Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. A podcast of Stocks to Watch is also available on Sundays on Seeking Alpha, Apple Podcasts, Stitcher and Spotify (click the highlighted links).
Got oil? OPEC and its partners are expected to hold an emergency virtual meeting on April 8-9 in a concerted effort to stabilize markets after the meeting was pushed back from its original date of April 6. All eyes are on if Saudi Arabia, Russia and the U.S. will reach an agreement to take up to 15 million barrels of crude off the market. Heading into next week, Brent crude trades currently at $34.11 a barrel (+14% from Friday) and U.S. West Texas Intermediate stands at $28.34 (+12%) - with oil majors Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Total (NYSE:TOT), BP (NYSE:BP) and Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) all looking for positive developments to help start a recovery. No great surprise, but jobs are going to be a major focus again next week after 6.6M jobless claims came in. JPMorgan forecasts another 7M unemployment claims are coming down next week and some estimates range even higher. Other economic reports of note include the JOLTS update and a check on consumer prices, while the FOMC will drop the minutes from its latest meeting to the delight of Fed watchers.
Earnings spotlight: Simply Good Foods (NASDAQ:SMPL) on April 6; Greenbrier (NYSE:GBX), Revlon (NYSE:REV), Levi Strauss (NYSE:LEVI) and Lindsay (NYSE:LNN) on April 7; PriceSmart (NASDAQ:PSMT) on April 8; and Delta Air Lines (NYSE:DAL), Shaw Communications (NYSE:SJR) and WD-40 (NASDAQ:WDFC) on April 9.
IPO watch: There are no hints of a company going public next week, but IPO share lockups expire on BioNTech (NASDAQ:BNTX), HBT Financial (NASDAQ:HBT) and Vir Biotechnology (NASDAQ:VIR). Analysts can also start covering Imara (NASDAQ:IMRA). The biotech stock closed at $15.81 on Friday after the IPO was priced at $16 per share.
Go deeper: Catch up on all the latest IPO news.
M&A tidbits: The tender offer on the Forty Seven (NASDAQ:FTSV)-Gilead Sciences (NASDAQ:GILD) deal expires on April 6. Shareholders vote on the Anixter International (NYSE:AXE)-Wesco International (NYSE:WCC) merger on April 8. Look for more indications that the Caesars Entertainment (NASDAQ:CZR)-Eldorado Resorts (NASDAQ:ERI) deal and Delphi Technologies (NYSE:DLPH)-BorgWarner (NYSE:BWA) combination can make it to finish line.
Costco: While traffic at Costco (NASDAQ:COST) stores has finally tailed off just a bit amid social distancing efforts, the retailer's report on March sales has the potential to be a head-turner. As a reminder, Costco saw U.S. comparable sales soar 12% in February as the consumer stockpiling trend first started to take off and the consensus mark for Costco's Q2 comparable sales (U.S., Canada and international) is at a healthy 9.3%. Buckle (NYSE:BKE), Cato (NYSE:CATO) and PriceSmart (PSMT) are also in line to issue monthly sales report.
Airline traffic reports: Airline traffic reports will start arriving next week and could include some color on the devastating impact of the pandemic on load factors, earnings and government aid. Late on Friday, JetBlue (NASDAQ:JBLU) warned on a cash crunch, Delta Air Lines (DAL) said it's burning through $60M a day and United Airlines (NASDAQ:UAL) set the high-water for distress by disclosing that it's losing $100M a day. It's likely to be another week of volatile trading for those three carriers as well as American Airlines Group (NASDAQ:AAL), Southwest Airlines (NYSE:LUV), Hawaiian Holdings (NASDAQ:HA), Alaska Air Group (NYSE:ALK), Allegiant Travel (NASDAQ:ALGT), Spirit Airlines (NYSE:SAVE), Mesa Air Group (NASDAQ:MESA) and SkyWest (NASDAQ:SKYW).
Business updates: Incyte (NASDAQ:INCY) is scheduled to discuss Phase 3 data on Ruxolitinib Cream for Atopic Dermatitis on April 6. RLH (NYSE:RLH) has a conference call set for April 6 to discuss organizational changes. PAVmed (NASDAQ:PAVM) is hosting a conference call on April 9, with CEO Lishan Aklog expected to provide an overview of the company's near-term milestones and growth strategy. FedEx (NYSE:FDX) is on tap to deliver its monthly economic update and projections on April 10.
