Stocks To Watch: Spotlight On Nvidia, AMC Entertainment, Snowflake, Twilio And DICK'S

Stay ahead of the game by signing up for Seeking Alpha's Stocks to Monitor, a sneak peek into significant events planned for the upcoming week. This informative bulletin will keep you up to date with the major topics expected to grab attention, such as upcoming initial public offerings, investor meetings, financial result announcements, and conference appearances.

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Investors will aim to regroup in the upcoming week following three consecutive weeks of declines for the S&P 500 Index and the Nasdaq Composite Index. These declines have raised concerns about increasing Treasury yields and inflation. These market weaknesses occurred just before the Federal Reserve's Jackson Hole symposium, which will be a crucial event for investors. Federal Reserve Chair Jerome Powell will deliver a speech, but Seeking Alpha analyst Gary Gambino suggests that investors should not anticipate any major surprises from the conference. According to Gambino, the Fed will most likely reiterate its intention to maintain high interest rates for an extended period to prevent a resurgence of inflation. At the beginning of the week, economists will have additional data to analyze with the release of global flash PMI prints, U.S. durable goods orders, and European sentiment indicators. The market will also closely watch the earnings reports of Nvidia, DICK'S Sporting Goods, and Snowflake. Additionally, on the labor front, the United Auto Workers union will hold a vote next week to authorize striking against Detroit automakers Stellantis, Ford, and General Motors Company. Union President Shawn Fain expressed the slow progress of talks, as they have yet to address wage and other economic issues. Traders may also witness the completion of the AMC Entertainment 1-for-10 reverse stock split and subsequent APE unit conversion.

Highlighting earnings: Monday, August 21 - Zoom Video (ZM) and Nordson (NDSN).

Notable profits: Tuesday, August 22 - Lowe's (LOW), DICK'S Sporting Goods (DKS), Baidu (BIDU), Medtronic (MDT), Macy's (M), and Toll Brothers (TOL).

Focus on earnings: Wednesday, August 23 - Nvidia (NVDA), Analog Devices (ADI), Snowflake (SNOW), Autodesk (ADSK), Splunk (SPLK), and Foot Locker (FL) take the spotlight in terms of financial performance.

Highlight on Profits: Thursday, August 24 - Intuit (INTU), Toronto-Dominion Bank (TD), NetEase (NTES), Workday (WDAY), Ulta Beauty (ULTA), Gap (GPS), Affirm (AFRM), and Marvell Technology (MRVL).

Keeping an eye on fluctuations: The amount of people betting against Fisker (FSR) and Blink Charging (BLNK) and hoping for their stock prices to fall is significantly high as their earnings reports approach. The number of trades involving options is particularly high for Yellow (OTC:YELLQ) and AEye (LIDR) yet again.

Monitoring Initial Public Offerings (IPOs) and spinoffs: There are no upcoming IPOs scheduled to be priced in the upcoming week. Analysts may release ratings for Surf Air Mobility (NYSE:SRFM), Warrantee (NASDAQ:WRNT), ParaZero Technologies (NASDAQ:PRZO), Earlyworks (NASDAQ:ELWS), Janover (NASDAQ:JNVR), and SharkNinja (NYSE:SN) for the first time after the quiet periods for these stocks expire. There are reports suggesting that Instacart (ICART) may finally file for its much-anticipated IPO on the Nasdaq.

Dividend Alert: Companies expected to elevate their quarterly dividend disbursements can be found on Seeking Alpha's compilation of Rapid Dividend Stock Selections.

Preview: The Federal Reserve's annual Economic Policy Symposium will be held in Jackson Hole, Wyoming from August 24-26. This year's retreat, titled "Changes in the Global Economy," will focus on the structural shifts occurring worldwide. Everyone will be watching closely to see how Fed officials respond to the current strength of the economy and the potential risks of inflation, especially leading up to the September meeting. Federal Reserve Chairman, Jerome Powell, is expected to provide an update based on recent data, such as the Consumer Price Index (CPI) and the core Personal Consumption Expenditures (PCE) inflation report. Powell is likely to highlight the progress being made in tackling inflation, but will stick to his previous comments about the need to remain vigilant. According to UBS, Powell's statements will suggest a slightly more aggressive approach, leaving open the possibility of further interest rate hikes, although it is believed he will not propose one for September. Bank of America predicts that Powell will emphasize the Fed's commitment to achieving their 2% inflation target and subtly or explicitly oppose the level of rate hikes currently anticipated by the market for next year. BofA states that it would be surprising to witness any major changes in the Fed's communication regarding the neutral rate during the Jackson Hole conference, as there is significant uncertainty surrounding estimates of this rate. If the Fed were to imply expectations of a higher neutral rate, it would likely be interpreted as a more hawkish stance by the market, as it would mean higher overnight rates in order to slow down the economy.

