Wall Street Breakfast: The Week Ahead

Notable earnings reports: Restaurant Brands (NYSE:QSR) on February 10; Lyft (NASDAQ:LYFT), Hasbro (NASDAQ:HAS), Hilton (NYSE:HLT), Under Armour (UAA), and Western Union (NYSE:WU) on February 11; Cisco (NASDAQ:CSCO), CVS Health (NYSE:CVS), Shopify (NYSE:SHOP), Teva Pharmaceuticals (NYSE:TEVA) and TripAdvisor (NASDAQ:TRIP) on February 12; Alibaba, Nvidia, PepsiCo, Roku (NASDAQ:ROKU), AIG (NYSE:AIG) and Yelp (NYSE:YELP) on February 13; AstraZeneca (NYSE:AZN) on February 14.
Go deeper: See Seeking Alpha’s complete list of earnings reporters.

IPO watch: A quiet week for IPO pricings is set up with only small-caps Huize (HUIZ) on February 11 and Revolution Medicines (RVMD) on February 12 on the calendar. Analyst quiet period expirations during the week include Phoenix Tree (NYSE:DNK), I-Mab (NASDAQ:IMAB), Velocity Financial (NYSE:VEL) and Lizhi (NASDAQ:LIZI) on February 11. IPO lockup periods expire for China Xiangtai Food (NASDAQ:PLIN) on February 10 and 9F (NASDAQ:JFU) on February 11. There is also the second week of trading on Casper Sleep (NYSE:CSPR) to look forward to after a relatively solid debut for the online mattress seller.
Go deeper: Catch up on all the latest IPO news.

Projected dividend changes (quarterly): Sherwin-Williams (NYSE:SHW) to $1.34 from $1.13, Ametek (NYSE:AME) to $0.16 from $0.14, NextEra Energy (NYSE:NEE) to $1.40 from $1.25, T. Rowe Price Group (NASDAQ:TROW) to $0.84 from $0.76, Humana (NYSE:HUM) to $0.60 from $0.55, CSX (NASDAQ:CSX) to $0.26 from $0.24, Hasbro (HAS) to $0.73 from $0.68, Equinix (NASDAQ:EQIX) to $2.64 from $2.46, Wyndham Hotels (NYSE:WH) $0.31 from $0.29, Wendy’s (NASDAQ:WEN) to $0.125 from $0.120, Louisiana-Pacific (NYSE:LPX) to $0.14 from $0.135, Nu Skin (NYSE:NUS) to $0.375 from $0.370.
Go deeper: Read the latest dividend analysis.

Digital dividends: Another big development to watch this week in the world of dividends is the shareholder vote at Overstock.com (NASDAQ:OSTK) on proposals related to the company’s proposed digital dividend. Current Overstock shareholders will receive one digital share for every ten shares of the traditional stock they hold if the measure is approved. An estimated distribution date of March 9 has been set for the digital payout. “This is an important step for the first dividend of its kind to give our shareholders access to the next generation of capital markets powered by tZERO,” says Overstock CEO Jonathan Johnson on the innovation.

M&A tidbits: The tender offer on the CRCM/IAC deal expires on February 10. Shareholders at INST vote on Thoma Bravo buyout on February 13. M&A talk is swirling around Zagg (NASDAQ:ZAGG), Oasis Midstream Partners (NASDAQ:OMP), Taubman Centers(NYSE:TCO)-Simon Property (NYSE:SPG) and SoftBank (OTCPK:SFTBY).

Analyst/investor meetings: Visa (NYSE:V) is scheduled to host its investor day event on February 11. CEO Al Kelly, CFO Vasant Prabhu, President Ryan McInerney and other members of Visa’s management team will provide an overview of global strategy, key business and product initiatives, as well as financial objectives. Other companies with events scheduled include Otis Elevator (NYSE:UTX) and Daimler (OTCPK:DDAIF) on February 12 and Emerson Electric (NYSE:EMR) on February 13.