Voice of the Car Summit: The connect car event on April 7-8 has switched to an online format due to the pandemic. The all-star roster of speakers includes execs from Mercedes-Benz (OTCPK:DDAIF), Google (NASDAQ:GOOG) (NASDAQ:GOOGL), iHeartMedia (NASDAQ:IHRT), LinkedIn (NASDAQ:MSFT), Ford (NYSE:F) and Intel (NASDAQ:INTC). The expected timeline and uses for 5G-based cellular connectivity into cars could be an interesting topic.
Restaurants: The restaurant industry will be put to the test again next week as operators continue to look for takeout/delivery workarounds to keep at last some revenue coming in. Analysts expect the industry could look different on the other side of the pandemic. Cowen's Andrew Charles sees Domino's Pizza (NYSE:DPZ) and Papa John's International (NASDAQ:PZZA) nabbing market share from independents and value-minded chains like Red Robin Gourmet Burgers (NASDAQ:RRGB) and Olive Garden (NYSE:DRI) resonating in a harsh economy. The pivot for chains focused in dense urban areas isn't quite so simple. Shake Shack (NYSE:SHAK) isn't standing still, already adding Uber Eats (NYSE:UBER) and DoorDash (DOORD) as delivery options and partnering on cook-at-home burger kits.
Short report: The list of short favorites is worth taking a look at amid the wild market swings. While Blue Apron (NYSE:APRN) and Peloton Interactive (NASDAQ:PTON) have defied the market collapse as favorite stay-at-home stock picks, there are plenty of short picks cooperating. Looking ahead to next week, the list of high short interest names includes GameStop (NYSE:GME), Match Group (NASDAQ:MTCH), Gogo (NASDAQ:GOGO), Mallinckrodt (NYSE:MNK), SmileDirectClub (NASDAQ:SDC), Tanger Factory Outlet (NYSE:SKT), Carvana (NYSE:CVNA), AMC Entertainment (NYSE:AMC), Dillard's (NYSE:DDS), Stitch Fix (NASDAQ:SFIX), Wayfair (NYSE:W) and Carvana (CVNA). On a pure dollar basis, Tesla (NASDAQ:TSLA) is also near the top list with short interest standing at over $8B. Then in what would have been a shocking development a few months ago, short interest on Nike (NYSE:NKE), Starbucks (NASDAQ:SBUX) and Home Depot (NYSE:HD) has moved much higher than historic norms.
Wells Fargo Biotech Corporate Access Day Virtual Conference Boston 2020: The biotech conference has gone to online presentations, but should still be just as intriguing. Look for updates from uniQure (NASDAQ:QURE), Adaptimmune Therapeutics (NASDAQ:ADAP), Affimed (NASDAQ:AFMD), Akcea Therapeutics (NASDAQ:AKCA), Applied Genetic Technologies (NASDAQ:AGTC), Arena Pharmaceuticals (NASDAQ:ARNA), Autolus Therapeutics (NASDAQ:AUTL), AVROBIO (NASDAQ:AVRO), bluebird bio (NASDAQ:BLUE), Celyad (NASDAQ:CYAD), Crispr Therapeutics (NASDAQ:CRSP), Gritstone Oncology (NASDAQ:GRTS), IMV (NASDAQ:IMV), Infinity Pharmaceuticals (NASDAQ:INFI), Jounce Therapeutics (NASDAQ:JNCE), MEI Pharma (NASDAQ:MEIP), Momenta Pharmaceuticals (NASDAQ:MNTA), MyoKardia (NASDAQ:MYOK) and Voyager Therapeutics (NASDAQ:VYGR).
Virtual biotech conferences: The online Goldman Sachs Cell Therapy Day conference will feature presentations from Allogene Therapeutics (NASDAQ:ALLO), TCR2 Therapeutics (NASDAQ:TCRR) and Precision Biosciences (NASDAQ:DTIL). The Canaccord Genuity Horizons in Oncology Conference on April 8 also includes an online presentation by Allogene Therapeutics, along with IGM Biosciences (NASDAQ:IGMS).