Stock splits: The upcoming week will see a few companies undergoing stock splits. Sempra Energy (SRE) will be splitting their stock at a ratio of 2-for-1 on August 22, while Copart (CPRT) will also be undergoing a 2-for-1 split on the same date. On August 24, AMC Entertainment (AMC) will have a 1-for-10 stock split. Additionally, following the AMC stock split on August 25, there will be a conversion of all APE (APE) units to common stock.

Examining Nvidia: Nvidia (NVDA) is set to reveal its financial results on August 23, which could have a significant impact on the technology sector. Analysts predict that the chip giant will report revenue of $11.04 billion and earnings per share (EPS) of $2.07. The datacenter segment is expected to experience a substantial surge in revenue, increasing from $4.28 billion in Q1 to $7.86 billion. Meanwhile, revenue in the gaming, professional visualization, and OEM & IP segments is anticipated to grow at a more moderate pace. Citi forecasts that Nvidia will surpass expectations due to its impressive 90% year-over-year growth in data center sales and a 12% quarter-over-quarter increase, propelled by AI-driven earnings. Baird has an optimistic outlook on Nvidia, expecting strong guidance to be provided up until the end of 2024. It is noteworthy that Seeking Alpha analyst MM Research advises investors to pay attention to the phrase "at capacity" during the conference call, as this will indicate the company's ability to meet the demand for AI chips. Based on options trading, there is a projected 12% increase in Nvidia's share price following the release of the earnings report. In the previous report, Nvidia's shares surged by 24% after the issuance of positive guidance. Marvell Technology (MRVL), Monolithic Power Systems (MPWR), Qorvo (QRVO), and Advanced Micro Devices (AMD) have exhibited the closest trading correlation with NVDA among tech stocks after earnings.

DICK'S Sporting Goods, a popular retailer in the sporting goods industry, is set to release its earnings on August 22. Analysts predict that the company will report $3.24 billion in revenue, $3.81 in earnings per share, and a 2.5% increase in same-store sales. However, JPMorgan believes that there is a negative bias surrounding DICK'S ahead of the report. This is due to challenging sales comparisons for the second half of the year and the potential impact on margins if same-store sales decline. Nonetheless, DICK'S has been performing well in terms of premium product offerings, such as HOKA from Deckers Outdoor and ONON from On Holding. These products may receive attention during the conference call. DICK'S has exceeded revenue estimates for five consecutive quarters and earnings per share estimates for seven consecutive quarters. Over the past 90 days, an equal number of analysts have raised or lowered their earnings per share estimate for DICK'S. The options market suggests that there could be a 7% change in the stock price after the earnings announcement. In the previous earnings report, the stock declined by 1.4%. Two other companies, Academy Sports and Outdoors and Acushnet Holdings, have shown a strong correlation with the performance of DICK'S after its earnings report.

Upcoming corporate events in the following week have the potential to have a significant impact on certain stocks. VMWare is hosting their four-day event, VMware Explore, in Las Vegas. The featured speakers include VMWare CEO Raghu Raghuram and Nvidia CEO Jensen Huang. Intel will be hosting a virtual event focused on AI applications from edge to cloud, catering to researchers, data scientists, and developers. Twilio, a company that some analysts consider an AI play, will be holding their highly-anticipated customer and developer conference. OpenAI CEO Sam Altman will also be speaking at the event. Plug Power will be hosting a Georgia Analyst Day event, which may be of interest to investors as the company's stock has seen a significant decline in recent weeks. Additionally, the Seaport Research Partners Annual Summer Investor Conference, Citi Midstream / Energy Infrastructure Conference, and Needham Virtual Semiconductor & SemiCap Conference will take place during the week. More information on these events can be found in Seeking Alpha's Catalyst Watch.

Stocks that have seen changes in their recent quant ratings include General Motors, which has been upgraded from Hold to Strong Buy, Post Holdings, which has also been upgraded from Hold to Strong Buy, and Telos Corporation, which has been downgraded from Buy to Sell. If you're interested in knowing which stocks have the highest-rated Seeking Alpha Quant Ratings, check them out.

Note from the editor: This content discusses one or more stocks with low market capitalization. We kindly advise you to consider the risks that come with investing in these stocks.

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Our news crew is here to give you a sneak peek of what to expect over the weekend. We'll take you through a range of upcoming events that will likely have an impact on stocks. This includes initial public offerings (IPOs), reports on earnings, presentations in conferences, investor meetings, the end of IPO lockup periods, decisions by the Food and Drug Administration (FDA), references by Barron's, and other significant occurrences.