Tesla stock split, Peloton earnings, Fed Jackson Hole symposium top week ahead
FOX Business host Charles Payne provides insight into investing in the stock market on “Making Money.”
Investors are bracing for another busy week of corporate earnings and economic data focused on housing and consumer. The coming week will also be big for investors of AMC Entertainment, which will debut its APE shares, and Tesla, which will begin trading shares during a 3-for-1 stock split.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGE | 33706.74 | -292.30 | -0.86% |
| SP500 | S&P 500 | 4228.48 | -55.26 | -1[ads1].29% |
| In: COMP | NASDAQ COMPOSITE INDEX | 12705.215054 | -260.13 | -2.01% |
On Friday, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite ended the week lower as fears resurfaced over a Fed rate hike in September. The Dow lost nearly 300 points on the day.
FOX Business takes a look at the upcoming events likely to move the financial markets in the coming days.
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Monday 22/8
Palo Alto Networks and Zoom Video Communications start the week with earnings after the bell. Investors will also take in the Chicago Federal Reserve’s national activity index.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| PANW | PALO ALTO NETWORKS INC. | 513.51 | -4.34 | -0.84% |
| ZM | ZOOM VIDEO COMMUNICATION INC. | 99.50 | -3.68 | -3.57% |
In other Fed news, Lorie Logan will take over as president of the Dallas Federal Reserve. She replaces Robert Kaplan, who stepped down from the role in October following a stock trading controversy.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 18.02 | -1.42 | -7.31% |
In addition, AMC’s preferred stock is scheduled to begin trading on the New York Stock Exchange under the ticker symbol APE. Each APE unit represents one one-hundredth share in one share of AMC’s authorized Series A convertible participating preferred stock. AMC will issue one APE unit as a dividend for each equity share.
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Tuesday 23/8
Earnings will rise on Tuesday with Dick’s Sporting Goods, Dole PLC, JM Smucker, JD.com, Macy’s and Medtronic before the market open and Advance Auto Parts, Intuit, La-Z-Boy, Nordstrom, Toll Brothers and Urban Outfitters after the clock.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| DKS | DICK’S SPORTING GOODS INC. | 111.05 | -1.42 | -1.26% |
| DOLE | DOLE PLC | 9.10 | -0.08 | -0.87% |
| SJM | JM SMUCKER CO. | 139.89 | +0.57 | +0.41% |
| JD | JD.COM INC. | 54.70 | -0.49 | -0.89% |
| M | MACY’S INC. | 19.40 | -0.92 | -4.53% |
| MDT | MEDTRONIC PLC | 95.00 | -0.26 | -0.27% |
| AAP | ADVANCE AUTO PARTS INC. | 207.02 | -0.47 | -0.23% |
| INTU | INTUIT INC. | 463.95 | -13.80 | -2.89% |
| LZB | LA-Z-BOY INC. | 29.47 | -0.77 | -2.55% |
| JWN | NORDSTROM INC. | 24.18 | -0.36 | -1.47% |
| CUSTOMS | TOLL BROTHERS INC. | 47.26 | -1.74 | -3.55% |
| URBAN | URBAN OUTFITTERS INC. | 22.33 | -0.71 | -3.08% |
Housing will be the focus of economic data on Tuesday with new home sales and building permits. Minneapolis Fed President Neel Kashkari will also participate in a Q&A session at a gathering of the Wharton Minnesota Alumni Club.
Wednesday 24/8
Petco and Brinker International will take the spotlight on earnings before the market opens on Wednesday. Autodesk, Box, NetApp, Nvidia, Snowflake, Splunk and Victoria’s Secret will deliver earnings results after the bell.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| WOF | PETCO HEALTH AND WELLNESS COMPANY INC. | 15.88 | -0.85 | -5.08% |
| EAT | BRINKER INTERNATIONAL INC. | 31.64 | -1.64 | -4.93% |
| ADSC | AUTODESK INC. | 222.59 | -6.27 | -2.74% |
| BOX | BOX INC. | 30.36 | -0.60 | -1.95% |
| NTAP | NETAPP INC. | 74.29 | -1.20 | -1.59% |
| NVDA | NVIDIA CORP. | 178.49 | -9.24 | -4.92% |
| SNOW | SNOWFLAKE INC. | 153.94 | -7.81 | -4.83% |
| SPLKVSCO | now | now | now | now |
On the financial data front, investors will digest durable goods, pending home sales, weekly mortgage applications and the Energy Information Administration’s weekly crude oil inventories.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| ADVICE | RITE AID CORP. | 7.71 | -0.85 | -9.99% |
Rite Aid will also hold a virtual event where President and CEO Heyward Donigan and CFO Matt Schroeder will field questions from retail shareholders.
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Thursday 25/8
Rounding out the week for earnings will be Abercrombie & Fitch, Burlington Stores, Coty, Destination XL Group, Dollar General, Dollar Tree, Gap, Hain Celestial Group, Peloton Interactive and Shoe Carnival before the market opens on Thursday.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| ANF | ABERCROMBIE & FITCH CO. | 20.58 | -0.65 | -3.06% |
| BURL | BURLINGTON STORES | 163.35 | -5.63 | -3.33% |
| COTY | COTY INC. | 7.50 | -0.32 | -4.09% |
| DXLG | DESTINATION XL GROUP | 4.39 | +0.09 | +2.09% |
| DG | DOLLAR GENERAL CORP. | 253.86 | -3.80 | -1.47% |
| DLTR | DOLLAR TREE INC. | 167.68 | -0.37 | -0.22% |
| GPS | GAP INC. | 10.10 | -0.76 | -7.00% |
| HAIN | HAIN CELESTIAL GROUP INC. | 25.45 | +0.65 | +2.62% |
| PTON | PELOTON INTERACTIVE INC. | 11.71 | -0.95 | -7.50% |
| SCVL | SHOE CARNIVAL | 25.44 | -0.18 | -0.70% |
Meanwhile, Dell Technologies, Marvell Technology, Ulta Beauty, VMware and Workday will be the earnings watchers to watch.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| DELL | DELL TECHNOLOGIES INC. | 47.67 | -1.27 | -2.60% |
| MURLY | MARVELL TECHNOLOGY INC. | 53.14 | -1.41 | -2.58% |
| ULTA | ULTA BEAUTY INC. | 403.25 | -6.00 | -1.47% |
| VMW | VMWARE INC. | 121.58 | -0.86 | -0.70% |
| WDAY | WORKDAY INC. | 168.18 | -4.95 | -2.86% |
Economic data on the document will include corporate profits, the second estimate of GDP and the latest in initial and ongoing unemployment claims.
The Federal Reserve will also host its annual symposium in Jackson Hole, Wyoming, which will bring together prominent central bankers, Treasury ministers, academics and financial market participants from around the world. This year’s meeting, entitled “Reassessing Constraints on the Economy and Policy”, will run until 27 August.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 890.00 | -18.61 | -2.05% |
In addition, shares in Tesla will begin trading during its 3-for-1 stock split. Each shareholder registered from and including 17 August will receive a dividend of two additional shares of ordinary shares for each share held, which will be distributed after the close of trading on 24 August.
Friday 26/8
Rounding out the week of economic data will be the personal consumption expenditures (PCE) price index and the University of Michigan’s consumer sentiment index.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| UBS | UNITED BANKSHARES INC. (WEST VIRGINIA) | 39.93 | -0.29 | -0.72% |
Friday also marks the last day of trading for United Bancshares before the voluntary delisting from Nasdaq. The company has taken steps for the shares to be listed on the OTCQX market around August 29 under the ticker symbol UBOH.