Videogames check: Analysts seem to be in disagreement on whether the closing of many retail stores will be offset by the boost in digital sales amid the pandemic. On the positive side, there has been an increase in Twitch viewership and Steam users to go along with explosive sales of Nintendo's (OTCPK:NTDOY) Animal Crossing. However, that burst of energy comes against a long streak of monthly declines in videogame sales ahead of the console refresh cycle. The next test of the market could be Activision Blizzard's (NASDAQ:ATVI) release of Call of Duty: Modern Warfare Season 3 on April 8.
Annual meetings: Annual meetings on the calendar include Rio Tinto (NYSE:RIO) on April 8, as well as Adobe (NASDAQ:ADBE) and Synopsys (NASDAQ:SNPS) on April 9. Needless to say, those events will be of virtual variety.
Furlough Nation: The shock of the massive amount of furloughing of U.S. employees will wear off a little bit next week to leave the question of what does it mean for investors? Analysts say the crisis management skills of top execs and the strength of the underlying businesses will be the critical factors in seeing share prices recover. A partial list of companies that instituted furloughs includes Macy's (NYSE:M), Kohl's (NYSE:KSS), J.C. Penney (NYSE:JCP), Stage Stores (NYSE:SSI), Ross Stores (NASDAQ:ROST), Gap (NYSE:GPS), L Brands (NYSE:LB), Urban Outfitters (NASDAQ:URBN), Simon Property Group (NYSE:SPG), Buckle (BKE), Cato (CATO), Guess (NYSE:GES), Children's Place (NASDAQ:PLCE), Marriott International (NASDAQ:MAR), Tilly's (NYSE:TLYS), Express (NYSE:EXPR), Ascena Retail (NASDAQ:ASNA), Chico's (NYSE:CHS), Movado (NYSE:MOV), Genesco (NYSE:GCO), Caleres (NYSE:CAL), Steven Madden (NASDAQ:SHOO), G-III Apparel (NASDAQ:GIII), Disney (NYSE:DIS), La-Z-Boy (NYSE:LZB), Ethan Allen (NYSE:ETH), Havertys (NYSE:HVT), Casper Sleep (NYSE:CSPR), Five Below (NASDAQ:FIVE), Sysco (NYSE:SYY), Cheesecake Factory (NASDAQ:CAKE), Shake Shack (SHAK), Ruth's Hospitality (NASDAQ:RUTH), SeaWorld Entertainment (NYSE:SEAS), Polaris (NYSE:PII), Caesars Entertainment (CZR), Funko (NASDAQ:FNKO), Gannett (NYSE:GCI), American Eagle Outfitters (NYSE:AEO), and MarineMax (HAZO).
Barron's mentions: The tough stretch ahead for the advertising industry is profiled in detail, with spending expected to be down sharply. On the digital side, Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) have already warned that they will take a hit from the downturn, while Alphabet's Google is also likely to be hurt. Cable players AMC Networks (NASDAQ:AMCX), ViacomCBS (NASDAQ:VIAC) and Discovery (NASDAQ:DISCA) face advertising dollars drying up, subscription services growth and a lack of sports programming in a triple whammy could set the stage for an acceleration in the long-running cord-cutting trend. Sharp revenue drops are also expected for New York Times (NYSE:NYT), News Corp (NASDAQ:NWSA), Meredith (NYSE:MDP), Gannett (GCI), Clear Channel Outdoor Holdings (NYSE:CCO), Outfront Media (NYSE:OUT), iHeartMedia (IHRT) and Cumulus Media (NASDAQ:CMLS). The largest U.S. media businesses have seen as being better off, but trouble areas are still on the road ahead for Comcast (NASDAQ:CMCSA), AT&T (NYSE:T) and Walt Disney (DIS). The publication also sets out a list of biotechs to own for a post-pandemic world. Gilead Sciences (GILD), Blueprint Medicines (NASDAQ:BPMC), WuXi Biologics (OTC:WXIBF), WuXi Apptec (OTCPK:WUXAY), Invitae (NYSE:NVTA), bluebird bio (BLUE), Fate Therapeutics (NASDAQ:FATE) and Crispr Therapeutics (CRSP) make the cut.
Sources: CNBC, Bloomberg, Nikkei Asian Review, Reuters, EDGAR, S3 Partners.