13F season: The expected period to see a flurry of 13F filings from hedge funds, private equity firms and investment managers arrives next week. Pershing Square (OTCPK:PSHZF), Berkshire Hathaway (NYSE:BRK.A), Elliott Management, Trian Fund, Blackstone (NYSE:BX), Blue Harbour, Appaloosa and Jana Partners are just some of the companies expected to disclose their holdings.
Go deeper: Read fund letters for detailed explanations of holdings and strategy.

Samsung event: The Samsung Galaxy Unpacked 2020 event will feature new updates to the Samsung Galaxy S20 Series. The S20 line follows the Galaxy S10 from last year is tipped to include a Galaxy S20, a Galaxy S20+ and a Galaxy S20 Ultra. Samsung is also heavily rumored to be ready to announce a new foldable handset called the Galaxy Z Flip and a new set of wireless earbuds. If there is a surprise Samsung reveal it might in the form of new smart speakers.

LNG Conference: The S&P Global Platts 19th Annual LNG Conference in Houston on February 12 is described as the must-attend global LNG event of the year. This year the event coincides with major disruption in the LNG market after China National Offshore Oil Corp (NYSE:CEO) suspended some purchases due to weak demand and a global oversupply. It sets up as a potentially volatile week for LNG players like Cheniere Energy (NYSEMKT:LNG), Tellurian (NASDAQ:TELL), NextDecade (NASDAQ:NEXT), Royal Dutch Shell (NYSE:RDS.A), Golar LNG (NASDAQ:GLNG), GasLog (NYSE:GLOG), Total (NYSE:TOT) and PetroChina (NYSE:PTR).

FDA watch: The agency’s Tobacco Products Scientific Advisory Committee will conduct a public hearing on February 14, regarding 22nd Century Group’s (NYSEMKT:XXII) Modified Risk Tobacco Product application for its VLNC cigarettes under the proposed brand name of VLN cigarettes.

Drug data: The WORLDSymposium lysosomal disease event in Orlando, Florida next week will include data updates from REGENXBIO (NASDAQ:RGNX), Protalix BioTherapeutics (NYSEMKT:PLX), AVROBIO (NASDAQ:AVRO) and Amicus Therapeutics (NASDAQ:FOLD). Later in the week, Johnson & Johnson (NYSE:JNJ), Trovagene (NASDAQ:TROV), Exelixis (NASDAQ:EXEL), Roche (OTCQX:RHHBY), Advaxis (NASDAQ:ADXS) and Corvus Pharmaceuticals (NASDAQ:CRVS) will all present trial data at the ASCO GU Cancers Symposium.

Business updates: ADP (NASDAQ:ADP) is holding an Innovation Day on February 10. Members of the ADP senior management team and technology organization will provide updates on the company’s investments in innovation and its vision for its HCM technology portfolio. Vale (NYSE:VALE) will post its Q4 production report on February 11. The company will report iron ore, pellets, coal, nickel, copper, cobalt and gold production numbers for the quarter. On a more macro level, FedEx (NYSE:FDX) is due to issue its 2020 economic update on February 10, while General Motors (NYSE:GM) CEO Mary Barra is a keynote speaker at the National Association of Dealers Association Show on February 12. Also of note, BP (NYSE:BP) CEO Bernard Looney will give a talk on February 12 to address corporate goals and share the company’s concerns about climate change. Looney says he will lay out BP’s low carbon goals.

Cowen Aerospace/Defense & Industrials Conference: Boeing (NYSE:BA) and Raytheon (NYSE:RTN) are headliners at the conference scheduled for New York City on February 12. Other presenting companies include Mantech (NASDAQ:MANT), Vectrus (NYSE:VEC), RADA (NASDAQ:RADA), Raytheon (RTN), Johnson Controls (NYSE:JCI), Parsons (NYSE:PSN), Arconic (NYSE:ARNC), Leidos (NYSE:LDOS) and Albany International (NYSE:AIN).

