm International Business Machines Corporation (NYSE:IBM).

The economic calendar in the week ahead will be relatively light, with the focus on Friday’s personal income and outlays update for June. That report will contain a reading on the Federal Reserve’s favorite inflation gauge – the core personal consumption expenditures price index. In terms of investor events, the Bitcoin 2024 Conference in Nashville, Tenn. will grab eyeballs from July 25 to 27, where speakers include Republican presidential candidate Donald Trump, ARK Invest’s Cathie Wood, and whistleblower Edward Snowden.

Another notable development will be the start of the Paris Olympics, with the opening ceremony slated for July 27. Stocks such as Comcast Corporation (CMCSA) – whose NBCUniversal will be broadcasting the iconic sporting event – and fuboTV Inc. (FUBO), along with NIKE, Inc. (NKE) and Airbnb, Inc. (ABNB), are expected to see boosts from the quadrennial games.

Earnings spotlight: Monday, July 22 – Verizon Communications Inc. (VZ) and NXP Semiconductors N.V. (NXPI). See the full earnings calendar.

Earnings spotlight: Tuesday, July 23 – Alphabet Inc. (GOOG), (GOOGL), Tesla, Inc. (TSLA), Visa Inc. (V), The Coca-Cola Company (KO), Texas Instruments Incorporated (TXN), Philip Morris International Inc. (PM), United Parcel Service, Inc. (UPS), Lockheed Martin Corporation (LMT), General Motors Company (GM), and Comcast Corporation (CMCSA). See the full earnings calendar.

Earnings spotlight: Wednesday, July 24 – International Business Machines Corporation (IBM), AT&T Inc. (T), Chipotle Mexican Grill, Inc. (CMG), General Dynamics Corporation (GD), and Ford Motor Company (F). See the full earnings calendar.

Earnings spotlight: Thursday, July 25 – AbbVie Inc. (ABBV), Northrop Grumman Corporation (NOC), Union Pacific Corporation (UNP), and AstraZeneca PLC (AZN). See the full earnings calendar.

Earnings spotlight: Friday, July 26 – Bristol Myers Squibb Company (BMY), Colgate-Palmolive Company (CL), and Charter Communications, Inc. (CHTR). See the full earnings calendar.

Volatility watch: Options trading volume is elevated again on GameStop Corp. (GME) and Sirius XM Holdings Inc. (SIRI). The most overbought stocks per their 14-day relative strength index include The Bancorp, Inc. (TBBK), CrossFirst Bankshares, Inc. (CFB), and Emergent BioSolutions Inc. (EBS). The most oversold stocks per their 14-day Relative Strength Index include Helen of Troy Limited (HELE), Five Below, Inc. (FIVE), and Oaktree Specialty Lending Corporation (OCSL). Short interest has moved even higher in Beyond Meat, Inc. (BYND) and Kohl’s Corporation (KSS).

IPO watch: E-sports organization NIP Group, Inc. (NIPG), digital finance software platform OneStream, Inc. (OS), clinical stage biopharma Actuate Therapeutics, Inc. (ACTU), occupational health services provider Concentra Group Holdings Parent, Inc. (CON), and REIT Lineage, Inc. (LINE) are expected to price their IPOs and start trading in the week ahead. Companies whose IPO lockup periods will expire include mF International Limited (MFI), CG Oncology, Inc. (CGON), and BrightSpring Health Services, Inc. (BTSG).

Dividend watch: Companies that have an ex-dividend date coming next week include Caterpillar Inc. (CAT), CVS Health Corporation (CVS), Dell Technologies Inc. (DELL), Lowe’s Companies, Inc. (LOW) and Pfizer Inc. (PFE). Companies forecast to increase their quarterly dividend payouts include Wells Fargo & Company (WFC) to $0.40 from $0.35, McKesson Corporation (MCK) to $0.69 from $0.62, and Las Vegas Sands Corp. (LVS) to $0.22 from $0.20. Read through some dividend stock picks from Seeking Alpha analysts.

Investor events: The Farnborough International Airshow will capture the attention of the aviation industry, with expected appearances from The Boeing Company (BA), Embraer S.A. (ERJ), Airbus SE (OTCPK:EADSF), and Textron Inc. (TXT). The focus will also be on the aforementioned Bitcoin 2024 Conference. Additionally, NV5 Global, Inc. (NVEE) will be holding an investor day, while Matterport, Inc. (MTTR) will hold a special shareholder meeting to vote on the pending merger with CoStar.