Catalyst watch: Eyes on FOMC, OPEC meeting, jobs report and Dell
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Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Saturday morning's regular Stocks to Watch article for a full list of events planned for the week or the Seeking Alpha earnings calendar for companies due to report.
Monday - May 2


Volatility watch - Options trading is elevated on Sono Group (SEV) and Vroom (VRM). Teladoc Health (TDOC) is at the top of the list of most discussed stocks on Reddit's WallStreetBets and StockTwits after its earnings stumble. Keep an eye on Beyond Meat (BYND) with short interest still elevated and nearly every twist in regard to the McDonald's partnership leading to share price jolts. Watch BRC Inc. (BRCC) with a redemption of public warrants expiring on May 4. That warrants development has lead to share price gains for other stocks in the past.

All week - The conference schedule is headlined by the Wells Fargo 2022 Industrials Conference. Some of the more notable presenters that could attract investor attention include Allegion (ALLE), Astra Space (ASTR), Autoliv (ALV), Blade Air mobility (BLDE), Dow Inc. (DOW), General Electric (GE), JELD-WEN Holding (JELD), Ranpack Holdings (PACK), Rocket Lab USA (RKLB), and BorgWarner (BWA).

All day - Li Auto (LI), Nio (NIO), and XPeng (XPEV) could be big movers after the Chinese automakers report on deliveries for April amid more COVID and supply chain disruption. Some analysts have also circled the National Instant Criminal Background Check System firearm checks report as a potential share price mover for Smith & Wesson Brands (SWBI) and Sturm, Ruger & Company (RGR).

All day - Dell Technologies (NYSE:DELL) holds its flagship Dell Technologies World event. CEO Michael Dell and other top execs will makes appearance, as well as outside speakers from General Motors, CVS Health and Epic Games. The company will also hold a financial analyst meeting that could lead to ratings revisions on Dell.

Tuesday - May 3


All day - The FDA action date for Phathom Pharmaceuticals (PHAT) on vonoprazan arrives. Shares of Phathom Pharmaceuticals have soared in past off positive vonoprazan developments.

All day - AGBA Acquisition Limited (AGBA) holds a shareholder meeting vote on extending the deadline for a business combination.

All day - NextGen Healthcare (NXGN) will conduct a four-hour investor event. Shares of NextGen have rallied following similar events in the past.

9:00 a.m. Panbela Therapeutics (PBLA) will host an R&D call for what will be a deep dive on the companyâs investigational SBP-101 drug for ovarian cancer. Shares of Panbela have been volatile in the past off SBP-101 developments.

11:00 a.m. Restaurant Brands International (QSR) will host a Tim Hortons Canada Investor Day event. The event will give investors an opportunity to hear the Tim Hortons Canada leadership team discuss the brand's business strategy and growth in detail. Comparable sales at Tim Hortons Canada in Q4 beat expectations with a 10% year-over-year jump.

5:00 p.m. Starbucks (NASDAQ:SBUX) holds its conference call after reporting FQ2 results. The call is expected to feature additional color on how the chain plans to address the unionization push, as well as the timing of scope and timing of investments in stores and employees.

Postmarket - Companies reporting earnings with a double-digit share price moves up or down implied by options trading include TuSimple (TSP), Nerdwallet (NRDS) and Sprout Social (SPT).

Wednesday - May 4


All day - Axos Financial (AX) will hold its 2022 Investor Day event.

Premarket - CVS Health Corporation (NYSE:CVS) will report earnings with investors watching closely for the impact of the opioid issue and 340B discounts on guidance. Stocks that correlate strongly with CVS include Cardinal Health (CAH), which moves in tandem with it 75% of time on earnings day, as well as McKesson (MCK) and Rite Aid (RAD) with an even higher correlation rate of 88%.

9:00 a.m. General Mills, Inc. (GIS) will webcast an Environmental, Social and Governance investor event with a live question-and-answer session with management. The event will highlight the company's ambitious ESG goals in the areas of planet, people, community and food, and how those strategies could drive shareholder returns.

2:00 p.m. The two-day Federal Reserve meeting will conclude with a rate announcement. The market has fully priced in a 50 basis points hike for May and at least another five to six 25-point hikes are expected before the end of year. It also anticipated that quantitative tightening will be included in the Fed statement.

2:30 p.m. Jerome Powell will be in the spotlight during the FOMC press conference.

Postmarket - Companies reporting earnings with a double-digit share price moves up or down implied by options trading include Fisker (FSR), Twilio (TWLO) and Skillz (SKLZ).

5:00 p.m.  ManTech International Corporation (MANT) will hold its earnings call with M&A intrigue swirling after reports indicated that potential bidders include KBR Inc. (KBR), Carlyle Group (CG) and Veritas Capital's Peraton.

Thursday - May 5


All day - The OPEC+ meeting is expected to result in an agreement for another 432k bpd oil output increase for June. While a plan to boost production has been in place since last year, some group members have failed to deliver on the agreed output targets for political reasons or production issues. Despite some European nations moving closer to banning Russian oil imports, the potential for softer demand in China from new lockdowns is giving OPEC cover to hike production cautiously. Crude oil futures (CL1:COM) are still comfortably over $100 per barrel.

All day - ACE Convergence Acquisition Corp. (ACEV) will hold a shareholder meeting to formally approve the SPAC deal with software-accelerated electronics manufacture Tempo Automation. The business combination is expected to close shortly after the meeting. Tempo Automation Holdings will trade under the symbol TMPO.

9:30 a.m. Service Corporation International (SCI) will host an Investor Day event with presentations on the company's key business drivers and growth prospects over a multi-year period.

10:00 a.m. Spirit Airlines (SAVE) will conduct its Q1 earnings call. Investors will be looking for an update on the sales process to a bidder such as JetBlue Airways (JBLU) or Frontier Group (ULCC).

1:30 p.m. Spin Master Corp. (OTCPK:SNMSF) will host a virtual Investor Event with presentations from top management. Shares of Spin Master have rallied after similar events in the past.

Postmarket - Companies reporting earnings with a double-digit share prices move up or down implied by options trading include Confluent (CFLT), FuboTV (FUBO) and Zillow (ZG),

Friday - May 6


All day - Oshkosh Corporation (NYSE:OSK) holds its Investor Day event at the New York Stock Exchange. The company is likely to highlights its new partnership with Robotic Research to accelerate its innovation and autonomy offerings.

All day - Bausch + Lomb (BLCO) is expected to start trading on the New York Stock Exchange

8:30 a.m. The U.S. jobs reports for April rolls in with economists forecasting 390K jobs adds for the month and an unemployment rate of 3.60%. The report is not anticipated to disrupt the Fed from staying on the rate hike path, but could impact sentiment in labor-intensive sectors.