Goldman Sachs Technology & Internet Conference: The list of tech companies due to appear at the Goldman Sachs Technology and Internet Conference on February 11-12 includes heavyweights like Microsoft (NASDAQ:MSFT), Cisco (CSCO) and Alphabet (NASDAQ:GOOGL) – as well as Juniper Networks (NYSE:JNPR), Ceridian (NYSE:CDAY), Adtran (NASDAQ:ADTN), Ping Identity (NYSE:PING), Skyworks (NASDAQ:SWKS), Dynatrace (NYSE:DT), Criteo (NASDAQ:CRTO), TE Connectivity (NYSE:TEL), Avnet (NASDAQ:AVT), Texas Instruments (NASDAQ:TXN), Cognizant (NASDAQ:CTSH), Arrow Electronics (NYSE:ARW), IHS Markit (NYSE:INFO), Stitch Fix (NASDAQ:SFIX), Micron (NASDAQ:MU), MongoDB (NASDAQ:MDB), Proofpoint (NASDAQ:PFPT) and ServiceNow (NYSE:NOW), Arista Networks (NYSE:ANET), Corning (NYSE:GLW), Gartner (NYSE:IT), Micron Technology (MU), Applied Material (NASDAQ:AMAT), Adobe (NASDAQ:ADBE), Ceridian (CDAY) and Zendesk (NYSE:ZEN).

Oscars Netflix (NASDAQ:NFLX) is hoping to win some Academy Awards tomorrow night after landing 24 nominations to top all studios, including 10 for Martin Scorsese’s The Irishman. Netflix has underperformed at the Oscars in the past and some think Hollywood’s old guard is hesitant to give up the statuettes to the streamer. Shares of Netflix could see a little bounce if that streak is broken.

Transportation conference: The Stifel Transportation & Logistics Conference runs from February 11-12 in Miami Beach. Notable participants include Schneider National (NYSE:SNDR), Electrameccanica Vehicles (NASDAQ:SOLO), Fortress Transportation (NYSE:FTAI), Seacor Holdings (NYSE:CKH), Union Pacific (NYSE:UNP), J.B. Hunt Transport Services (NASDAQ:JBHT), U.S. Xpress (NYSE:USX), C.H. Robinson (NASDAQ:CHRW), Matson (NYSE:MATX), USA Truck (NASDAQ:USAK), Matson (MATX), Heartland Express (NASDAQ:HTLD), Air Transport Services Group (NASDAQ:ATSG), Werner Enterprises (NASDAQ:WERN), U.S. Xpress Enterprises (USX), C.H. Robinson Worldwide (CHRW), Kirby (NYSE:KEX), Daseke (NASDAQ:DSKE) and YRC Worldwide (NASDAQ:YRCW).

Barron’s mentions: The third annual ranking of America’s Most Sustainable is the cover story this week. Shares of the 100 companies on the list returned 34% on average last year to top the return on the S&P 500 Index of 32%. Agilent Technologies (NYSE:A), Texas Instruments, (TXN) and Voya Financial (NYSE:VOYA) top the ranking of companies by environmental, social and governance policies. Other ESG winners in the top ten are Tiffany (NYSE:TIF), Best Buy (NYSE:BBY), HP Inc. (NYSE:HPQ), W.W. Grainger (NYSE:GWW), Cisco (CSCO), Avnet (AVT) and Autodesk (NASDAQ:ADSK). Beat-up Kraft Heinz (NASDAQ:KHC) is seen as having up to 40% upside if new management can right the ship. The food company is expected to sell off at least a couple of key assets to boost its balance sheet. The publication also thinks the energy sector finally looks tempting after slumping another 10% this year vs. a 3% rise in the S&P. The usual suspects BP (BP), Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP), Exxon Mobil (NYSE:XOM) and Royal Dutch Shell (NYSE:RDS.B) are seen as attractive at current levels.

Sources: CNBC, Reuters, Bloomberg, The Verge, EDGAR, The Hill

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